FedEx (FDX) 10-K 16 Jul 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	May 31, 2018	Jul. 12, 2018	Nov. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Document Period End Date	May 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Registrant Name	FedEx Corporation
Entity Central Index Key	1,048,911
Current Fiscal Year End Date	--05-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 57.3
Entity Common Stock, Shares Outstanding		265,924,840
Trading Symbol	FDX

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		May 31, 2018	May 31, 2017
CURRENT ASSETS
Cash and cash equivalents		$ 3,265	$ 3,969
Receivables, less allowances of $401 and $252		8,481	7,599
Spare parts, supplies and fuel, less allowances of $268 and $237		525	514
Prepaid expenses and other		1,070	546
Total current assets		13,341	12,628
PROPERTY AND EQUIPMENT, AT COST
Aircraft and related equipment		20,749	18,833
Package handling and ground support equipment		9,727	8,989
Information technology		5,794	5,396
Vehicles		7,708	6,961
Facilities and other		11,143	10,447
Gross property and equipment		55,121	50,626
Less accumulated depreciation and amortization		26,967	24,645
Net property and equipment		28,154	25,981
OTHER LONG-TERM ASSETS
Goodwill		6,973	7,154
Other assets		3,862	2,789
Total other long-term assets		10,835	9,943
ASSETS	[1]	52,330	48,552
CURRENT LIABILITIES
Current portion of long-term debt		1,342	22
Accrued salaries and employee benefits		2,177	1,914
Accounts payable		2,977	2,752
Accrued expenses		3,131	3,230
Total current liabilities		9,627	7,918
LONG-TERM DEBT, LESS CURRENT PORTION		15,243	14,909
OTHER LONG-TERM LIABILITIES
Deferred income taxes		2,867	2,485
Pension, postretirement healthcare and other benefit obligations		2,187	4,487
Self-insurance accruals		1,784	1,494
Deferred lease obligations		551	531
Deferred gains, principally related to aircraft transactions		121	137
Other liabilities		534	518
Total other long-term liabilities		8,044	9,652
COMMITMENTS AND CONTINGENCIES
COMMON STOCKHOLDERS' INVESTMENT
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of May 31, 2018 and 2017		32	32
Additional paid-in capital		3,117	3,005
Retained earnings		24,823	20,833
Accumulated other comprehensive loss		(578)	(415)
Treasury stock, at cost		(7,978)	(7,382)
Total common stockholders’ investment		19,416	16,073
LIABILITIES AND STOCKHOLDERS' INVESTMENT		$ 52,330	$ 48,552
[1]	Segment assets include intercompany receivables.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
CURRENT ASSETS
Allowances for receivables	$ 401	$ 252
Allowances for spare parts, supplies and fuel	$ 268	$ 237
COMMON STOCKHOLDERS' INVESTMENT
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	318,000,000	318,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions		12 Months Ended
		May 31, 2018		May 31, 2017		May 31, 2016
Income Statement [Abstract]
REVENUES	[1]	$ 65,450		$ 60,319		$ 50,365
OPERATING EXPENSES:
Salaries and employee benefits		23,207		21,542		18,581
Purchased transportation		15,101		13,630		9,966
Rentals and landing fees		3,361		3,240		2,854
Depreciation and amortization		3,095		2,995		2,631
Fuel		3,374		2,773		2,399
Maintenance and repairs		2,622		2,374		2,108
Goodwill and other asset impairment charges		380
Retirement plans mark-to-market adjustment		(10)		(24)		1,498
Other		9,450		8,752		7,251
OPERATING EXPENSES		60,580		55,282		47,288
OPERATING INCOME		4,870	[2]	5,037	[3]	3,077	[4]
OTHER INCOME (EXPENSE):
Interest expense		(558)		(512)		(336)
Interest income		48		33		21
Other, net		(7)		21		(22)
OTHER INCOME (EXPENSE)		(517)		(458)		(337)
INCOME BEFORE INCOME TAXES		4,353		4,579		2,740
PROVISION FOR INCOME TAXES (BENEFIT)		(219)		1,582		920
NET INCOME		$ 4,572		$ 2,997		$ 1,820
BASIC EARNINGS PER COMMON SHARE		$ 17.08		$ 11.24		$ 6.59
DILUTED EARNINGS PER COMMON SHARE		$ 16.79		$ 11.07		$ 6.51
[1]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[2]	Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.
[3]	Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.
[4]	Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME	$ 4,572	$ 2,997	$ 1,820
OTHER COMPREHENSIVE LOSS:
Foreign currency translation adjustments, net of tax expense of $16 in 2018, tax expense of $52 in 2017 and tax benefit of $22 in 2016	(74)	(171)	(261)
Amortization of prior service credit and other, net of tax benefit of $37 in 2018, tax benefit of $43 in 2017 and tax benefit of $45 in 2016	(89)	(75)	(80)
Other comprehensive loss	(163)	(246)	(341)
COMPREHENSIVE INCOME	$ 4,409	$ 2,751	$ 1,479

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income(Parentheticals) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Other Comprehensive Income, Tax Amounts
Foreign currency translation adjustments, tax (expense) benefit	$ (16)	$ (52)	$ 22
Amortization of prior service credit and other, tax benefit	$ 37	$ 43	$ 45

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
OPERATING ACTIVITIES
Net income	$ 4,572	$ 2,997	$ 1,820
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	3,095	2,995	2,631
Provision for uncollectible accounts	246	136	121
Deferred income taxes and other noncash items	(231)	909	31
Stock-based compensation	167	154	144
Retirement plans mark-to-market adjustment	(10)	(24)	1,498
Gain from sale of business	(85)
Gain from sale of investment		(35)
Goodwill and other asset impairment charges	380
Changes in assets and liabilities:
Receivables	(1,049)	(556)	(199)
Other current assets	(135)	78	(234)
Pension and postretirement healthcare assets and liabilities, net	(2,345)	(1,688)	(346)
Accounts payable and other liabilities	141	103	467
Other, net	(72)	(139)	(225)
Cash provided by operating activities	4,674	4,930	5,708
INVESTING ACTIVITIES
Capital expenditures	(5,663)	(5,116)	(4,818)
Business acquisitions, net of cash acquired	(179)		(4,618)
Proceeds from sale of business	123
Proceeds from asset dispositions and other	42	135	(10)
Cash used in investing activities	(5,677)	(4,981)	(9,446)
FINANCING ACTIVITIES
Principal payments on debt	(38)	(82)	(41)
Proceeds from debt issuances	1,480	1,190	6,519
Proceeds from stock issuances	327	337	183
Dividends paid	(535)	(426)	(277)
Purchase of treasury stock	(1,017)	(509)	(2,722)
Other, net	10	18	(51)
Cash provided by financing activities	227	528	3,611
Effect of exchange rate changes on cash	72	(42)	(102)
Net (decrease) increase in cash and cash equivalents	(704)	435	(229)
Cash and cash equivalents at beginning of period	3,969	3,534	3,763
Cash and cash equivalents at end of period	$ 3,265	$ 3,969	$ 3,534

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning balance at May. 31, 2015	$ 14,993	$ 32	$ 2,786	$ 16,900	$ 172	$ (4,897)
Net income	1,820			1,820
Other comprehensive loss, net of tax	(341)				(341)
Purchase of treasury stock	(2,722)					(2,722)
Cash dividends declared	(277)			(277)
Employee incentive plans and other	311		106	(72)		277
Ending balance at May. 31, 2016	13,784	32	2,892	18,371	(169)	(7,342)
Net income	2,997			2,997
Other comprehensive loss, net of tax	(246)				(246)
Purchase of treasury stock	(509)					(509)
Cash dividends declared	(426)			(426)
Employee incentive plans and other	473		113	(109)		469
Ending balance at May. 31, 2017	16,073	32	3,005	20,833	(415)	(7,382)
Net income	4,572			4,572
Other comprehensive loss, net of tax	(163)				(163)
Purchase of treasury stock	(1,017)					(1,017)
Cash dividends declared	(535)			(535)
Employee incentive plans and other	486		112	(47)		421
Ending balance at May. 31, 2018	$ 19,416	$ 32	$ 3,117	$ 24,823	$ (578)	$ (7,978)

Consolidated Statements of Cha9

Consolidated Statements of Changes in Shareholders Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Statement Of Stockholders Equity [Abstract]
Other comprehensive loss, tax	$ (21)	$ (9)	$ (67)
Purchase of treasury stock	4,300,000	3,000,000	18,200,000
Cash dividends declared, per share	$ 2	$ 1.60	$ 1
Employee incentive plans and other, shares issued	3,100,000	3,500,000	2,000,000

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	May 31, 2018
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	NOTE 1: DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS. FedEx Corporation (“FedEx”) provides a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the respected FedEx brand. Our primary operating companies are Federal Express Corporation (“FedEx Express”), the world’s largest express transportation company; FedEx Ground Package System, Inc. (“FedEx Ground”), a leading North American provider of small-package ground delivery services; and FedEx Freight Corporation (“FedEx Freight”), a leading U.S. provider of less-than-truckload (“LTL”) freight transportation. These companies represent our major service lines and, along with FedEx Corporate Services, Inc. (“FedEx Services”), constitute our reportable segments. Our FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support our transportation segments (FedEx Express, FedEx Ground and FedEx Freight). In addition, the FedEx Services segment provides customers with retail access to FedEx Express and FedEx Ground shipping services through FedEx Office and Print Services, Inc. (“FedEx Office”). FISCAL YEARS . Except as otherwise specified, references to years indicate our fiscal year ended May 31, 2018 or ended May 31 of the year referenced. RECLASSIFICATIONS. Certain reclassifications have been made to the prior years’ segment financial information to conform to the current year’s presentation. See Note 14 below for additional information regarding business segments. PRINCIPLES OF CONSOLIDATION . The consolidated financial statements include the accounts of FedEx and its subsidiaries, substantially all of which are wholly owned. All significant intercompany accounts and transactions have been eliminated in consolidation. We are not the primary beneficiary of, nor do we have a controlling financial interest in, any variable interest entity. Accordingly, we have not consolidated any variable interest entity. REVENUE RECOGNITION . We recognize revenue upon delivery of shipments for our transportation businesses and upon completion of services for our business services, logistics and trade services businesses. Transportation services are provided with the use of employees and agents such as independent contractors. FedEx is the principal to the transaction for most of these services and revenue from these transactions is recognized on a gross basis. Costs associated with agents are recognized as incurred and included in the caption “Purchased transportation” in the accompanying consolidated statements of income. For shipments in transit, revenue is recorded based on the percentage of service completed at the balance sheet date. Estimates for future billing adjustments to revenue and accounts receivable are recognized at the time of shipment for money-back service guarantees and billing corrections. Delivery costs are accrued as incurred. Our contract logistics, global trade services and certain transportation businesses engage in some transactions wherein they act as agents. Revenue from these transactions is recorded on a net basis. Net revenue includes billings to customers less third-party charges, including transportation or handling costs, fees, commissions and taxes and duties. Certain of our revenue-producing transactions are subject to taxes, such as sales tax, assessed by governmental authorities. We present these revenues net of tax. CREDIT RISK. We routinely grant credit to many of our customers for transportation and business services without collateral. The risk of credit loss in our trade receivables is substantially mitigated by our credit evaluation process, short collection terms and sales to a large number of customers, as well as the low revenue per transaction for most of our services. Allowances for potential credit losses are determined based on historical experience and the impact of current economic factors on the composition of accounts receivable. Historically, credit losses have been within management’s expectations. ADVERTISING. Advertising and promotion costs are expensed as incurred and are classified in other operating expenses. Advertising and promotion expenses were $442 million in 2018, $458 million in 2017 and $417 million in 2016. CASH EQUIVALENTS. Cash in excess of current operating requirements is invested in short-term, interest-bearing instruments with maturities of three months or less at the date of purchase and is stated at cost, which approximates market value. SPARE PARTS, SUPPLIES AND FUEL. Spare parts (principally aircraft-related) are reported at weighted-average cost. Allowances for obsolescence are provided for spare parts currently identified as excess or obsolete as well as expected to be on hand at the date the aircraft are retired from service. These allowances are provided over the estimated useful life of the related aircraft and engines. The majority of our supplies and fuel are reported at weighted-average cost. PROPERTY AND EQUIPMENT . Expenditures for major additions, improvements and flight equipment modifications are capitalized when such costs are determined to extend the useful life of the asset or are part of the cost of acquiring the asset. Expenditures for equipment overhaul costs of engines or airframes prior to their operational use are capitalized as part of the cost of such assets as they are costs required to ready the asset for its intended use. Maintenance and repairs costs are charged to expense as incurred, except for certain aircraft engine maintenance costs incurred under third-party service agreements. These agreements result in costs being expensed based on cycles or hours flown and are subject to annual escalation. These service contracts transfer risk to third-party service providers and generally fix the amount we pay for maintenance to the service provider as a rate per cycle or flight hour, in exchange for maintenance and repairs under a predefined maintenance program. We capitalize certain direct internal and external costs associated with the development of internal-use software. Gains and losses on sales of property used in operations are classified within operating expenses and historically have been nominal. For financial reporting purposes, we record depreciation and amortization of property and equipment on a straight-line basis over the asset’s service life or related lease term, if shorter. For income tax purposes, depreciation is computed using accelerated methods when applicable. The depreciable lives and net book value of our property and equipment are as follows (dollars in millions): Net Book Value at May 31, Range 2018 2017 Wide-body aircraft and related equipment 15 to 30 years $ 10,463 $ 9,103 Narrow-body and feeder aircraft and related equipment 5 to 18 years 2,908 3,099 Package handling and ground support equipment 3 to 30 years 4,028 3,862 Information technology 2 to 10 years 1,277 1,114 Vehicles 3 to 15 years 3,747 3,400 Facilities and other 2 to 40 years 5,731 5,403 Substantially all property and equipment have no material residual values. The majority of aircraft costs are depreciated on a straight-line basis over 15 to 30 years. We periodically evaluate the estimated service lives and residual values used to depreciate our property and equipment. Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations, was $3.1 billion in 2018, $2.9 billion in 2017 and $2.6 billion in 2016. Depreciation and amortization expense includes amortization of assets under capital lease. CAPITALIZED INTEREST . Interest on funds used to finance the acquisition and modification of aircraft, including purchase deposits, construction of certain facilities, and development of certain software up to the date the asset is ready for its intended use, is capitalized and included in the cost of the asset if the asset is actively under construction. Capitalized interest was $61 million in 2018, $41 million in 2017 and $42 million in 2016. IMPAIRMENT OF LONG-LIVED ASSETS. Long-lived assets are reviewed for impairment when circumstances indicate the carrying value of an asset may not be recoverable. For assets that are to be held and used, an impairment is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value. We operate integrated transportation networks, and accordingly, cash flows for most of our operating assets to be held and used are assessed at a network level, not at an individual asset level, for our analysis of impairment. In the normal management of our aircraft fleet, we routinely idle aircraft and engines temporarily due to maintenance cycles and adjustments of our network capacity to match seasonality and overall customer demand levels. Temporarily idled assets are classified as available-for-use, and we continue to record depreciation expense associated with these assets. These temporarily idled assets are assessed for impairment on a quarterly basis. The criteria for determining whether an asset has been permanently removed from service (and, as a result, is potentially impaired) include, but are not limited to, our global economic outlook and the impact of our outlook on our current and projected volume levels, including capacity needs during our peak shipping seasons; the introduction of new fleet types or decisions to permanently retire an aircraft fleet from operations; and changes to planned service expansion activities. At May 31, 2018, we had five aircraft temporarily idled. These aircraft have been idled for an average of 20 months and are expected to return to revenue service. SALE OF BUSINESS. On April 30, 2018, we sold a non-core business of TNT Express B.V. (“TNT Express”) and recorded a gain of $85 million in the FedEx Express segment. GOODWILL. Goodwill is recognized for the excess of the purchase price over the fair value of tangible and identifiable intangible net assets of businesses acquired. Several factors give rise to goodwill in our acquisitions, such as the expected benefits from synergies of the combination and the existing workforce of the acquired business. Goodwill is reviewed at least annually for impairment. In our evaluation of goodwill impairment, we perform a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment is not conclusive, we proceed to test goodwill for impairment, including comparing the fair value of the reporting unit to its carrying value (including attributable goodwill). Fair value for our reporting units is determined using an income or market approach incorporating market participant considerations and management’s assumptions on revenue growth rates, operating margins, discount rates and expected capital expenditures. Fair value determinations may include both internal and third-party valuations. Unless circumstances otherwise dictate, we perform our annual impairment testing in the fourth quarter. INTANGIBLE ASSETS . Intangible assets primarily include customer relationships, technology assets and trademarks acquired in business combinations. Intangible assets are amortized over periods ranging from 3 to 15 years, either on a straight-line basis or on a basis consistent with the pattern in which the economic benefits are realized. PENSION AND POSTRETIREMENT HEALTHCARE PLANS. Our defined benefit pension and other postretirement benefit plans are measured using actuarial techniques that reflect management’s assumptions for discount rate, investment returns on plan assets, salary increases, expected retirement, mortality, employee turnover and future increases in healthcare costs. We determine the discount rate (which is required to be the rate at which the projected benefit obligation (“PBO”) could be effectively settled as of the measurement date) with the assistance of actuaries, who calculate the yield on a theoretical portfolio of high-grade corporate bonds (rated Aa or better) with cash flows that are designed to match our expected benefit payments in future years. We use the fair value of plan assets to calculate the expected return on assets (“EROA”) for interim and segment reporting purposes. Our EROA is a judgmental matter which is reviewed on an annual basis and revised as appropriate. The accounting guidance related to employers’ accounting for defined benefit pension and other postretirement plans requires recognition in the balance sheet of the funded status of these plans. We use “mark-to-market” or MTM accounting and immediately recognize changes in the fair value of plan assets and actuarial gains or losses in our operating results annually in the fourth quarter each year. The annual MTM adjustment is recognized at the corporate level and does not impact segment results. The remaining components of pension and postretirement healthcare expense, primarily service and interest costs and the EROA, are recorded on a quarterly basis. INCOME TAXES. Deferred income taxes are provided for the tax effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The liability method is used to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to be in effect when the taxes are paid. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. Such assets arise because of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as from net operating loss and tax credit carryforwards. We evaluate the recoverability of these future tax deductions and credits by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely heavily on estimates to make this determination and, thus, there is a risk that these estimates will have to be revised as new information is received. To the extent we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is established. We believe we will generate sufficient future taxable income to realize the tax benefits related to the remaining net deferred tax assets in our consolidated balance sheet that are not subject to valuation allowances. We recognize liabilities for uncertain income tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires us to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as we must determine the probability of various possible outcomes. We reevaluate these uncertain tax positions on a quarterly basis or when new information becomes available to management. These reevaluations are based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, successfully settled issues under audit and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an increase to the related provision. We classify interest related to income tax liabilities as interest expense, and if applicable, penalties are recognized as a component of income tax expense. The income tax liabilities and accrued interest and penalties that are due within one year of the balance sheet date are presented as current liabilities. The noncurrent portion of our income tax liabilities and accrued interest and penalties are recorded in the caption “Other liabilities” in the accompanying consolidated balance sheets. SELF-INSURANCE ACCRUALS. We are self-insured for costs associated with workers’ compensation claims, vehicle accidents and general business liabilities, and benefits paid under employee healthcare and disability programs. Accruals are primarily based on the actuarially estimated cost of claims, which includes incurred-but-not-reported claims. Current workers’ compensation claims, vehicle and general liability, employee healthcare claims and long-term disability are included in accrued expenses. We self-insure up to certain limits that vary by operating company and type of risk. Periodically, we evaluate the level of insurance coverage and adjust insurance levels based on risk tolerance and premium expense. LEASES. We lease certain aircraft, facilities, equipment and vehicles under capital and operating leases. The commencement date of all leases is the earlier of the date we become legally obligated to make rent payments or the date we may exercise control over the use of the property. In addition to minimum rental payments, certain leases provide for contingent rentals based on equipment usage, principally related to aircraft leases at FedEx Express and copier usage at FedEx Office. Rent expense associated with contingent rentals is recorded as incurred. Certain of our leases contain fluctuating or escalating payments and rent holiday periods. The related rent expense is recorded on a straight-line basis over the lease term. The cumulative excess of rent payments over rent expense is accounted for as a deferred lease asset and recorded in “Other assets” in the accompanying consolidated balance sheets. The cumulative excess of rent expense over rent payments is accounted for as a deferred lease obligation. Leasehold improvements associated with assets utilized under capital or operating leases are amortized over the shorter of the asset’s useful life or the lease term. DEFERRED GAINS. Gains on the sale and leaseback of aircraft and other property and equipment are deferred and amortized ratably over the life of the lease as a reduction of rent expense. Substantially all of these deferred gains are related to aircraft transactions. DERIVATIVE FINANCIAL INSTRUMENTS. Our risk management strategy includes the select use of derivative instruments to reduce the effects of volatility in foreign currency exchange exposure on operating results and cash flows. In accordance with our risk management policies, we do not hold or issue derivative instruments for trading or speculative purposes. All derivative instruments are recognized in the financial statements at fair value, regardless of the purpose or intent for holding them. When we become a party to a derivative instrument and intend to apply hedge accounting, we formally document the hedge relationship and the risk management objective for undertaking the hedge, which includes designating the instrument for financial reporting purposes as a fair value hedge, a cash flow hedge, or a net investment hedge. If a derivative is designated as a cash flow or net investment hedge, changes in its fair value are considered to be effective and are recorded in accumulated other comprehensive income (“AOCI”) until the hedged item is recorded in income. Any portion of a change in the fair value of a derivative that is considered to be ineffective, along with the change in fair value of any derivatives not designated in a hedging relationship, is immediately recognized in the income statement. We do not have any derivatives designated as a cash flow or net investment hedge as of May 31, 2018, 2017 and 2016. Accordingly, additional disclosures about these types of financial instruments are excluded from this report. For derivative instruments designated as hedges, we assess, both at hedge inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of the hedged items. In addition, when we determine that a derivative is not highly effective as a hedge, hedge accounting is discontinued. When a hedging instrument expires or is sold, or when the hedge no longer meets the criteria for hedge accounting, any cumulative gains or losses existing in AOCI at that time remain there until the forecasted transaction is ultimately recognized in the income statement. When a forecasted transaction is no longer expected to occur, the cumulative gains or losses that were reported in AOCI are immediately recognized in the income statement. The financial statement impact of derivative transactions was immaterial for the years ended May 31, 2018, 2017 and 2016. Accordingly, additional disclosures have been excluded from this report. FOREIGN CURRENCY TRANSLATION. Translation gains and losses of foreign operations that use local currencies as the functional currency are accumulated and reported, net of applicable deferred income taxes, as a component of AOCI within common stockholders’ investment. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local currency are included in the caption “Other, net” in the accompanying consolidated statements of income and were immaterial for each period presented. EMPLOYEES UNDER COLLECTIVE BARGAINING ARRANGEMENTS. The pilots of FedEx Express, who are a small number of its total employees, are employed under a collective bargaining agreement that took effect on November 2, 2015. The collective bargaining agreement is scheduled to become amendable in November 2021. Other than the pilots at FedEx Express and drivers at one FedEx Freight facility, our U.S. employees have thus far chosen not to unionize (we acquired FedEx Supply Chain Distribution System, Inc. (“FedEx Supply Chain,” formerly GENCO Distribution System, Inc.) in 2015, which already had a small number of employees that are members of unions). Additionally, certain of FedEx Express’s non-U.S. employees are unionized. STOCK-BASED COMPENSATION. We recognize compensation expense for stock-based awards under the provisions of the accounting guidance related to share-based payments. This guidance requires recognition of compensation expense for stock-based awards using a fair value method. We issue new shares or treasury shares from stock repurchases to cover employee stock option exercises and restricted stock grants. TREASURY SHARES. In January 2016, our Board of Directors authorized a share repurchase program of up to 25 million shares. During 2018, we repurchased 4.3 million shares of FedEx common stock at an average price of $237.45 per share for a total of $1.0 billion. As of May 31, 2018, 12 million shares remained under the share repurchase authorization. Shares under the current repurchase program may be repurchased from time to time in the open market or in privately negotiated transactions. The timing and volume of repurchases are at the discretion of management, based on the capital needs of the business, the market price of FedEx common stock and general market conditions. No time limit was set for the completion of the program, and the program may be suspended or discontinued at any time. In 2017, we repurchased 3.0 million shares of FedEx common stock at an average price of $172.13 per share for a total of $509 million. In 2016, we repurchased 18.2 million shares of FedEx common stock at an average price of $149.35 per share for a total of $2.7 billion. DIVIDENDS DECLARED PER COMMON SHARE. On June 11, 2018, our Board of Directors declared a quarterly dividend of $0.65 per share of common stock. The dividend was paid on July 9, 2018 to stockholders of record as of the close of business on June 25, 2018. Each quarterly dividend payment is subject to review and approval by our Board of Directors, and we evaluate our dividend payment amount on an annual basis at the end of each fiscal year. USE OF ESTIMATES . The preparation of our consolidated financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent liabilities. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Areas where the nature of the estimate makes it reasonably possible that actual results could materially differ from amounts estimated include: self-insurance accruals; retirement plan obligations; long-term incentive accruals; tax liabilities; loss contingencies; litigation claims; impairment assessments on long-lived assets (including goodwill); and purchase price allocations.

Recent Accounting Guidance

Recent Accounting Guidance	12 Months Ended
	May 31, 2018
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	NOTE 2: RECENT ACCOUNTING GUIDANCE New accounting rules and disclosure requirements can significantly impact our reported results and the comparability of our financial statements. We believe the following new accounting guidance is relevant to the readers of our financial statements. In December 2017, the Securities and Exchange Commission (“SEC”) staff issued Staff Accounting Bulletin (“SAB”) 118 to provide guidance to registrants in accounting for income taxes under the Tax Cuts and Jobs Act (“TCJA”). See Note 12 for further discussion related to applying this guidance. During the first quarter of 2018, we early adopted the Accounting Standards Update issued by the Financial Accounting Standards Board (“FASB”) related to intra-entity transfers of assets other than inventory. This update requires companies to recognize the income tax consequences of intra-entity transfers of assets other than inventory when the transfer occurs, as opposed to when the assets are ultimately sold to an outside party. As a result of this new guidance, during 2018 we recorded a $50 million income tax benefit and a $14 million adjustment to retained earnings for the cumulative effect at adoption. In January 2017, the FASB issued an Accounting Standards Update that simplifies the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this new guidance, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, up to the total amount of goodwill allocated to that reporting unit. We adopted the guidance during the fourth quarter of 2018. In 2014, the FASB and International Accounting Standards Board issued a new accounting standard that will supersede virtually all existing revenue recognition guidance under generally accepted accounting principles in the United States. The fundamental principles of the new guidance are that companies should recognize revenue in a manner that reflects the timing of the transfer of services to customers and the amount of revenue recognized reflects the consideration that a company expects to receive for the goods and services provided. The new guidance establishes a five-step approach for the recognition of revenue. We finalized our assessment of the impact of this new standard on our consolidated financial statements and related disclosures, including detailed contract reviews, and adopted this standard as of June 1, 2018 (fiscal 2019). We have analyzed our internal control over financial reporting framework and determined that there will be new controls around contract inception and contract modification, as well as periodic review of material contracts. We determined that the new guidance will not have a material impact on our revenue recognition policies, practices or systems. In March 2017, the FASB issued an Accounting Standards Update that changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. This new guidance requires entities to report the service cost component in the same line item or items as other compensation costs. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component outside of income from operations. This standard will impact our operating income but will have no impact on our net income or earnings per share. For example, adoption of this guidance would have reduced operating income by $598 million in 2018 and by $471 million in 2017, but would not have impacted our net income in these periods. This new guidance is effective June 1, 2018 and will be applied retrospectively. In 2016, the FASB issued a new lease accounting standard which requires lessees to put most leases on their balance sheets but recognize the expenses in their income statements in a manner similar to current practice. The new standard states that a lessee will recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. Expenses related to leases determined to be operating leases will be recognized on a straight-line basis, while those determined to be financing leases will be recognized following a front-loaded expense profile in which interest and amortization are presented separately in the income statement. Based on our lease portfolio, we currently anticipate recognizing a lease liability and related right-of-use asset on our balance sheet in excess of $13 billion, with an immaterial impact on our income statement compared to the current lease accounting model. However, the ultimate impact of the standard will depend on the company’s lease portfolio as of the adoption date. We are currently accumulating all of the necessary information required to properly account for the leases under the new standard. Additionally, we are implementing an enterprise-wide lease management system to assist in the accounting and are evaluating additional changes to our processes and internal controls to ensure we meet the standard’s reporting and disclosure requirements. These changes will be effective June 1, 2019 (fiscal 2020). In February 2018, the FASB issued an Accounting Standards Update that will permit companies to reclassify the income tax effect of the TCJA on items within AOCI to retained earnings. These changes will be effective June 1, 2019 (fiscal 2020).

Business Combinations

Business Combinations	12 Months Ended
	May 31, 2018
Business Combinations [Abstract]
Business Combinations	NOTE 3: BUSINESS COMBINATIONS On March 23, 2018, we acquired P2P Mailing Limited, a leading provider of worldwide, low-cost e-commerce transportation solutions, for £92 million ($135 million) in cash from operations. The majority of the purchase price was allocated to goodwill. The financial results of this acquired business are included in the FedEx Trade Networks, Inc. (“FedEx Trade Networks”) operating segment from the date of acquisition and were not material to our results of operations. Therefore, pro forma financial information has not been provided. On October 13, 2017, we acquired Northwest Research, Inc., a leader in inventory research and management, for $50 million in cash from operations. The majority of the purchase price was allocated to property and equipment. The financial results of this acquired business are included in the FedEx Services segment from the date of acquisition and were not material to our results of operations. Therefore, pro forma financial information has not been provided. On May 25, 2016, we acquired TNT Express for €4.4 billion ($4.9 billion). Cash acquired in the acquisition was approximately €250 million ($280 million). All shares associated with the transaction were tendered or transferred as of the third quarter of 2017. We funded the acquisition with proceeds from an April 2016 debt issuance and existing cash balances. The financial results of this business for 2018 and 2017 are included in the FedEx Express segment. Financial results for 2016 were immaterial from the time of acquisition and are included in “Corporate, other and eliminations” in our segment reporting. TNT Express collects, transports and delivers documents, parcels and freight to over 200 countries and territories. This strategic acquisition broadens our portfolio of international transportation solutions with the combined strength of TNT Express’s strong European road platform and FedEx Express’s strength in other regions globally. Our purchase price allocation for TNT Express was finalized in the fourth quarter of 2017. As a result of this acquisition, we recognized $3.5 billion of goodwill, which is primarily attributable to the expected benefits from synergies of the combination with existing businesses and growth opportunities and the TNT Express workforce. The majority of the purchase price allocated to goodwill is not deductible for income tax purposes. The following table summarizes the final amounts of the fair values recognized for the assets acquired and liabilities assumed for this acquisition, as well as adjustments made during the measurement period (in millions): Preliminary Measurement Period Final May 31, 2016 Adjustments May 31, 2017 Current assets (1) $ 1,905 $ (53 ) $ 1,852 Property and equipment 1,104 (124 ) 980 Goodwill 2,964 488 3,452 Identifiable intangible assets 920 (390 ) 530 Other non-current assets 289 183 472 Current liabilities (2) (1,644 ) (44 ) (1,688 ) Long-term liabilities (644 ) (60 ) (704 ) Total purchase price $ 4,894 $ — $ 4,894 (1) Primarily accounts receivable and cash. (2) Primarily accounts payable and accrued expenses. Adjustments to the preliminary purchase price allocation as of May 31, 2016 resulted in a net increase to goodwill of $488 million. These updates were primarily recorded during the second quarter of 2017 and reflect the valuation work completed by third-party experts and the receipt of additional information during the measurement period about facts and circumstances that existed at the acquisition date. The purchase price was allocated to the identifiable intangible assets acquired as follows (in millions): Intangible assets with finite lives Customer relationships (12-year life) $ 430 Technology (3-year life) 20 Trademarks (4-year life) 80 Total intangible assets $ 530 See Note 4 for further discussion of our intangible assets. The following unaudited pro forma consolidated financial information presents the combined operations of FedEx and TNT Express as if the acquisition had occurred at the beginning of 2015 (dollars in millions, except per share amounts): (Unaudited) 2016 2015 Consolidated revenues $ 57,899 $ 55,862 Consolidated net income 1,600 638 Diluted earnings per share $ 5.73 $ 2.22 The accounting literature establishes guidelines regarding the presentation of this unaudited pro forma information. Therefore, this unaudited pro forma information is not intended to represent, nor do we believe it is indicative of, the consolidated results of operations of FedEx that would have been reported had the acquisition been completed as of the beginning of 2015. Furthermore, this unaudited pro forma information does not give effect to the anticipated business and tax synergies of the acquisition and is not representative or indicative of the anticipated future consolidated results of operations of FedEx. The unaudited pro forma consolidated financial information reflects our historical financial information and the historical results of TNT Express, after conversion of TNT Express’s accounting methods from International Financial Reporting Standards to U.S. generally accepted accounting principles, adjusted to reflect the acquisition had it been completed as of the beginning of 2015. The most significant pro forma adjustments to the historical results of operations relate to the application of purchase accounting and the financing for the acquisition. The unaudited pro forma financial information includes various assumptions, including those related to the finalization of the purchase price allocation. The tax impact of these adjustments was calculated based on TNT Express’s statutory rate. Included in the unaudited pro forma net income (net of tax) are nonrecurring acquisition-related costs incurred by TNT Express associated with the sale of TNT Express’s airline operations, a condition precedent to the acquisition, and transaction and integration- planning expenses of $115 million in 2016. In addition, the TNT Express results include expenses for restructuring, impairments, litigation matters and pension adjustments of approximately $40 million in 2016.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	May 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill And Other Intangible Assets	NOTE 4: GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL. The carrying amount of goodwill attributable to each reportable operating segment and changes therein are as follows (in millions): FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Corporate, Other and Eliminations Total Goodwill at May 31, 2016 $ 4,546 $ 827 $ 764 $ 1,525 $ 395 $ 8,057 Accumulated impairment charges — — (133 ) (1,177 ) — (1,310 ) Balance as of May 31, 2016 4,546 827 631 348 395 6,747 Purchase adjustments and other (1) 407 — — — — 407 Balance as of May 31, 2017 4,953 827 631 348 395 7,154 Goodwill acquired (2) 76 14 3 — 32 125 Purchase adjustments and other (1) 71 (1 ) — — (2 ) 68 Impairment charges (3) — — — — (374 ) (374 ) Balance as of May 31, 2018 $ 5,100 $ 840 $ 634 $ 348 $ 51 $ 6,973 Accumulated goodwill impairment charges as of May 31, 2018 $ — $ — $ (133 ) $ (1,177 ) $ (374 ) $ (1,684 ) (1) Primarily purchase-related adjustments, currency translation adjustments, and acquired goodwill related to immaterial acquisitions. (2) Goodwill acquired relates to the acquisitions of Northwest Research, Inc. and P2P Mailing Limited. See Note 3 for more information. (3) Impairment charges related to the goodwill impairment of FedEx Supply Chain described below. Our reporting units with significant recorded goodwill include FedEx Express, FedEx Ground, FedEx Freight, FedEx Office (reported in the FedEx Services segment) and FedEx Supply Chain (reported in the FedEx Trade Networks operating segment, which is included in “Corporate, other and eliminations”) in our segment reporting. In 2018, we incurred a goodwill impairment charge of $374 million related to FedEx Supply Chain, eliminating substantially all of the goodwill attributable to this reporting unit. In our evaluation of the goodwill of this reporting unit, we compared the fair value of the reporting unit to its carrying value (including attributable goodwill). Fair value was estimated using standard valuation methodologies (principally the income and market approach) incorporating market participant considerations and management’s assumptions on revenue growth rates, operating margins, discount rates and expected capital expenditures. The key factors contributing to the goodwill impairment were underperformance of the FedEx Supply Chain business during 2018, including base business erosion, and the failure to attain the level of operating synergies and revenue and profit growth anticipated at the time of the acquisition. Based on these factors, our outlook for the business and industry changed in the fourth quarter of 2018. No other impairments of goodwill were recognized during 2018, 2017 or 2016. OTHER INTANGIBLE ASSETS. The summary of our intangible assets and related accumulated amortization at May 31, 2018 and 2017 is as follows (in millions): 2018 2017 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 676 $ (250 ) $ 426 $ 656 $ (203 ) $ 453 Technology 68 (39 ) 29 54 (26 ) 28 Trademarks and other 141 (116 ) 25 136 (88 ) 48 Total $ 885 $ (405 ) $ 480 $ 846 $ (317 ) $ 529 Amortization expense for intangible assets was $87 million in 2018, $91 million in 2017 and $14 million in 2016. Expected amortization expense for the next five years is as follows (in millions): 2019 $ 81 2020 63 2021 50 2022 44 2023 42

Selected Current Liabilities

Selected Current Liabilities	12 Months Ended
	May 31, 2018
Accounts Payable And Accrued Liabilities Fair Value Disclosure [Abstract]
Selected Current Liabilities	NOTE 5: SELECTED CURRENT LIABILITIES The components of selected current liability captions at May 31 were as follows (in millions): 2018 2017 Accrued Salaries and Employee Benefits Salaries $ 498 $ 431 Employee benefits, including variable compensation 933 781 Compensated absences 746 702 $ 2,177 $ 1,914 Accrued Expenses Self-insurance accruals $ 957 $ 976 Taxes other than income taxes 334 283 Other 1,840 1,971 $ 3,131 $ 3,230

Long-Term Debt and Other Financ

Long-Term Debt and Other Financing Arrangements	12 Months Ended
	May 31, 2018
Debt And Capital Lease Obligations [Abstract]
Long-term Debt and Other Financing Arrangements	NOTE 6: LONG-TERM DEBT AND OTHER FINANCING ARRANGEMENTS The components of long-term debt (net of discounts and debt issuance costs), along with maturity dates for the years subsequent to May 31, 2018, are as follows (in millions): May 31, 2018 2017 Interest Rate% Maturity Senior unsecured debt: 8.00 2019 $ 750 $ 749 2.30 2020 399 398 2.625-2.70 2023 746 745 4.00 2024 746 745 3.20 2025 695 695 3.25 2026 744 743 3.30 2027 445 445 3.40 2028 495 - 4.90 2034 495 495 3.90 2035 493 493 3.875-4.10 2043 983 983 5.10 2044 742 742 4.10 2045 640 640 4.55-4.75 2046 2,459 2,458 4.40 2047 735 734 4.05 2048 986 - 4.50 2065 246 246 7.60 2098 237 237 Euro senior unsecured debt: floating rate 2019 582 558 0.50 2020 581 557 1.00 2023 869 833 1.625 2027 1,442 1,382 Total senior unsecured debt 16,510 14,878 Other debt 4 9 Capital lease obligations 71 44 16,585 14,931 Less current portion 1,342 22 $ 15,243 $ 14,909 Interest on our U.S. dollar fixed-rate notes is paid semi-annually. Interest on our euro fixed-rate notes is paid annually. Our floating-rate euro senior notes bear interest at three-month EURIBOR plus a spread of 55 basis points and resets quarterly. The weighted average interest rate on long-term debt was 3.6% in 2018. Long-term debt, exclusive of capital leases, had estimated fair values of $16.6 billion at May 31, 2018 and $15.5 billion at May 31, 2017. The estimated fair values were determined based on quoted market prices and the current rates offered for debt with similar terms and maturities. The fair value of our long-term debt is classified as Level 2 within the fair value hierarchy. This classification is defined as a fair value determined using market-based inputs other than quoted prices that are observable for the liability, either directly or indirectly. We have a shelf registration statement filed with the SEC that allows us to sell, in one or more future offerings, any combination of our unsecured debt securities and common stock. On January 30, 2018, we issued $1.5 billion of senior unsecured debt under our current shelf registration statement, comprised of $500 million of 3.40% fixed-rate notes due in February 2028 and $1 billion of 4.05% fixed-rate notes due in February 2048. Interest on these notes is paid semiannually. We used the net proceeds for a voluntary incremental contribution in February 2018 to our tax-qualified U.S. domestic pension plans (“U.S. Pension Plans”). During 2018, we amended our five-year revolving credit facility to increase the aggregate amount available under the facility from $1.75 billion to $2.0 billion. The facility, which expires in November 2020 and includes a $500 million letter of credit sublimit, is available to finance our operations and other cash flow needs. The agreement contains a financial covenant, which requires us to maintain a ratio of debt to consolidated earnings (excluding non-cash retirement plans MTM adjustments and non-cash asset impairment charges) before interest, taxes, depreciation and amortization (“adjusted EBITDA”) of not more than 3.5 to 1.0, calculated as of the end of the applicable quarter on a rolling four-quarters basis. The ratio of our debt to adjusted EBITDA was 2.0 to 1.0 at May 31, 2018. We believe this covenant is the only significant restrictive covenant in our revolving credit agreement. Our revolving credit agreement contains other customary covenants that do not, individually or in the aggregate, materially restrict the conduct of our business. We are in compliance with the financial covenant and all other covenants of our revolving credit agreement and do not expect the covenants to affect our operations, including our liquidity or expected funding needs. As of May 31, 2018, no commercial paper was outstanding. However, we had a total of $54 million in letters of credit outstanding at May 31, 2018, with $446 million of the letter of credit sublimit unused under our revolving credit facility.

Leases

Leases	12 Months Ended
	May 31, 2018
Leases [Abstract]
Leases	NOTE 7: LEASES We utilize certain aircraft, land, facilities, retail locations and equipment under capital and operating leases that expire at various dates through 2049. We leased 7% of our total aircraft fleet under operating leases as of May 31, 2018 and 9% as of May 31, 2017. A portion of our supplemental aircraft are leased by us under agreements that provide for cancellation upon 30 days’ notice. Our leased facilities include national, regional and metropolitan sorting facilities, retail facilities and administrative buildings. Rent expense under operating leases for the years ended May 31 was as follows (in millions): 2018 2017 2016 Minimum rentals $ 2,913 $ 2,814 $ 2,394 Contingent rentals (1) 194 178 214 $ 3,107 $ 2,992 $ 2,608 (1) Contingent rentals are based on equipment usage. A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at May 31, 2018 is as follows (in millions): Operating Leases Aircraft and Related Equipment Facilities and Other Total Operating Leases 2019 $ 343 $ 2,128 $ 2,471 2020 261 1,916 2,177 2021 203 1,748 1,951 2022 185 1,577 1,762 2023 127 1,421 1,548 Thereafter 48 8,145 8,193 Total $ 1,167 $ 16,935 $ 18,102 Property and equipment recorded under capital leases and future minimum lease payments under capital leases are immaterial. The weighted-average remaining lease term of all operating leases outstanding at May 31, 2018 was approximately six years. While certain of our lease agreements contain covenants governing the use of the leased assets or require us to maintain certain levels of insurance, none of our lease agreements include material financial covenants or limitations. FedEx Express makes payments under certain leveraged operating leases that are sufficient to pay principal and interest on certain pass-through certificates. The pass-through certificates are not direct obligations of, or guaranteed by, FedEx or FedEx Express. We are the lessee under certain operating leases covering a portion of our leased aircraft in which the lessors are trusts established specifically to purchase, finance and lease these aircraft to us. These leasing entities are variable interest entities. We are not the primary beneficiary of the leasing entities, as the lease terms are at market at the inception of the lease and do not include a residual value guarantee, fixed-price purchase option or similar feature that obligates us to absorb decreases in value or entitles us to participate in increases in the value of the aircraft. Therefore, we are not required to consolidate any of these entities as the primary beneficiary. Our maximum exposure under these leases is included in the summary of future minimum lease payments.

Preferred Stock

Preferred Stock	12 Months Ended
	May 31, 2018
Preferred Stock [Abstract]
Preferred Stock	NOTE 8: PREFERRED STOCK Our Certificate of Incorporation authorizes the Board of Directors, at its discretion, to issue up to 4,000,000 shares of preferred stock. The stock is issuable in series, which may vary as to certain rights and preferences, and has no par value. As of May 31, 2018, none of these shares had been issued.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	May 31, 2018
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income	NOTE 9: ACCUMULATED OTHER COMPREHENSIVE INCOME The following table provides changes in AOCI, net of tax, reported in the consolidated financial statements for the years ended May 31 (in millions; amounts in parentheses indicate debits to AOCI): 2018 2017 2016 Foreign currency translation gain (loss): Balance at beginning of period $ (685 ) $ (514 ) $ (253 ) Translation adjustments (74 ) (171 ) (261 ) Balance at end of period (759 ) (685 ) (514 ) Retirement plans adjustments: Balance at beginning of period 270 345 425 Prior service credit and other arising during period (4 ) 1 (4 ) Reclassifications from AOCI (85 ) (76 ) (76 ) Balance at end of period 181 270 345 Accumulated other comprehensive (loss) income at end of period $ (578 ) $ (415 ) $ (169 ) The following table presents details of the reclassifications from AOCI for the years ended May 31 (in millions; amounts in parentheses indicate debits to earnings): Amount Reclassified from AOCI Affected Line Item in the Income Statement 2018 2017 2016 Amortization of retirement plans prior service credits, before tax $ 121 $ 120 $ 121 Salaries and employee benefits Income tax benefit (36 ) (44 ) (45 ) Provision for income taxes AOCI reclassifications, net of tax $ 85 $ 76 $ 76 Net income

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	May 31, 2018
Employee Service Share Based Compensation Aggregate Disclosures [Abstract]
Stock-Based Compensation	NOTE 10: STOCK-BASED COMPENSATION Our total stock-based compensation expense for the years ended May 31 was as follows (in millions): 2018 2017 2016 Stock-based compensation expense $ 167 $ 154 $ 144 We have two types of equity-based compensation: stock options and restricted stock. STOCK OPTIONS . Under the provisions of our incentive stock plan, key employees and non-employee directors may be granted options to purchase shares of our common stock at a price not less than its fair market value on the date of grant. Vesting requirements are determined at the discretion of the Compensation Committee of our Board of Directors. Option-vesting periods range from one to four years, with 82% of our options vesting ratably over four years. Compensation expense associated with these awards is recognized on a straight-line basis over the requisite service period of the award. RESTRICTED STOCK. Under the terms of our incentive stock plan, restricted shares of our common stock are awarded to key employees. All restrictions on the shares expire ratably over a four-year period. Shares are valued at the market price on the date of award. The terms of our restricted stock provide for continued vesting subsequent to the employee’s retirement. Compensation expense associated with these awards is recognized on a straight-line basis over the shorter of the remaining service or vesting period. VALUATION AND ASSUMPTIONS . We use the Black-Scholes option pricing model to calculate the fair value of stock options. The value of restricted stock awards is based on the stock price of the award on the grant date. We record stock-based compensation expense in the “Salaries and employee benefits” caption in the accompanying consolidated statements of income. The key assumptions for the Black-Scholes valuation method include the expected life of the option, stock price volatility, a risk-free interest rate and dividend yield. The following is a table of the weighted-average Black-Scholes value of our stock option grants, the intrinsic value of options exercised (in millions) and the key weighted-average assumptions used in the valuation calculations for options granted during the years ended May 31, and then a discussion of our methodology for developing each of the assumptions used in the valuation model: 2018 2017 2016 Weighted-average Black-Scholes value $ 55.72 $ 43.99 $ 52.40 Intrinsic value of options exercised $ 359 $ 274 $ 115 Black-Scholes Assumptions: Expected lives 6.5 years 6.5 years 6.4 years Expected volatility 23 % 25 % 28 % Risk-free interest rate 2.07 % 1.64 % 1.94 % Dividend yield 0.796 % 0.719 % 0.519 % The expected life represents an estimate of the period of time options are expected to remain outstanding, and we examine actual stock option exercises to determine the expected life of the options. Options granted have a maximum term of 10 years. Expected volatilities are based on the actual changes in the market value of our stock and are calculated using daily market value changes from the date of grant over a past period equal to the expected life of the options. The risk-free interest rate is the U.S. Treasury Strip rate posted at the date of grant having a term equal to the expected life of the option. The expected dividend yield is the annual rate of dividends per share over the exercise price of the option. The following table summarizes information about stock option activity for the year ended May 31, 2018: Stock Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in millions) (1) Outstanding at June 1, 2017 13,598,699 $ 125.66 Granted 2,778,238 221.15 Exercised (2,975,835 ) 109.95 Forfeited (416,185 ) 178.75 Outstanding at May 31, 2018 12,984,917 $ 147.98 6.3 $ 1,326 Exercisable 7,303,111 $ 113.12 4.7 $ 993 Expected to vest 5,382,943 $ 192.79 8.3 $ 315 Available for future grants 15,788,701 (1) Only presented for options with market value at May 31, 2018 in excess of the exercise price of the option. The options granted during 2018 are primarily related to our principal annual stock option grant in June 2017. The following table summarizes information about vested and unvested restricted stock for the year ended May 31, 2018: Restricted Stock Shares Weighted- Average Grant Date Fair Value Unvested at June 1, 2017 362,304 $ 155.53 Granted 155,624 212.60 Vested (177,264 ) 148.94 Forfeited (3,074 ) 148.95 Unvested at May 31, 2018 337,590 $ 185.16 During the year ended May 31, 2017, there were 153,984 shares of restricted stock granted with a weighted-average fair value of $166.12 per share. During the year ended May 31, 2016, there were 139,838 shares of restricted stock granted with a weighted-average fair value of $168.83 per share. The following table summarizes information about stock option vesting during the years ended May 31: Stock Options Vested during the year Fair value (in millions) 2018 2,465,493 $ 112 2017 2,427,837 104 2016 2,572,129 98 As of May 31, 2018, there was $211 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested share-based compensation arrangements. This compensation expense is expected to be recognized on a straight-line basis over the remaining weighted-average vesting period of approximately two years. Total shares outstanding or available for grant related to equity compensation at May 31, 2018 represented 10% of the total outstanding common and equity compensation shares and equity compensation shares available for grant.

Computation of Earnings Per Sha

Computation of Earnings Per Share	12 Months Ended
	May 31, 2018
Earnings Per Share [Abstract]
Computation of Earnings Per Share	NOTE 11: COMPUTATION OF EARNINGS PER SHARE The calculation of basic and diluted earnings per common share for the years ended May 31 was as follows (in millions, except per share amounts): 2018 2017 2016 Basic earnings per common share: Net earnings allocable to common shares (1) $ 4,566 $ 2,993 $ 1,818 Weighted-average common shares 267 266 276 Basic earnings per common share $ 17.08 $ 11.24 $ 6.59 Diluted earnings per common share: Net earnings allocable to common shares (1) $ 4,566 $ 2,993 $ 1,818 Weighted-average common shares 267 266 276 Dilutive effect of share-based awards 5 4 3 Weighted-average diluted shares 272 270 279 Diluted earnings per common share $ 16.79 $ 11.07 $ 6.51 Anti-dilutive options excluded from diluted earnings per common share 2.5 4.5 3.9 (1) Net earnings available to participating securities were immaterial in all periods presented.

Income Taxes

Income Taxes	12 Months Ended
	May 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12: INCOME TAXES The components of the provision for income taxes for the years ended May 31 were as follows (in millions): 2018 2017 2016 Current provision Domestic: Federal $ (540 ) $ 269 $ 513 State and local 43 88 72 Foreign 461 285 200 (36 ) 642 785 Deferred provision (benefit) Domestic: Federal 271 989 155 State and local 125 59 (18 ) Foreign (579 ) (108 ) (2 ) (183 ) 940 135 $ (219 ) $ 1,582 $ 920 Pre-tax earnings of foreign operations for 2018, 2017 and 2016 were $958 million, $919 million and $905 million, respectively. These amounts represent only a portion of total results associated with international shipments and do not represent our international results of operations. A reconciliation of total income tax expense and the amount computed by applying the statutory federal income tax rate (29.2% in 2018 and 35% in 2017 and 2016) to income before taxes for the years ended May 31 is as follows (in millions): 2018 2017 2016 Taxes computed at federal statutory rate $ 1,271 $ 1,603 $ 959 Increases (decreases) in income tax from: Goodwill impairment charge 109 — — State and local income taxes, net of federal benefit 119 99 33 Foreign operations 43 (19 ) (50 ) Corporate structuring transactions (1) (255 ) (68 ) (76 ) Tax Cuts and Jobs Act (2) (1,357 ) — — Foreign tax credits from distributions (225 ) — — Uncertain tax positions 86 — — TNT Express integration and acquisition costs 20 25 40 Other, net (3) (30 ) (58 ) 14 $ (219 ) $ 1,582 $ 920 Effective Tax Rate (5.0 )% 34.6 % 33.6 % (1) The 2018 and 2017 net benefits consist of foreign deferred tax benefits of $434 million and $94 million, respectively, which were partially offset by U.S. deferred tax expenses of $179 million and $26 million, respectively. (2 ) Primary components are a $1.15 billion benefit from the remeasurement of our net U.S. deferred tax liability and a $204 million one-time benefit from a contribution to our U.S. Pensions Plans in February 2018. (3 ) Includes benefits from share-based payments of $60 million and $55 million in 2018 and 2017, respectively. Our 2018 tax rate was favorably impacted by the enactment of the TCJA during the third quarter. In accordance with SAB 118, we have recorded a provisional benefit of $1.15 billion related to the remeasurement of our net U.S. deferred tax liability and an immaterial provisional benefit from the one-time transition tax on previously deferred foreign earnings. In addition, we recognized a benefit of $265 million related to a lower statutory income tax rate on 2018 earnings and a one-time benefit of $204 million from a $1.5 billion contribution to our U.S. Pension Plans in February 2018. Our 2018 tax rate also included a net benefit of $255 million from a tax basis step-up attributable to corporate structuring transactions as part of the ongoing integration of FedEx Express and TNT Express. We also recorded a benefit of $225 million from foreign tax credits generated by distributions to the U.S. from our foreign operations. Our 2017 tax rate was favorably impacted by $62 million as a result of the implementation of new U.S. foreign currency tax regulations. The TCJA makes broad and complex changes to the U.S. tax code that affected 2018 in multiple ways, including but not limited to: (1) reducing our U.S. federal income tax rate from 35% to 29.2% (as discussed below); (2) providing for additional first-year depreciation by allowing full expensing of qualified property placed into service after September 27, 2017; SAB 118 was issued to address the application of U.S. generally accepted accounting principles in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to finalize the calculations for certain income tax effects of the TCJA. In accordance with SAB 118, we have made reasonable estimates and recorded provisional amounts as described below. Under the transitional provisions of SAB 118, we have a one-year measurement period to complete the accounting for the initial tax effects of the TCJA. We are still in the process of completing that accounting. The TCJA reduced the corporate tax rate from 35% to 21%, effective January 1, 2018. U.S. tax law stipulates that our 2018 earnings are subject to a blended tax rate of 29.2%, which is based on the prorated number of days in the fiscal year before and after the effective date. As a result, we have remeasured certain deferred tax assets and deferred tax liabilities accordingly and recorded a provisional net tax benefit of $1.15 billion. The transition tax is based on our total accumulated post-1986 foreign earnings and profits, the majority of which was previously considered to be indefinitely reinvested and, accordingly, no U.S. federal and state income taxes were provided. We recorded a provisional immaterial U.S. tax benefit from foreign tax credits exceeding the one-time transition tax liability and an immaterial provisional amount for state income taxes. Because of the complexities of the TCJA, we are still finalizing our analysis of the transition tax liability calculation. No additional income taxes have been provided for any additional outside basis differences inherent in these entities beyond those basis differences triggered by the transition tax, as these amounts continue to be indefinitely reinvested in foreign operations. Determining the amount of the unrecognized deferred tax liability related to any additional outside basis differences in these entities (e.g., stock basis differences attributable to acquisitions or other permanent differences) is not practicable. We will complete our analysis of the impact of the TCJA on our outside basis differences in subsidiaries and respective indefinite reinvestment assertions during the measurement period and make additional disclosures, if necessary. With respect to the new TCJA provision on global intangible low-tax income, which will apply to us starting in 2019, we have not made an accounting policy election on the deferred tax treatment. Consequently, we have not made an accrual for the deferred tax aspects of this provision. Our accounting for the income tax effects of the TCJA will be completed during the measurement period allowed under SAB 118, and we will record any necessary adjustments in the period such adjustments are identified. While we were able to make a reasonable estimate of the impact of the income tax effects of the new law, it may be affected by, among other items, further analysis of certain aspects of the TCJA, subsequent guidance issued by the U.S. government, and changes to estimates made to calculate our existing temporary differences. The significant components of deferred tax assets and liabilities as of May 31 were as follows (in millions): 2018 2017 Deferred Tax Assets Deferred Tax Liabilities Deferred Tax Assets Deferred Tax Liabilities Property, equipment, leases and intangibles $ 752 $ 3,663 $ 124 $ 4,993 Employee benefits 595 31 1,951 — Self-insurance accruals 494 — 745 — Other 416 602 692 660 Net operating loss/credit carryforwards 1,146 — 1,069 — Valuation allowances (711 ) — (738 ) — $ 2,692 $ 4,296 $ 3,843 $ 5,653 The net deferred tax liabilities as of May 31 have been classified in the balance sheets as follows (in millions): 2018 2017 Noncurrent deferred tax assets (1) $ 1,263 $ 675 Noncurrent deferred tax liabilities (2,867 ) (2,485 ) $ (1,604 ) $ (1,810 ) (1) Noncurrent deferred tax assets are included in the line item “Other Assets” in our consolidated balance sheets. We have approximately $3.6 billion of net operating loss carryovers in various foreign jurisdictions and $770 million of state operating loss carryovers. The valuation allowances primarily represent amounts reserved for operating loss and tax credit carryforwards, which expire over varying periods starting in 2019. Therefore, we establish valuation allowances if it is more likely than not that deferred income tax assets will not be realized. We believe that we will generate sufficient future taxable income to realize the tax benefits related to the remaining net deferred tax assets in our consolidated balance sheet. See Note 1 above for more information on our policy for assessing the recoverability of deferred tax assets and valuation allowances. We are subject to taxation in the U.S. and various U.S. state, local and foreign jurisdictions. The Internal Revenue Service is currently auditing our 2014 and 2015 tax returns. It is reasonably possible that certain income tax return proceedings will be completed during the next 12 months and could result in a change in our balance of unrecognized tax benefits. The expected impact of any changes would not be material to our consolidated financial statements. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): 2018 2017 2016 Balance at beginning of year $ 67 $ 49 $ 36 Increases for tax positions taken in the current year 3 — 3 Increases for tax positions taken in prior years 103 8 3 Increase for business acquisition — 17 25 Decreases for tax positions taken in prior years (10 ) (1 ) (5 ) Settlements (2 ) (4 ) (4 ) Decreases from lapse of statute of limitations — (2 ) (7 ) Changes due to currency translation — — (2 ) Balance at end of year $ 161 $ 67 $ 49 Our liabilities recorded for uncertain tax positions include $142 million at May 31, 2018 and $63 million at May 31, 2017 associated with positions that, if favorably resolved, would provide a benefit to our effective tax rate. We classify interest related to income tax liabilities as interest expense and, if applicable, penalties are recognized as a component of income tax expense. The balance of accrued interest and penalties was $35 million on May 31, 2018 and $11 million on May 31, 2017. Total interest and penalties included in our consolidated statements of income are immaterial. It is difficult to predict the ultimate outcome or the timing of resolution for tax positions. Changes may result from the conclusion of ongoing audits, appeals or litigation in state, local, federal and foreign tax jurisdictions, or from the resolution of various proceedings between U.S. and foreign tax authorities. Our liability for uncertain tax positions includes no matters that are individually or collectively material to us. It is reasonably possible that the amount of the benefit with respect to certain of our unrecognized tax positions will increase or decrease within the next 12 months, but an estimate of the range of the reasonably possible changes cannot be made. However, we do not expect that the resolution of any of our uncertain tax positions will have a material effect on us.

Retirement Plans

Retirement Plans	12 Months Ended
	May 31, 2018
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	NOTE 13: RETIREMENT PLANS We sponsor programs that provide retirement benefits to most of our employees. These programs include defined benefit pension plans, defined contribution plans and postretirement healthcare plans. The accounting guidance related to postretirement benefits requires recognition in the balance sheet of the funded status of defined benefit pension and other postretirement benefit plans, and the recognition in either expense or AOCI of unrecognized gains or losses and prior service costs or credits. We use MTM accounting for the recognition of our actuarial gains and losses related to our defined benefit pension and postretirement healthcare plans as described in Note 1. The funded status is measured as the difference between the fair value of the plan’s assets and the PBO of the plan. A summary of our retirement plans costs over the past three years is as follows (in millions): 2018 2017 2016 Defined benefit pension plans $ 150 $ 234 $ 214 Defined contribution plans 527 480 416 Postretirement healthcare plans 74 76 82 Retirement plans mark-to-market (gain) loss (10 ) (24 ) 1,498 $ 741 $ 766 $ 2,210 The components of the MTM adjustments are as follows (in millions): 2018 2017 2016 Discount rate changes $ (613 ) $ 266 $ 1,129 Demographic assumption experience 382 450 (916 ) Annuity contract purchase 210 — — Actual versus expected return on assets 11 (740 ) 1,285 Total mark-to-market (gain) loss $ (10 ) $ (24 ) $ 1,498 2018 The weighted average discount rate for all of our pension and postretirement healthcare plans increased from 3.98% at May 31, 2017 to 4.11% at May 31, 2018. The demographic assumption experience in 2018 reflects a liability loss due to unfavorable results related to various demographic assumptions. The annuity contract purchase loss relates to the contract with Metropolitan Life Insurance Company as discussed below. The actual rate of return, which is net of all fees and expenses, on our U.S. Pension Plan assets of 6.30% was slightly lower than our expected return of 6.50% primarily due to generally flat returns in the long-duration fixed income portfolio partially offset by strong returns from global equities. 2017 The actual rate of return on our U.S. Pension Plan assets, which is net of all fees and expenses, of 9.2% was higher than our expected return of 6.50% primarily due to a rise in the value of global equity markets in addition to favorable credit market conditions. The weighted average discount rate for all of our pension and postretirement healthcare plans decreased from 4.04% at May 31, 2016 to 3.98% at May 31, 2017. The demographic assumption experience in 2017 reflects an update in mortality tables for U.S. pension and other postemployment benefit plans. 2016 The actual rate of return on our U.S. Pension Plan assets of 0.9%, net of all fees and expenses, was lower than our expected return of 6.50% primarily due to a challenging environment for global equities and other risk-seeking asset classes. The weighted average discount rate for all of our pension and postretirement healthcare plans declined from 4.38% at May 31, 2015 to 4.04% at May 31, 2016. The demographic assumption experience in 2016 reflects a change in disability rates and an increase in the average retirement age for U.S. pension and other postemployment benefit plans. PENSION PLANS . Our largest pension plan covers certain U.S. employees age 21 and over, with at least one year of service. Pension benefits for most employees are accrued under a cash balance formula we call the Portable Pension Account. Under the Portable Pension Account, the retirement benefit is expressed as a dollar amount in a notional account that grows with annual credits based on pay, age and years of credited service, and interest on the notional account balance. The Portable Pension Account benefit is payable as a lump sum or an annuity at retirement at the election of the employee. The plan interest credit rate varies from year to year based on a U.S. Treasury index. Prior to 2009, certain employees earned benefits using a traditional pension formula (based on average earnings and years of service). Benefits under this formula were capped on May 31, 2008 for most employees. We also sponsor or participate in nonqualified benefit plans covering certain of our U.S. employee groups and other pension plans covering certain of our international employees. The international defined benefit pension plans provide benefits primarily based on earnings and years of service and are funded in compliance with local laws and practices. The majority of our international obligations are for defined benefit pension plans in the Netherlands and the United Kingdom. During 2017, our U.S. Pension Plans were amended to permit former employees with a vested traditional pension benefit to make a one-time, irrevocable election to receive their benefits in a lump-sum distribution. Approximately 18,300 former employees elected to receive this lump-sum distribution and a total of approximately $1.3 billion was paid by the plans in May 2017. In May 2018, we entered into an agreement with Metropolitan Life Insurance Company to purchase a group annuity contract and transfer approximately $6 billion of our U.S. Pension Plan obligations. The transaction transferred responsibility for pension benefits to Metropolitan Life Insurance Company for approximately 41,000 of our retirees and beneficiaries who satisfy certain conditions and currently receive a monthly benefit from participating U.S. Pension Plans. There was no change to the pension benefits for any plan participants as a result of this transaction. The purchase of the group annuity contract was funded directly by assets of the U.S. Pension Plans. We recognized a $210 million one-time settlement loss in connection with this transaction, which is included in our 2018 year-end MTM retirement plans adjustment. POSTRETIREMENT HEALTHCARE PLANS . Certain of our subsidiaries offer medical, dental and vision coverage to eligible U.S. retirees and their eligible dependents and a small number of international employees. U.S. employees covered by the principal plan become eligible for these benefits at age 55 and older, if they have permanent, continuous service of at least 10 years after attainment of age 45 if hired prior to January 1, 1988, or at least 20 years after attainment of age 35 if hired on or after January 1, 1988. Postretirement healthcare benefits are capped at 150% of the 1993 per capita projected employer cost, which has been reached under most plans, so these benefits are not subject to future inflation. Effective January 1, 2018, certain of our U.S. postretirement healthcare benefits were converted to a lump-sum benefit in a notional retiree health reimbursement account (HRA) for eligible participants. The HRA is available to reimburse a participant for qualifying healthcare premium costs and limits the company liability to the HRA account balance. The amount of the credit is based on age at January 1, 2018 or upon age at retirement thereafter. In connection with this change, retiree health coverage was closed to most new employees hired on or after January 1, 2018. PENSION PLAN ASSUMPTIONS. The accounting for pension and postretirement healthcare plans includes numerous assumptions, such as: discount rates; expected long-term investment returns on plan assets; future salary increases; employee turnover; mortality; and retirement ages. Weighted-average actuarial assumptions used to determine the benefit obligations and net periodic benefit cost of our plans are as follows: U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Discount rate used to determine benefit obligation 4.27 % 4.08 % 4.13 % 2.37 % 2.43 % 2.46 % 4.33 % 4.32 % 4.43 % Discount rate used to determine net periodic benefit cost 4.08 4.13 4.42 2.43 2.46 2.95 4.32 4.43 4.62 Rate of increase in future compensation levels used to determine benefit obligation 4.43 4.47 4.46 2.26 2.42 2.82 — — — Rate of increase in future compensation levels used to determine net periodic benefit cost 4.47 4.46 4.62 2.42 2.82 3.19 — — — Expected long-term rate of return on assets 6.50 6.50 6.50 3.09 3.18 3.68 — — — Our U.S. Pension Plan assets are invested primarily in publicly tradable securities, and our pension plans hold only a minimal investment in FedEx common stock that is entirely at the discretion of third-party pension fund investment managers. As part of our strategy to manage pension costs and funded status volatility, we follow a liability-driven investment strategy to better align plan assets with liabilities. Establishing the expected future rate of investment return on our pension assets is a judgmental matter, which we review on an annual basis and revise as appropriate. Management considers the following factors in determining this assumption: • the duration of our pension plan liabilities, which drives the investment strategy we can employ with our pension plan assets; • the types of investment classes in which we invest our pension plan assets and the expected compound geometric return we can reasonably expect those investment classes to earn over time, net of all fees and expenses; and • the investment returns we can reasonably expect our investment management program to achieve in excess of the returns we could expect if investments were made strictly in indexed funds. For consolidated pension expense, we assumed a 6.50% expected long-term rate of return on our U.S. Pension Plan assets in 2018, 2017 and 2016. The investment strategy for our U.S. Pension Plan assets is to utilize a diversified mix of public equities, fixed income and alternative investments to earn a long-term investment return that meets our pension plan obligations. Our largest asset classes are Corporate Fixed Income Securities and Government Fixed Income Securities (which are largely benchmarked against the Barclays Long Government, Barclays Long Corporate or the Citigroup 20+ STRIPS indices), and U.S. and non-U.S. Equities (which are mainly benchmarked to the S&P 500 Index and MSCI indices). Accordingly, we do not have any significant concentrations of risk. Active management strategies are utilized within the plan in an effort to realize investment returns in excess of market indices. Our investment strategy also includes the limited use of derivative financial instruments on a discretionary basis to improve investment returns and manage exposure to market risk. The following is a description of the valuation methodologies used for investments measured at fair value: • Cash and cash equivalents . These Level 1 investments include cash, cash equivalents and foreign currency valued using exchange rates. These Level 2 investments include short-term investment funds which are collective funds priced at a constant value by the administrator of the funds. • Domestic, international and global equities . These Level 1 investments are valued at the closing price or last trade reported on the major market on which the individual securities are traded. These Level 2 investments include mutual funds. • Fixed income . We determine the fair value of these Level 2 corporate bonds, U.S. and non-U.S. government securities and other fixed income securities by using bid evaluation pricing models or quoted prices of securities with similar characteristics. • Alternative Investments . The valuation of these Level 3 investments requires significant judgment due to the absence of quoted market prices, the inherent lack of liquidity and the long-term nature of such assets. Investments in private equity, debt, real estate, hedge funds and other private investments are valued at estimated fair value based on quarterly financial information received from the investment advisor and/or general partner. These estimates incorporate factors such as contributions and distributions, market transactions, market comparables and performance multiples. The fair values of investments by level and asset category and the weighted-average asset allocations for our U.S. Pension Plans and most significant international pension plans at the measurement date are presented in the following table (in millions): Plan Assets at Measurement Date 2018 Asset Class (U.S. Plans) Fair Value Actual % Target Range % (1) Quoted Prices in Active Markets Level 1 Other Observable Inputs Level 2 Unobservable Inputs Level 3 Cash and cash equivalents $ 714 3 % 0 - 5% $ 19 $ 695 Equities 30 - 50 U.S. large cap equity (2) 2,449 11 840 International equities (2) 3,506 16 2,681 172 Global equities (2) 1,772 8 U.S. SMID cap equity 780 4 780 Fixed income securities 50 - 70 Corporate 5,834 26 5,834 Government (2) 4,872 22 3,345 Mortgage-backed and other (2) 626 3 125 Alternative investments (2) 1,573 7 0 - 10 $ 209 Other (69 ) — (62 ) (7 ) Total U.S. plan assets $ 22,057 100 % $ 4,258 $ 10,164 $ 209 Asset Class (International Plans) Cash and cash equivalents $ 24 2 % $ 2 $ 22 Equities International equities (2) 146 11 70 Global equities (2) 228 17 Fixed income securities Corporate (2) 306 23 68 Government (2) 452 34 108 256 Mortgage-backed and other (2) 168 13 Alternative investments 19 2 19 Other (23 ) (2 ) (6 ) (17 ) Total international plan assets $ 1,320 100 % $ 104 $ 418 (1) Target ranges have not been provided for international plan assets as they are managed at an individual country level. (2) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total. Plan Assets at Measurement Date 2017 Asset Class (U.S. Plans) Fair Value Actual % Target Range % (1) Quoted Prices in Active Markets Level 1 Other Observable Inputs Level 2 Unobservable Inputs Level 3 Cash and cash equivalents $ 1,076 4 % 0 - 5% $ 26 $ 1,050 Equities 30 - 50 U.S. large cap equity (2) 2,415 10 830 International equities (2) 3,521 14 2,747 157 Global equities (2) 3,276 13 U.S. SMID cap equity 987 4 987 Fixed income securities 50 - 70 Corporate 8,163 33 8,163 Government (2) 4,674 19 3,454 Mortgage-backed and other (2) 603 2 129 Alternative investments (2) 377 2 0 - 5 $ 129 Other (159 ) (1 ) (161 ) 2 Total U.S. plan assets $ 24,933 100 % $ 4,429 $ 12,955 $ 129 Asset Class (International Plans) Cash and cash equivalents $ 48 4 % $ 2 $ 46 Equities International equities (2) 137 11 72 Global equities (2) 202 17 Fixed income securities Corporate (2) 270 22 49 Government (2) 405 34 95 230 Mortgage-backed and other (2) 145 12 Alternative investments 17 1 17 Other (18 ) (1 ) (2 ) (16 ) Total international plan assets $ 1,206 100 % $ 95 $ 398 (1) Target ranges have not been provided for international plan assets as they are managed at an individual country level. (2) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total. The change in fair value of Level 3 assets that use significant unobservable inputs is shown in the table below (in millions): U.S. Pension Plans 2018 2017 Balance at beginning of year $ 129 $ 48 Actual return on plan assets: Assets held during current year 8 5 Assets sold during the year 4 1 Purchases, sales and settlements 68 75 Balance at end of year $ 209 $ 129 The following table provides a reconciliation of the changes in the pension and postretirement healthcare plans’ benefit obligations and fair value of assets over the two-year period ended May 31, 2018 and a statement of the funded status as of May 31, 2018 and 2017 (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2018 2017 2018 2017 Accumulated Benefit Obligation (“ABO”) $ 22,029 $ 27,244 $ 1,956 $ 1,842 Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”) PBO/APBO at the beginning of year $ 27,870 $ 27,804 $ 2,043 $ 1,798 $ 927 $ 905 Service cost 679 638 97 83 36 36 Interest cost 1,115 1,128 49 43 39 39 Actuarial loss 21 571 (34 ) 161 (9 ) (14 ) Benefits paid (854 ) (2,271 ) (46 ) (38 ) (80 ) (72 ) Settlements (6,178 ) — (5 ) (7 ) — — Purchase accounting adjustment — — — 26 — — Other — — 63 (23 ) 42 33 PBO/APBO at the end of year $ 22,653 $ 27,870 $ 2,167 $ 2,043 $ 955 $ 927 Change in Plan Assets Fair value of plan assets at the beginning of year $ 24,933 $ 23,017 $ 1,379 $ 1,254 $ — $ — Actual return on plan assets 1,609 2,167 49 112 — — Company contributions 2,547 2,020 84 95 42 36 Benefits paid (854 ) (2,271 ) (46 ) (38 ) (80 ) (72 ) Settlements (6,178 ) — (5 ) (7 ) — — Other — — 48 (37 ) 38 36 Fair value of plan assets at the end of year $ 22,057 $ 24,933 $ 1,509 $ 1,379 $ — $ — Funded Status of the Plans $ (596 ) $ (2,937 ) $ (658 ) $ (664 ) $ (955 ) $ (927 ) Amount Recognized in the Balance Sheet at May 31: Noncurrent asset $ — $ — $ 73 $ 40 $ — $ — Current pension, postretirement healthcare and other benefit obligations (22 ) (33 ) (16 ) (17 ) (62 ) (39 ) Noncurrent pension, postretirement healthcare and other benefit obligations (574 ) (2,904 ) (715 ) (687 ) (893 ) (888 ) Net amount recognized $ (596 ) $ (2,937 ) $ (658 ) $ (664 ) $ (955 ) $ (927 ) Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost: Prior service (credit) cost and other $ (292 ) $ (410 ) $ (10 ) $ (13 ) $ 2 $ (4 ) Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost expected to be amortized in next year’s Net Periodic Benefit Cost: Prior service credit and other $ (118 ) $ (118 ) $ (2 ) $ (2 ) $ — $ — Our pension plans included the following components at May 31 (in millions): PBO Fair Value of Plan Assets Funded Status 2018 Qualified $ 22,413 $ 22,057 $ (356 ) Nonqualified 240 — (240 ) International Plans 2,167 1,509 (658 ) Total $ 24,820 $ 23,566 $ (1,254 ) 2017 Qualified $ 27,600 $ 24,933 $ (2,667 ) Nonqualified 270 — (270 ) International Plans 2,043 1,379 (664 ) Total $ 29,913 $ 26,312 $ (3,601 ) The table above provides the PBO, fair value of plan assets and funded status of our pension plans on an aggregated basis. The following table presents our plans on a disaggregated basis to show those plans (as a group) whose assets did not exceed their liabilities. The fair value of plan assets for pension plans with a PBO or ABO in excess of plan assets at May 31 were as follows (in millions): PBO Exceeds the Fair Value of Plan Assets 2018 2017 U.S. Pension Benefits Fair value of plan assets $ 22,057 $ 24,933 PBO (22,653 ) (27,870 ) Net funded status $ (596 ) $ (2,937 ) International Pension Benefits Fair value of plan assets $ 1,060 $ 952 PBO (1,791 ) (1,656 ) Net funded status $ (731 ) $ (704 ) ABO Exceeds the Fair Value of Plan Assets 2018 2017 U.S. Pension Benefits ABO (1) $ (1,134 ) $ (27,244 ) Fair value of plan assets 859 24,933 PBO (1,214 ) (27,870 ) Net funded status $ (355 ) $ (2,937 ) International Pension Benefits ABO (1) $ (1,581 ) $ (1,433 ) Fair value of plan assets 1,060 928 PBO (1,791 ) (1,626 ) Net funded status $ (731 ) $ (698 ) (1) ABO not used in determination of funded status. Contributions to our U.S. Pension Plans for the years ended May 31 were as follows (in millions): 2018 2017 Required $ 22 $ 459 Voluntary 2,478 1,541 $ 2,500 $ 2,000 For 2019, no pension contributions will be required for our U.S. Pension Plans as they are fully funded under the Employee Retirement Income Security Act. However, we expect to make tax-deductible discretionary contributions to those plans at levels significantly less than those made in 2018, in addition to required contributions to certain international pension plans. We expect total pension plan contributions to be substantially less than those made in 2018. Net periodic benefit cost for the three years ended May 31 were as follows (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Service cost $ 679 $ 638 $ 622 $ 97 $ 83 $ 40 $ 36 $ 36 $ 40 Interest cost 1,115 1,128 1,155 49 43 25 39 39 42 Expected return on plan assets (1,624 ) (1,501 ) (1,490 ) (46 ) (38 ) (18 ) — — — Amortization of prior service credit (118 ) (118 ) (118 ) (2 ) (2 ) (3 ) (1 ) — — Actuarial losses (gains) and other 37 (95 ) 1,563 (38 ) 87 (1 ) (9 ) (14 ) (64 ) Net periodic benefit cost $ 89 $ 52 $ 1,732 $ 60 $ 173 $ 43 $ 65 $ 61 $ 18 Amounts recognized in other comprehensive income (“OCI”) for all plans for the years ended May 31 were as follows (in millions): 2018 2017 U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Prior service cost (credit) arising during period $ — $ — $ — $ — $ 5 $ 4 $ — $ — $ 1 $ 1 $ (3 ) $ (2 ) Amortizations: Prior services credit 118 83 2 1 1 1 118 74 2 2 — — Total recognized in OCI $ 118 $ 83 $ 2 $ 1 $ 6 $ 5 $ 118 $ 74 $ 3 $ 3 $ (3 ) $ (2 ) Benefit payments, which reflect expected future service, are expected to be paid as follows for the years ending May 31 (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2019 $ 680 $ 48 $ 62 2020 781 48 65 2021 846 54 69 2022 951 71 73 2023 1,071 79 76 2024-2028 7,325 428 369 These estimates are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates. Future medical benefit claims costs are estimated to increase at an annual rate of 6.30% during 2019, decreasing to an annual growth rate of 4.50% in 2037 and thereafter. A 1% change in these annual trend rates would not have a significant impact on the APBO at May 31, 2018 or 2018 benefit expense because the level of these benefits is capped.

Business Segment Information

Business Segment Information	12 Months Ended
	May 31, 2018
Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]
Business Segment Information	NOTE 14: BUSINESS SEGMENT INFORMATION FedEx Express, FedEx Ground and FedEx Freight represent our major service lines and, along with FedEx Services, constitute our reportable segments. Our reportable segments include the following businesses: FedEx Express Segment FedEx Express (express transportation) TNT Express (international express transportation, small-package ground delivery and freight transportation) FedEx Ground Segment FedEx Ground (small-package ground delivery) FedEx Freight Segment FedEx Freight (LTL freight transportation) FedEx Services Segment FedEx Services (sales, marketing, information technology, communications, customer service, technical support, billing and collection services and back-office functions) FedEx Office (document and business services and package acceptance) In 2018, FedEx Express and TNT Express are reported as one segment. This new segment is the result of combining the financial information of the FedEx Express and TNT Express segments (previously referred to as the FedEx Express group) as part of the operational integration of these two businesses. As integration activities have progressed, the FedEx Express and TNT Express businesses have lost their historical discrete financial profiles, as the businesses are being combined. Therefore, discrete financial information for FedEx Express and TNT Express does not exist in a manner to evaluate performance and make resource allocation decisions. In addition, this new reporting structure aligns with our management reporting structure and our internal financial reporting and compensation plans. In the fourth quarter of 2018, we realigned our specialty logistics and e-commerce solutions in a new organizational structure under FedEx Trade Networks. The realignment allows us to improve our ability to deliver the capabilities of our specialty services companies to customers. The new organization includes FedEx Trade Networks Transport & Brokerage, Inc., FedEx Cross Border Technologies, Inc., FedEx Supply Chain, FedEx Custom Critical, Inc., and FedEx Forward Depots, Inc. FedEx Trade Networks operating segment results are included in “Corporate, other and eliminations” in our segment reporting. Prior period segment results for all of our transportation segments have been recast to conform to the current year presentation for these organizational structure changes. FedEx Services Segment The FedEx Services segment operates combined sales, marketing, administrative and information-technology functions in shared services operations that support our transportation businesses and allow us to obtain synergies from the combination of these functions. For the international regions of FedEx Express some of these functions are performed on a regional basis and reported by each respective company in their natural expense line items. The FedEx Services segment includes: FedEx Services, which provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services for U.S. customers of our major business units and certain back-office support to our other companies; and FedEx Office, which provides an array of document and business services and retail access to our customers for our package transportation businesses. The FedEx Services segment provides direct and indirect support to our transportation businesses, and we allocate all of the net operating costs of the FedEx Services segment (including the net operating results of FedEx Office) to reflect the full cost of operating our transportation businesses in the results of those segments. Within the FedEx Services segment allocation, the net operating results of FedEx Office, which are an immaterial component of our allocations, are allocated to FedEx Express and FedEx Ground. We review and evaluate the performance of our transportation segments based on operating income (inclusive of FedEx Services segment allocations). For the FedEx Services segment, performance is evaluated based on the impact of its total allocated net operating costs on our transportation segments. Operating expenses for each of our transportation segments include the allocations from the FedEx Services segment to the respective transportation segments. These allocations also include charges and credits for administrative services provided between operating companies. The allocations of net operating costs are based on metrics such as relative revenues or estimated services provided. We believe these allocations approximate the net cost of providing these functions. Our allocation methodologies are refined periodically, as necessary, to reflect changes in our businesses. Other Intersegment Transactions Corporate and other includes corporate headquarters costs for executive officers and certain legal and finance functions, as well as certain other costs and credits not attributed to our core business. These costs are not allocated to the other business segments. Also included in corporate and other is the FedEx Trade Networks operating segment, which provides customs brokerage and global ocean and air freight forwarding through FedEx Trade Networks Transport & Brokerage; cross-border enablement and technology solutions and e-commerce transportation solutions through FedEx Cross Border; integrated supply chain management solutions through FedEx Supply Chain; time-critical shipment services through FedEx Custom Critical; and, effective September 1, 2018, critical inventory and service parts logistics, 3-D printing and technology repair through FedEx Forward Depots. Certain FedEx operating companies provide transportation and related services for other FedEx companies outside their reportable segment. Billings for such services are based on negotiated rates, which we believe approximate fair value, and are reflected as revenues of the billing segment. These rates are adjusted from time to time based on market conditions. Such intersegment revenues and expenses are eliminated in our consolidated results and are not separately identified in the following segment information, because the amounts are not material. The following table provides a reconciliation of reportable segment revenues, depreciation and amortization, operating income (loss) and segment assets to consolidated financial statement totals (in millions) for the years ended or as of May 31: FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Corporate, other and eliminations (1) Consolidated Total Revenues 2018 $ 36,172 $ 18,395 $ 6,812 $ 1,650 $ 2,421 $ 65,450 2017 33,824 16,503 6,070 1,621 2,301 60,319 2016 25,553 15,051 5,825 1,593 2,343 50,365 Depreciation and amortization 2018 $ 1,679 $ 681 $ 296 $ 382 $ 57 $ 3,095 2017 1,662 627 265 371 70 2,995 2016 1,377 556 244 384 70 2,631 Operating income (loss) 2018 (2) $ 2,578 $ 2,605 $ 517 $ — $ (830 ) $ 4,870 2017 (3) 2,769 2,279 390 — (401 ) 5,037 2016 (4) 2,485 2,240 421 — (2,069 ) 3,077 Segment assets (5) 2018 $ 31,753 $ 15,458 $ 7,389 $ 6,377 $ (8,647 ) $ 52,330 2017 31,307 12,969 6,527 5,682 (7,933 ) 48,552 2016 20,798 11,407 6,104 5,390 2,260 45,959 (1) Includes TNT Express’s assets and immaterial financial results for 2016 from the time of acquisition (May 25, 2016). (2) Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million. (3) Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information. (4) Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million. (5) Segment assets include intercompany receivables. The following table provides a reconciliation of reportable segment capital expenditures to consolidated totals for the years ended May 31 (in millions): FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Other Consolidated Total 2018 $ 3,461 $ 1,178 $ 490 $ 477 $ 57 $ 5,663 2017 2,725 1,490 431 416 54 5,116 2016 2,350 1,556 428 432 52 4,818 The following table presents revenue by service type and geographic information for the years ended or as of May 31 (in millions): 2018 2017 2016 REVENUE BY SERVICE TYPE FedEx Express segment: Package: U.S. overnight box $ 7,273 $ 6,955 $ 6,763 U.S. overnight envelope 1,788 1,750 1,662 U.S. deferred 3,738 3,526 3,379 Total U.S. domestic package revenue 12,799 12,231 11,804 International priority 7,356 6,940 5,697 International economy 3,255 2,876 2,282 Total international export package revenue 10,611 9,816 7,979 International domestic (1) 4,587 4,227 1,285 Total package revenue 27,997 26,274 21,068 Freight: U.S. 2,797 2,527 2,481 International priority 2,179 1,910 999 International economy 1,916 1,740 385 International airfreight 368 355 126 Total freight revenue 7,260 6,532 3,991 Other 915 1,018 494 Total FedEx Express segment 36,172 33,824 25,553 FedEx Ground segment 18,395 16,503 15,051 FedEx Freight segment 6,812 6,070 5,825 FedEx Services segment 1,650 1,621 1,593 Other and eliminations (2) 2,421 2,301 2,343 $ 65,450 $ 60,319 $ 50,365 GEOGRAPHICAL INFORMATION (3) Revenues: U.S. $ 43,581 $ 40,269 $ 38,070 International: FedEx Express segment 20,417 18,817 11,083 FedEx Ground segment 407 331 275 FedEx Freight segment 181 149 137 FedEx Services segment 3 10 10 Other (2) 861 743 790 Total international revenue 21,869 20,050 12,295 $ 65,450 $ 60,319 $ 50,365 Noncurrent assets: U.S. $ 30,362 $ 28,141 $ 25,942 International 8,627 7,783 8,028 $ 38,989 $ 35,924 $ 33,970 (1) International domestic revenues relate to our intra-country operations. (2) Includes the FedEx Trade Networks operating segment and TNT Express’s revenue for 2016 from the time of acquisition (May 25, 2016). (3) International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	May 31, 2018
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	NOTE 15: SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest expense and income taxes for the years ended May 31 was as follows (in millions): 2018 2017 2016 Cash payments for: Interest (net of capitalized interest) $ 524 $ 484 $ 321 Income taxes $ 760 $ 397 $ 996 Income tax refunds received (571 ) (20 ) (5 ) Cash tax payments, net $ 189 $ 377 $ 991

Guarantees and Indemnifications

Guarantees and Indemnifications	12 Months Ended
	May 31, 2018
Guarantees And Indemnifications [Abstract]
Guarantees and Indemnifications	NOTE 16: GUARANTEES AND INDEMNIFICATIONS In conjunction with certain transactions, primarily the lease, sale or purchase of operating assets or services in the ordinary course of business and in connection with business acquisitions, we may provide routine guarantees or indemnifications (e.g., environmental, fuel, tax and software infringement), the terms of which range in duration, and often they are not limited and have no specified maximum obligation. As a result of the TNT Express acquisition, we have assumed a guarantee related to the demerger of TNT Express and PostNL Holding B.V., which occurred in 2011, for pension benefits earned prior to the date of the demerger. The risk of making payments associated with this guarantee is remote. The overall maximum potential amount of the obligation under such guarantees and indemnifications cannot be reasonably estimated. Historically, we have not been required to make significant payments under our guarantee or indemnification obligations and no material amounts have been recognized in our financial statements for the underlying fair value of these obligations.

Commitments

Commitments	12 Months Ended
	May 31, 2018
Commitments [Abstract]
Commitments	NOTE 17: COMMITMENTS Annual purchase commitments under various contracts as of May 31, 2018 were as follows (in millions): Aircraft and Aircraft Related Other (1) Total 2019 $ 1,534 $ 894 $ 2,428 2020 1,922 692 2,614 2021 1,255 416 1,671 2022 1,359 285 1,644 2023 628 185 813 Thereafter 2,653 491 3,144 Total $ 9,351 $ 2,963 $ 12,314 (1) Primarily equipment and advertising contracts. The amounts reflected in the table above for purchase commitments represent noncancelable agreements to purchase goods or services. As of May 31, 2018, our obligation to purchase four Boeing 767-300 Freighter (“B767F”) aircraft and three Boeing 777 Freighter (“B777F”) aircraft is conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the Railway Labor Act of 1926, as amended (“RLA”). Open purchase orders that are cancelable are not considered unconditional purchase obligations for financial reporting purposes and are not included in the table above. We have several aircraft modernization programs underway that are supported by the purchase of B777F and B767F aircraft. These aircraft are significantly more fuel-efficient per unit than the aircraft types previously utilized, and these expenditures are necessary to achieve significant long-term operating savings and to replace older aircraft. Our ability to delay the timing of these aircraft-related expenditures is limited without incurring significant costs to modify existing purchase agreements. During 2018, FedEx Express entered into an agreement to purchase 50 Cessna SkyCourier 408 aircraft with options to purchase up to 50 additional Cessna SkyCourier 408 aircraft. The 50 firm-order Cessna SkyCourier 408 aircraft are expected to be delivered from 2021 through 2024. During 2018, FedEx Express entered into an agreement to purchase 30 ATR 72-600F aircraft with options to purchase up to 20 additional ATR 72-600F aircraft. The 30 firm-order ATR 72-600F aircraft are expected to be delivered from 2021 through 2026. During 2018, FedEx Express entered into an agreement to accelerate the delivery of two B777F aircraft from 2021 to 2020, one B777F aircraft from 2021 to 2019, and one B777F aircraft from 2022 to 2020. On June 18, 2018, FedEx Express entered into agreements to purchase 12 incremental B777F aircraft and 12 incremental B767F aircraft. Six of the B777F and one of the B767F aircraft purchases are conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the RLA. The B777F aircraft are expected to be delivered between 2021 and 2025. The B767F aircraft are expected to be delivered between 2020 and 2022. As part of these agreements, one B777F and one B767F aircraft delivery were accelerated from 2020 to 2019. FedEx Express now has a total of 24 firm orders for B777F aircraft scheduled for delivery during 2019 through 2025 (one of which was delivered in June 2018) and a total of 69 firm orders for B767F aircraft for delivery during 2019 through 2023 (two of which were delivered in June 2018). Six of the B777F orders and five of the B767F orders are conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the RLA (the RLA condition was removed from three previously ordered B777F aircraft). FedEx Express also acquired options to purchase an additional 14 B777F aircraft, and the delivery dates of 11 existing B777F option aircraft were rescheduled. As a result, FedEx Express now has options to purchase a total of 25 B777F aircraft for delivery through 2028. FedEx Express also acquired options to purchase an additional six B767F aircraft. As a result, FedEx Express now has options to purchase a total of 50 B767F aircraft for delivery through 2026. As of May 31, 2018, we had $1.2 billion in deposits and progress payments on aircraft purchases and other planned aircraft-related transactions. These deposits are classified in the “Other assets” caption of our consolidated balance sheets. Aircraft and aircraft-related contracts are subject to price escalations. The following table is a summary of the key aircraft we are committed to purchase as of May 31, 2018, with the year of expected delivery: Cessna SkyCourier 408 ATR 72-600F B767F B777F Total 2019 - - 15 3 18 2020 - - 16 6 22 2021 12 5 10 - 27 2022 12 6 10 3 31 2023 12 6 6 - 24 Thereafter 14 13 - - 27 Total 50 30 57 12 149

Contingencies

Contingencies	12 Months Ended
	May 31, 2018
Loss Contingency [Abstract]
Contingencies	NOTE 18: CONTINGENCIES Independent Contractor — Lawsuits and Administrative Proceedings. FedEx Ground is involved in lawsuits and administrative proceedings claiming that owner-operators engaged under operating agreements no longer in place should have been treated as employees of FedEx Ground, rather than independent contractors. In addition, we are defending joint-employer cases where it is alleged that FedEx Ground should be treated as an employer of the drivers employed by owner-operators engaged by FedEx Ground. These cases are in varying stages of litigation, and we are not currently able to estimate an amount or range of potential loss in all of these matters. However, we do not expect to incur, individually or in the aggregate, a material loss in these matters. Nevertheless, adverse determinations in matters related to owner-operators engaged by FedEx Ground could, among other things, entitle certain owner-operators to the reimbursement of certain expenses, and their drivers to the benefit of wage-and-hour laws, and result in employment and withholding tax and benefit liability for FedEx Ground. We continue to believe that owner-operators engaged by FedEx Ground are properly classified as independent contractors and that FedEx Ground is not an employer or joint employer of the drivers of these independent contractors. City and State of New York Cigarette Suit. The City of New York and the State of New York filed two related lawsuits against FedEx Ground in December 2013 and November 2014 arising from FedEx Ground’s alleged shipments of cigarettes to New York residents in contravention of several statutes, including the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and New York’s Public Health Law, as well as common law nuisance claims. In April 2016, the two lawsuits were consolidated and will now proceed as one lawsuit. The first-filed lawsuit alleges that FedEx Ground provided delivery services on behalf of four shippers, and the second-filed lawsuit alleges that FedEx Ground provided delivery services on behalf of six additional shippers; none of these shippers continue to ship in our network. Following motions to dismiss filed in both lawsuits, some of the claims were dismissed entirely or limited. In the first-filed lawsuit, the New York Public Health Law and common law nuisance claims were dismissed and the plaintiffs voluntarily dismissed another claim. In the second-filed lawsuit, the common law nuisance claim was dismissed entirely and the New York Public Health Law claim has been limited to claims arising after September 27, 2013, when an amendment to that law provided enforcement authority to the City of New York and State of New York. Other claims, including the RICO claims, remain in both lawsuits. The likelihood of loss is reasonably possible, but the amount or range of loss, if any, cannot be estimated at this stage of the litigation. We expect the amount of any loss to be immaterial. On July 10, 2017, the City of New York and the State of New York filed a third lawsuit against FedEx Ground and included FedEx Freight as a co-defendant. This additional case identifies no shippers or shipments, but generally alleges violations of the same laws that are the subject of the other two lawsuits. The amount or range of loss, if any, cannot be estimated at this stage of the lawsuit. Other Matters. During the third quarter of 2017, FedEx Trade Networks informed U.S. Customs and Border Protection (“CBP”) that in connection with certain customs entries it may have made improper claims for (i) reduced-duty treatment and (ii) duty-free treatment. In the fourth quarter of 2017 we established accruals totaling $39.3 million for the then-current estimated probable loss for these matters. In the first quarter of 2018, FedEx Trade Networks tendered payments to CBP in these matters totaling $46.5 million, and an additional expense of $7.2 million was recognized. CBP acknowledged receipt of the amounts tendered in these matters. In May 2018, FedEx Trade Networks was informed that CBP is demanding additional payment for duty loss plus interest in connection with the claims for reduced-duty treatment. In June 2018, we submitted a response to CBP challenging the additional demand, and we are waiting for a reply. We have established an accrual for an immaterial amount in connection with this additional demand. We continue to await a response from CBP indicating whether the claims for duty-free treatment are fully resolved. FedEx and its subsidiaries are subject to other legal proceedings that arise in the ordinary course of business, including certain lawsuits containing various class-action allegations of wage-and-hour violations in which plaintiffs claim, among other things, that they were forced to work “off the clock,” were not paid overtime or were not provided work breaks or other benefits. In the opinion of management, the aggregate liability, if any, with respect to these other actions will not have a material adverse effect on our financial position, results of operations or cash flows.

Related Party Transactions

Related Party Transactions	12 Months Ended
	May 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 19: RELATED PARTY TRANSACTIONS Our Chairman and Chief Executive Officer, Frederick W. Smith, currently holds an approximate 10% ownership interest in the National Football League Washington Redskins professional football team and is a member of its board of directors. FedEx has a multi-year naming rights agreement with Washington Football, Inc. granting us certain marketing rights, including the right to name the stadium where the team plays and other events are held “FedExField.”

Summary of Quarterly Operating

Summary of Quarterly Operating Results (Unaudited)	12 Months Ended
	May 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Operating Results (Unaudited)	NOTE 20: SUMMARY OF QUARTERLY OPERATING RESULTS (UNAUDITED) (in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter 2018 (1) Revenues $ 15,297 $ 16,313 $ 16,526 $ 17,314 Operating income 1,117 1,262 1,001 1,490 Net income (2) 596 775 2,074 1,127 Basic earnings per common share (3) 2.22 2.89 7.74 4.23 Diluted earnings per common share (3) 2.19 2.84 7.59 4.15 2017 (4) Revenues $ 14,663 $ 14,931 $ 14,997 $ 15,728 Operating income (loss) 1,264 1,167 1,025 1,581 Net income (loss) 715 700 562 1,020 Basic earnings (loss) per common share (3) 2.69 2.63 2.11 3.81 Diluted earnings (loss) per common share (3) 2.65 2.59 2.07 3.75 (1) The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment. (2) The fourth quarter of 2018 includes a $255 million net tax benefit from corporate structuring transactions as part of the ongoing integration of FedEx Express and TNT Express. The fourth quarter, third quarter, and second quarter of 2018 include $133 million, $12 million, and $80 million, respectively, of tax benefits from foreign tax credits associated with distributions to the U.S. from foreign operations. The fourth quarter and third quarter of 2018 include $100 million and $165 million, respectively, of tax benefits related to a lower statutory income tax rate on fiscal 2018 earnings. In addition, the third quarter of 2018 includes the following TCJA-related items: a provisional benefit of $1.15 billion related to the remeasurement of our net U.S. deferred tax liability and a one-time benefit of $204 million from a $1.5 billion contribution to our U.S. Pension Plans. (3) The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective periods. (4) The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	12 Months Ended
	May 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	NOTE 21: CONDENSED CONSOLIDATING FINANCIAL STATEMENTS We are required to present condensed consolidating financial information in order for the subsidiary guarantors of our public debt to continue to be exempt from reporting under the Securities Exchange Act of 1934, as amended. The guarantor subsidiaries, which are 100% owned by FedEx, guarantee $16.4 billion of our public debt. The guarantees are full and unconditional and joint and several. Our guarantor subsidiaries were not determined using geographic, service line or other similar criteria, and as a result, the “Guarantor Subsidiaries” and “Non-guarantor Subsidiaries” columns each include portions of our domestic and international operations. Accordingly, this basis of presentation is not intended to present our financial condition, results of operations or cash flows for any purpose other than to comply with the specific requirements for subsidiary guarantor reporting. Condensed consolidating financial statements for our guarantor subsidiaries and non-guarantor subsidiaries are presented in the following tables (in millions): CONDENSED CONSOLIDATING BALANCE SHEETS May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,485 $ 257 $ 1,538 $ (15 ) $ 3,265 Receivables, less allowances 3 4,970 3,586 (78 ) 8,481 Spare parts, supplies, fuel, prepaid expenses and other, less allowances 425 878 292 — 1,595 Total current assets 1,913 6,105 5,416 (93 ) 13,341 PROPERTY AND EQUIPMENT, AT COST 21 51,232 3,868 — 55,121 Less accumulated depreciation and amortization 17 25,111 1,839 — 26,967 Net property and equipment 4 26,121 2,029 — 28,154 INTERCOMPANY RECEIVABLE 1,487 924 — (2,411 ) — GOODWILL — 1,709 5,264 — 6,973 INVESTMENT IN SUBSIDIARIES 33,370 4,082 — (37,452 ) — OTHER ASSETS 75 1,854 1,829 104 3,862 $ 36,849 $ 40,795 $ 14,538 $ (39,852 ) $ 52,330 LIABILITIES AND STOCKHOLDERS’ INVESTMENT CURRENT LIABILITIES Current portion of long-term debt $ 1,332 $ 1 $ 9 $ — $ 1,342 Accrued salaries and employee benefits 65 1,506 606 — 2,177 Accounts payable 16 1,332 1,719 (90 ) 2,977 Accrued expenses 460 1,778 896 (3 ) 3,131 Total current liabilities 1,873 4,617 3,230 (93 ) 9,627 LONG-TERM DEBT, LESS CURRENT PORTION 14,942 288 13 — 15,243 INTERCOMPANY PAYABLE — — 2,411 (2,411 ) — OTHER LONG-TERM LIABILITIES Deferred income taxes — 2,626 137 104 2,867 Other liabilities 619 3,432 1,126 — 5,177 Total other long-term liabilities 619 6,058 1,263 104 8,044 STOCKHOLDERS’ INVESTMENT 19,415 29,832 7,621 (37,452 ) 19,416 $ 36,849 $ 40,795 $ 14,538 $ (39,852 ) $ 52,330 CONDENSED CONSOLIDATING BALANCE SHEETS May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,884 $ 325 $ 1,807 $ (47 ) $ 3,969 Receivables, less allowances 3 4,729 2,928 (61 ) 7,599 Spare parts, supplies, fuel, prepaid expenses and other, less allowances 25 787 248 — 1,060 Total current assets 1,912 5,841 4,983 (108 ) 12,628 PROPERTY AND EQUIPMENT, AT COST 22 47,201 3,403 — 50,626 Less accumulated depreciation and amortization 18 23,211 1,416 — 24,645 Net property and equipment 4 23,990 1,987 — 25,981 INTERCOMPANY RECEIVABLE 1,521 2,607 — (4,128 ) — GOODWILL — 1,571 5,583 — 7,154 INVESTMENT IN SUBSIDIARIES 27,712 2,636 — (30,348 ) — OTHER ASSETS 3,494 1,271 1,249 (3,225 ) 2,789 $ 34,643 $ 37,916 $ 13,802 $ (37,809 ) $ 48,552 LIABILITIES AND STOCKHOLDERS’ INVESTMENT CURRENT LIABILITIES Current portion of long-term debt $ — $ 9 $ 13 $ — $ 22 Accrued salaries and employee benefits 72 1,335 507 — 1,914 Accounts payable 10 1,411 1,439 (108 ) 2,752 Accrued expenses 991 1,522 717 — 3,230 Total current liabilities 1,073 4,277 2,676 (108 ) 7,918 LONG-TERM DEBT, LESS CURRENT PORTION 14,641 244 24 — 14,909 INTERCOMPANY PAYABLE — — 4,128 (4,128 ) — OTHER LONG-TERM LIABILITIES Deferred income taxes — 5,472 238 (3,225 ) 2,485 Other liabilities 2,856 3,448 863 — 7,167 Total other long-term liabilities 2,856 8,920 1,101 (3,225 ) 9,652 STOCKHOLDERS’ INVESTMENT 16,073 24,475 5,873 (30,348 ) 16,073 $ 34,643 $ 37,916 $ 13,802 $ (37,809 ) $ 48,552 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 48,601 $ 17,256 $ (407 ) $ 65,450 OPERATING EXPENSES: Salaries and employee benefits 149 17,814 5,244 — 23,207 Purchased transportation — 9,134 6,191 (224 ) 15,101 Rentals and landing fees 5 2,587 776 (7 ) 3,361 Depreciation and amortization 1 2,644 450 — 3,095 Fuel — 3,077 297 — 3,374 Maintenance and repairs 1 2,294 327 — 2,622 Goodwill and other asset impairment charges — — 380 — 380 Retirement plans mark-to-market adjustment — 19 (29 ) — (10 ) Intercompany charges, net (437 ) (120 ) 557 — — Other 281 6,227 3,118 (176 ) 9,450 — 43,676 17,311 (407 ) 60,580 OPERATING INCOME — 4,925 (55 ) — 4,870 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 4,572 62 — (4,634 ) — Interest, net (541 ) 46 (15 ) — (510 ) Intercompany charges, net 544 (291 ) (253 ) — — Other, net (3 ) (120 ) 116 — (7 ) INCOME BEFORE INCOME TAXES 4,572 4,622 (207 ) (4,634 ) 4,353 Provision for income taxes (benefit) — 309 (528 ) — (219 ) NET INCOME $ 4,572 $ 4,313 $ 321 $ (4,634 ) $ 4,572 COMPREHENSIVE INCOME $ 4,489 $ 4,263 $ 291 $ (4,634 ) $ 4,409 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 44,823 $ 15,798 $ (302 ) $ 60,319 OPERATING EXPENSES: Salaries and employee benefits 123 16,696 4,723 — 21,542 Purchased transportation — 8,260 5,495 (125 ) 13,630 Rentals and landing fees 5 2,517 724 (6 ) 3,240 Depreciation and amortization 1 2,538 456 — 2,995 Fuel — 2,476 297 — 2,773 Maintenance and repairs 1 2,086 287 — 2,374 Retirement plans mark-to-market adjustment — (75 ) 51 — (24 ) Intercompany charges, net (434 ) 182 252 — — Other 304 5,734 2,885 (171 ) 8,752 — 40,414 15,170 (302 ) 55,282 OPERATING INCOME — 4,409 628 — 5,037 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 2,997 68 — (3,065 ) — Interest, net (507 ) 27 1 — (479 ) Intercompany charges, net 508 (296 ) (212 ) — — Other, net (1 ) (134 ) 156 — 21 INCOME BEFORE INCOME TAXES 2,997 4,074 573 (3,065 ) 4,579 Provision for income taxes — 1,439 143 — 1,582 NET INCOME $ 2,997 $ 2,635 $ 430 $ (3,065 ) $ 2,997 COMPREHENSIVE INCOME $ 2,922 $ 2,580 $ 314 $ (3,065 ) $ 2,751 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2016 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 42,143 $ 8,547 $ (325 ) $ 50,365 OPERATING EXPENSES: Salaries and employee benefits 119 15,880 2,582 — 18,581 Purchased transportation — 7,380 2,720 (134 ) 9,966 Rentals and landing fees 5 2,484 371 (6 ) 2,854 Depreciation and amortization 1 2,399 231 — 2,631 Fuel — 2,324 75 — 2,399 Maintenance and repairs 1 1,954 153 — 2,108 Retirement plans mark-to-market adjustment — 1,414 84 — 1,498 Intercompany charges, net (645 ) 425 220 — — Other 519 5,274 1,643 (185 ) 7,251 — 39,534 8,079 (325 ) 47,288 OPERATING INCOME — 2,609 468 — 3,077 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 1,820 279 — (2,099 ) — Interest, net (355 ) 27 13 — (315 ) Intercompany charges, net 369 (354 ) (15 ) — — Other, net (14 ) (14 ) 6 — (22 ) INCOME BEFORE INCOME TAXES 1,820 2,547 472 (2,099 ) 2,740 Provision for income taxes — 818 102 — 920 NET INCOME $ 1,820 $ 1,729 $ 370 $ (2,099 ) $ 1,820 COMPREHENSIVE INCOME $ 1,746 $ 1,704 $ 128 $ (2,099 ) $ 1,479 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (2,837 ) $ 6,767 $ 712 $ 32 $ 4,674 INVESTING ACTIVITIES Capital expenditures (1 ) (5,299 ) (363 ) — (5,663 ) Business acquisitions, net of cash acquired — (44 ) (135 ) — (179 ) Proceeds from sale of business — — 123 — 123 Proceeds from asset dispositions and other (6 ) 33 15 — 42 CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (7 ) (5,310 ) (360 ) — (5,677 ) FINANCING ACTIVITIES Net transfers from (to) Parent 1,529 (1,612 ) 83 — — Payment on loan between subsidiaries 663 — (663 ) — — Intercompany dividends — 98 (98 ) — — Principal payments on debt — (22 ) (16 ) — (38 ) Proceeds from debt issuance 1,480 — — — 1,480 Proceeds from stock issuances 327 — — — 327 Dividends paid (535 ) — — — (535 ) Purchase of treasury stock (1,017 ) — — — (1,017 ) Other, net 3 7 — — 10 CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,450 (1,529 ) (694 ) — 227 Effect of exchange rate changes on cash (5 ) 4 73 — 72 Net increase (decrease) in cash and cash equivalents (399 ) (68 ) (269 ) 32 (704 ) Cash and cash equivalents at beginning of period 1,884 325 1,807 (47 ) 3,969 Cash and cash equivalents at end of period $ 1,485 $ 257 $ 1,538 $ (15 ) $ 3,265 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (1,155 ) $ 5,254 $ 835 $ (4 ) $ 4,930 INVESTING ACTIVITIES Capital expenditures — (4,694 ) (422 ) — (5,116 ) Proceeds from asset dispositions and other 34 25 76 — 135 CASH USED IN INVESTING ACTIVITIES 34 (4,669 ) (346 ) — (4,981 ) FINANCING ACTIVITIES Net transfers from (to) Parent 421 (518 ) 97 — — Payment on loan between subsidiaries 41 (15 ) (26 ) — — Intercompany dividends — 1 (1 ) — — Principal payments on debt — (55 ) (27 ) — (82 ) Proceeds from debt issuances 1,190 — — — 1,190 Proceeds from stock issuances 337 — — — 337 Dividends paid (426 ) — — — (426 ) Purchase of treasury stock (509 ) — — — (509 ) Other, net (12 ) (13 ) 43 — 18 CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,042 (600 ) 86 — 528 Effect of exchange rate changes on cash (11 ) 14 (45 ) — (42 ) Net (decrease) increase in cash and cash equivalents (90 ) (1 ) 530 (4 ) 435 Cash and cash equivalents at beginning of period 1,974 326 1,277 (43 ) 3,534 Cash and cash equivalents at end of period $ 1,884 $ 325 $ 1,807 $ (47 ) $ 3,969 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2016 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (831 ) $ 5,932 $ 572 $ 35 $ 5,708 INVESTING ACTIVITIES Capital expenditures — (4,617 ) (201 ) — (4,818 ) Business acquisitions, net of cash acquired — — (4,618 ) — (4,618 ) Proceeds from asset dispositions and other (55 ) 33 12 — (10 ) CASH USED IN INVESTING ACTIVITIES (55 ) (4,584 ) (4,807 ) — (9,446 ) FINANCING ACTIVITIES Net transfers from (to) Parent 1,629 (1,549 ) (80 ) — — Payment on loan between subsidiaries (4,805 ) 109 4,696 — — Intercompany dividends — 20 (20 ) — — Principal payments on debt — (19 ) (22 ) — (41 ) Proceeds from debt issuance 6,519 — — — 6,519 Proceeds from stock issuances 183 — — — 183 Dividends paid (277 ) — — — (277 ) Purchase of treasury stock (2,722 ) — — — (2,722 ) Other, net (51 ) (48 ) 48 — (51 ) CASH PROVIDED (USED IN) FINANCING ACTIVITIES 476 (1,487 ) 4,622 — 3,611 Effect of exchange rate changes on cash 1 (22 ) (81 ) — (102 ) Net increase in cash and cash equivalents (409 ) (161 ) 306 35 (229 ) Cash and cash equivalents at beginning of period 2,383 487 971 (78 ) 3,763 Cash and cash equivalents at end of period $ 1,974 $ 326 $ 1,277 $ (43 ) $ 3,534

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	May 31, 2018
Valuation And Qualifying Accounts [Abstract]
Schedule Of Valuation And Qualifying Accounts	SCHEDULE II FEDEX CORPORATION VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED MAY 31, 2018, 2017 AND 2016 (IN MILLIONS) ADDITIONS DESCRIPTION BALANCE AT BEGINNING OF YEAR CHARGED TO EXPENSES CHARGED TO OTHER ACCOUNTS DEDUCTIONS BALANCE AT END OF YEAR Accounts Receivable Reserves: Allowance for Doubtful Accounts 2018 $ 115 $ 246 $ — $ 162 (a) $ 199 2017 73 136 — 94 (a) 115 2016 86 121 — 134 (a) 73 Allowance for Revenue Adjustments 2018 $ 137 $ — $ 1,173 (b) $ 1,108 (c) $ 202 2017 105 — 941 (b) 909 (c) 137 2016 99 — 692 (b) 686 (c) 105 Inventory Valuation Allowance: 2018 $ 237 $ 27 $ 6 $ 2 $ 268 2017 218 26 — 7 237 2016 207 26 — 15 218 (a) Uncollectible accounts written off, net of recoveries, and other adjustments. (b) Principally charged against revenue. (c) Service failures, rebills and other.

Description of Business and S32

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	May 31, 2018
Accounting Policies [Abstract]
Description of Business	DESCRIPTION OF BUSINESS. FedEx Corporation (“FedEx”) provides a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the respected FedEx brand. Our primary operating companies are Federal Express Corporation (“FedEx Express”), the world’s largest express transportation company; FedEx Ground Package System, Inc. (“FedEx Ground”), a leading North American provider of small-package ground delivery services; and FedEx Freight Corporation (“FedEx Freight”), a leading U.S. provider of less-than-truckload (“LTL”) freight transportation. These companies represent our major service lines and, along with FedEx Corporate Services, Inc. (“FedEx Services”), constitute our reportable segments. Our FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support our transportation segments (FedEx Express, FedEx Ground and FedEx Freight). In addition, the FedEx Services segment provides customers with retail access to FedEx Express and FedEx Ground shipping services through FedEx Office and Print Services, Inc. (“FedEx Office”).
Fiscal Years	FISCAL YEARS . Except as otherwise specified, references to years indicate our fiscal year ended May 31, 2018 or ended May 31 of the year referenced.
Reclassifications	RECLASSIFICATIONS. Certain reclassifications have been made to the prior years’ segment financial information to conform to the current year’s presentation. See Note 14 below for additional information regarding business segments.
Principles of Consolidation	PRINCIPLES OF CONSOLIDATION . The consolidated financial statements include the accounts of FedEx and its subsidiaries, substantially all of which are wholly owned. All significant intercompany accounts and transactions have been eliminated in consolidation. We are not the primary beneficiary of, nor do we have a controlling financial interest in, any variable interest entity. Accordingly, we have not consolidated any variable interest entity.
Revenue Recognition	REVENUE RECOGNITION . We recognize revenue upon delivery of shipments for our transportation businesses and upon completion of services for our business services, logistics and trade services businesses. Transportation services are provided with the use of employees and agents such as independent contractors. FedEx is the principal to the transaction for most of these services and revenue from these transactions is recognized on a gross basis. Costs associated with agents are recognized as incurred and included in the caption “Purchased transportation” in the accompanying consolidated statements of income. For shipments in transit, revenue is recorded based on the percentage of service completed at the balance sheet date. Estimates for future billing adjustments to revenue and accounts receivable are recognized at the time of shipment for money-back service guarantees and billing corrections. Delivery costs are accrued as incurred. Our contract logistics, global trade services and certain transportation businesses engage in some transactions wherein they act as agents. Revenue from these transactions is recorded on a net basis. Net revenue includes billings to customers less third-party charges, including transportation or handling costs, fees, commissions and taxes and duties. Certain of our revenue-producing transactions are subject to taxes, such as sales tax, assessed by governmental authorities. We present these revenues net of tax.
Credit Risk	CREDIT RISK. We routinely grant credit to many of our customers for transportation and business services without collateral. The risk of credit loss in our trade receivables is substantially mitigated by our credit evaluation process, short collection terms and sales to a large number of customers, as well as the low revenue per transaction for most of our services. Allowances for potential credit losses are determined based on historical experience and the impact of current economic factors on the composition of accounts receivable. Historically, credit losses have been within management’s expectations.
Advertising	ADVERTISING. Advertising and promotion costs are expensed as incurred and are classified in other operating expenses. Advertising and promotion expenses were $442 million in 2018, $458 million in 2017 and $417 million in 2016.
Cash Equivalents	CASH EQUIVALENTS. Cash in excess of current operating requirements is invested in short-term, interest-bearing instruments with maturities of three months or less at the date of purchase and is stated at cost, which approximates market value.
Spare Parts, Supplies And Fuel	SPARE PARTS, SUPPLIES AND FUEL. Spare parts (principally aircraft-related) are reported at weighted-average cost. Allowances for obsolescence are provided for spare parts currently identified as excess or obsolete as well as expected to be on hand at the date the aircraft are retired from service. These allowances are provided over the estimated useful life of the related aircraft and engines. The majority of our supplies and fuel are reported at weighted-average cost.
Property And Equipment	PROPERTY AND EQUIPMENT . Expenditures for major additions, improvements and flight equipment modifications are capitalized when such costs are determined to extend the useful life of the asset or are part of the cost of acquiring the asset. Expenditures for equipment overhaul costs of engines or airframes prior to their operational use are capitalized as part of the cost of such assets as they are costs required to ready the asset for its intended use. Maintenance and repairs costs are charged to expense as incurred, except for certain aircraft engine maintenance costs incurred under third-party service agreements. These agreements result in costs being expensed based on cycles or hours flown and are subject to annual escalation. These service contracts transfer risk to third-party service providers and generally fix the amount we pay for maintenance to the service provider as a rate per cycle or flight hour, in exchange for maintenance and repairs under a predefined maintenance program. We capitalize certain direct internal and external costs associated with the development of internal-use software. Gains and losses on sales of property used in operations are classified within operating expenses and historically have been nominal. For financial reporting purposes, we record depreciation and amortization of property and equipment on a straight-line basis over the asset’s service life or related lease term, if shorter. For income tax purposes, depreciation is computed using accelerated methods when applicable. The depreciable lives and net book value of our property and equipment are as follows (dollars in millions): Net Book Value at May 31, Range 2018 2017 Wide-body aircraft and related equipment 15 to 30 years $ 10,463 $ 9,103 Narrow-body and feeder aircraft and related equipment 5 to 18 years 2,908 3,099 Package handling and ground support equipment 3 to 30 years 4,028 3,862 Information technology 2 to 10 years 1,277 1,114 Vehicles 3 to 15 years 3,747 3,400 Facilities and other 2 to 40 years 5,731 5,403 Substantially all property and equipment have no material residual values. The majority of aircraft costs are depreciated on a straight-line basis over 15 to 30 years. We periodically evaluate the estimated service lives and residual values used to depreciate our property and equipment. Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations, was $3.1 billion in 2018, $2.9 billion in 2017 and $2.6 billion in 2016. Depreciation and amortization expense includes amortization of assets under capital lease.
Capitalized Interest	CAPITALIZED INTEREST . Interest on funds used to finance the acquisition and modification of aircraft, including purchase deposits, construction of certain facilities, and development of certain software up to the date the asset is ready for its intended use, is capitalized and included in the cost of the asset if the asset is actively under construction. Capitalized interest was $61 million in 2018, $41 million in 2017 and $42 million in 2016.
Impairment of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS. Long-lived assets are reviewed for impairment when circumstances indicate the carrying value of an asset may not be recoverable. For assets that are to be held and used, an impairment is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value. We operate integrated transportation networks, and accordingly, cash flows for most of our operating assets to be held and used are assessed at a network level, not at an individual asset level, for our analysis of impairment. In the normal management of our aircraft fleet, we routinely idle aircraft and engines temporarily due to maintenance cycles and adjustments of our network capacity to match seasonality and overall customer demand levels. Temporarily idled assets are classified as available-for-use, and we continue to record depreciation expense associated with these assets. These temporarily idled assets are assessed for impairment on a quarterly basis. The criteria for determining whether an asset has been permanently removed from service (and, as a result, is potentially impaired) include, but are not limited to, our global economic outlook and the impact of our outlook on our current and projected volume levels, including capacity needs during our peak shipping seasons; the introduction of new fleet types or decisions to permanently retire an aircraft fleet from operations; and changes to planned service expansion activities. At May 31, 2018, we had five aircraft temporarily idled. These aircraft have been idled for an average of 20 months and are expected to return to revenue service.
Sale of Business	SALE OF BUSINESS. On April 30, 2018, we sold a non-core business of TNT Express B.V. (“TNT Express”) and recorded a gain of $85 million in the FedEx Express segment.
Goodwill and Intangible Assets	GOODWILL. Goodwill is recognized for the excess of the purchase price over the fair value of tangible and identifiable intangible net assets of businesses acquired. Several factors give rise to goodwill in our acquisitions, such as the expected benefits from synergies of the combination and the existing workforce of the acquired business. Goodwill is reviewed at least annually for impairment. In our evaluation of goodwill impairment, we perform a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment is not conclusive, we proceed to test goodwill for impairment, including comparing the fair value of the reporting unit to its carrying value (including attributable goodwill). Fair value for our reporting units is determined using an income or market approach incorporating market participant considerations and management’s assumptions on revenue growth rates, operating margins, discount rates and expected capital expenditures. Fair value determinations may include both internal and third-party valuations. Unless circumstances otherwise dictate, we perform our annual impairment testing in the fourth quarter. INTANGIBLE ASSETS . Intangible assets primarily include customer relationships, technology assets and trademarks acquired in business combinations. Intangible assets are amortized over periods ranging from 3 to 15 years, either on a straight-line basis or on a basis consistent with the pattern in which the economic benefits are realized.
Pension and Postretirement Healthcare Plans	PENSION AND POSTRETIREMENT HEALTHCARE PLANS. Our defined benefit pension and other postretirement benefit plans are measured using actuarial techniques that reflect management’s assumptions for discount rate, investment returns on plan assets, salary increases, expected retirement, mortality, employee turnover and future increases in healthcare costs. We determine the discount rate (which is required to be the rate at which the projected benefit obligation (“PBO”) could be effectively settled as of the measurement date) with the assistance of actuaries, who calculate the yield on a theoretical portfolio of high-grade corporate bonds (rated Aa or better) with cash flows that are designed to match our expected benefit payments in future years. We use the fair value of plan assets to calculate the expected return on assets (“EROA”) for interim and segment reporting purposes. Our EROA is a judgmental matter which is reviewed on an annual basis and revised as appropriate. The accounting guidance related to employers’ accounting for defined benefit pension and other postretirement plans requires recognition in the balance sheet of the funded status of these plans. We use “mark-to-market” or MTM accounting and immediately recognize changes in the fair value of plan assets and actuarial gains or losses in our operating results annually in the fourth quarter each year. The annual MTM adjustment is recognized at the corporate level and does not impact segment results. The remaining components of pension and postretirement healthcare expense, primarily service and interest costs and the EROA, are recorded on a quarterly basis.
Income Taxes	INCOME TAXES. Deferred income taxes are provided for the tax effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The liability method is used to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to be in effect when the taxes are paid. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. Such assets arise because of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as from net operating loss and tax credit carryforwards. We evaluate the recoverability of these future tax deductions and credits by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely heavily on estimates to make this determination and, thus, there is a risk that these estimates will have to be revised as new information is received. To the extent we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is established. We believe we will generate sufficient future taxable income to realize the tax benefits related to the remaining net deferred tax assets in our consolidated balance sheet that are not subject to valuation allowances. We recognize liabilities for uncertain income tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires us to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as we must determine the probability of various possible outcomes. We reevaluate these uncertain tax positions on a quarterly basis or when new information becomes available to management. These reevaluations are based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, successfully settled issues under audit and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an increase to the related provision. We classify interest related to income tax liabilities as interest expense, and if applicable, penalties are recognized as a component of income tax expense. The income tax liabilities and accrued interest and penalties that are due within one year of the balance sheet date are presented as current liabilities. The noncurrent portion of our income tax liabilities and accrued interest and penalties are recorded in the caption “Other liabilities” in the accompanying consolidated balance sheets.
Self-Insurance Accruals	SELF-INSURANCE ACCRUALS. We are self-insured for costs associated with workers’ compensation claims, vehicle accidents and general business liabilities, and benefits paid under employee healthcare and disability programs. Accruals are primarily based on the actuarially estimated cost of claims, which includes incurred-but-not-reported claims. Current workers’ compensation claims, vehicle and general liability, employee healthcare claims and long-term disability are included in accrued expenses. We self-insure up to certain limits that vary by operating company and type of risk. Periodically, we evaluate the level of insurance coverage and adjust insurance levels based on risk tolerance and premium expense.
Leases	LEASES. We lease certain aircraft, facilities, equipment and vehicles under capital and operating leases. The commencement date of all leases is the earlier of the date we become legally obligated to make rent payments or the date we may exercise control over the use of the property. In addition to minimum rental payments, certain leases provide for contingent rentals based on equipment usage, principally related to aircraft leases at FedEx Express and copier usage at FedEx Office. Rent expense associated with contingent rentals is recorded as incurred. Certain of our leases contain fluctuating or escalating payments and rent holiday periods. The related rent expense is recorded on a straight-line basis over the lease term. The cumulative excess of rent payments over rent expense is accounted for as a deferred lease asset and recorded in “Other assets” in the accompanying consolidated balance sheets. The cumulative excess of rent expense over rent payments is accounted for as a deferred lease obligation. Leasehold improvements associated with assets utilized under capital or operating leases are amortized over the shorter of the asset’s useful life or the lease term.
Deferred Gains	DEFERRED GAINS. Gains on the sale and leaseback of aircraft and other property and equipment are deferred and amortized ratably over the life of the lease as a reduction of rent expense. Substantially all of these deferred gains are related to aircraft transactions.
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS. Our risk management strategy includes the select use of derivative instruments to reduce the effects of volatility in foreign currency exchange exposure on operating results and cash flows. In accordance with our risk management policies, we do not hold or issue derivative instruments for trading or speculative purposes. All derivative instruments are recognized in the financial statements at fair value, regardless of the purpose or intent for holding them. When we become a party to a derivative instrument and intend to apply hedge accounting, we formally document the hedge relationship and the risk management objective for undertaking the hedge, which includes designating the instrument for financial reporting purposes as a fair value hedge, a cash flow hedge, or a net investment hedge. If a derivative is designated as a cash flow or net investment hedge, changes in its fair value are considered to be effective and are recorded in accumulated other comprehensive income (“AOCI”) until the hedged item is recorded in income. Any portion of a change in the fair value of a derivative that is considered to be ineffective, along with the change in fair value of any derivatives not designated in a hedging relationship, is immediately recognized in the income statement. We do not have any derivatives designated as a cash flow or net investment hedge as of May 31, 2018, 2017 and 2016. Accordingly, additional disclosures about these types of financial instruments are excluded from this report. For derivative instruments designated as hedges, we assess, both at hedge inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of the hedged items. In addition, when we determine that a derivative is not highly effective as a hedge, hedge accounting is discontinued. When a hedging instrument expires or is sold, or when the hedge no longer meets the criteria for hedge accounting, any cumulative gains or losses existing in AOCI at that time remain there until the forecasted transaction is ultimately recognized in the income statement. When a forecasted transaction is no longer expected to occur, the cumulative gains or losses that were reported in AOCI are immediately recognized in the income statement. The financial statement impact of derivative transactions was immaterial for the years ended May 31, 2018, 2017 and 2016. Accordingly, additional disclosures have been excluded from this report.
Foreign Currency Translation	FOREIGN CURRENCY TRANSLATION. Translation gains and losses of foreign operations that use local currencies as the functional currency are accumulated and reported, net of applicable deferred income taxes, as a component of AOCI within common stockholders’ investment. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local currency are included in the caption “Other, net” in the accompanying consolidated statements of income and were immaterial for each period presented.
Employees Under Collective Bargaining Arrangements	EMPLOYEES UNDER COLLECTIVE BARGAINING ARRANGEMENTS. The pilots of FedEx Express, who are a small number of its total employees, are employed under a collective bargaining agreement that took effect on November 2, 2015. The collective bargaining agreement is scheduled to become amendable in November 2021. Other than the pilots at FedEx Express and drivers at one FedEx Freight facility, our U.S. employees have thus far chosen not to unionize (we acquired FedEx Supply Chain Distribution System, Inc. (“FedEx Supply Chain,” formerly GENCO Distribution System, Inc.) in 2015, which already had a small number of employees that are members of unions). Additionally, certain of FedEx Express’s non-U.S. employees are unionized.
Stock-Based Compensation	STOCK-BASED COMPENSATION. We recognize compensation expense for stock-based awards under the provisions of the accounting guidance related to share-based payments. This guidance requires recognition of compensation expense for stock-based awards using a fair value method. We issue new shares or treasury shares from stock repurchases to cover employee stock option exercises and restricted stock grants.
Treasury Shares	TREASURY SHARES. In January 2016, our Board of Directors authorized a share repurchase program of up to 25 million shares. During 2018, we repurchased 4.3 million shares of FedEx common stock at an average price of $237.45 per share for a total of $1.0 billion. As of May 31, 2018, 12 million shares remained under the share repurchase authorization. Shares under the current repurchase program may be repurchased from time to time in the open market or in privately negotiated transactions. The timing and volume of repurchases are at the discretion of management, based on the capital needs of the business, the market price of FedEx common stock and general market conditions. No time limit was set for the completion of the program, and the program may be suspended or discontinued at any time. In 2017, we repurchased 3.0 million shares of FedEx common stock at an average price of $172.13 per share for a total of $509 million. In 2016, we repurchased 18.2 million shares of FedEx common stock at an average price of $149.35 per share for a total of $2.7 billion.
Dividends Declared per Common Share	DIVIDENDS DECLARED PER COMMON SHARE. On June 11, 2018, our Board of Directors declared a quarterly dividend of $0.65 per share of common stock. The dividend was paid on July 9, 2018 to stockholders of record as of the close of business on June 25, 2018. Each quarterly dividend payment is subject to review and approval by our Board of Directors, and we evaluate our dividend payment amount on an annual basis at the end of each fiscal year.
Use Of Estimates	USE OF ESTIMATES . The preparation of our consolidated financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent liabilities. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Areas where the nature of the estimate makes it reasonably possible that actual results could materially differ from amounts estimated include: self-insurance accruals; retirement plan obligations; long-term incentive accruals; tax liabilities; loss contingencies; litigation claims; impairment assessments on long-lived assets (including goodwill); and purchase price allocations.

Description of Business and S33

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	May 31, 2018
Accounting Policies [Abstract]
Schedule of Depreciable Lives and Net Book Value of Property and Equipment	The depreciable lives and net book value of our property and equipment are as follows (dollars in millions): Net Book Value at May 31, Range 2018 2017 Wide-body aircraft and related equipment 15 to 30 years $ 10,463 $ 9,103 Narrow-body and feeder aircraft and related equipment 5 to 18 years 2,908 3,099 Package handling and ground support equipment 3 to 30 years 4,028 3,862 Information technology 2 to 10 years 1,277 1,114 Vehicles 3 to 15 years 3,747 3,400 Facilities and other 2 to 40 years 5,731 5,403

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	May 31, 2018
Acquisition Tables [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the final amounts of the fair values recognized for the assets acquired and liabilities assumed for this acquisition, as well as adjustments made during the measurement period (in millions): Preliminary Measurement Period Final May 31, 2016 Adjustments May 31, 2017 Current assets (1) $ 1,905 $ (53 ) $ 1,852 Property and equipment 1,104 (124 ) 980 Goodwill 2,964 488 3,452 Identifiable intangible assets 920 (390 ) 530 Other non-current assets 289 183 472 Current liabilities (2) (1,644 ) (44 ) (1,688 ) Long-term liabilities (644 ) (60 ) (704 ) Total purchase price $ 4,894 $ — $ 4,894 (1) Primarily accounts receivable and cash. (2) Primarily accounts payable and accrued expenses.
Schedule of Intangible Assets with Finite Lives	The purchase price was allocated to the identifiable intangible assets acquired as follows (in millions): Intangible assets with finite lives Customer relationships (12-year life) $ 430 Technology (3-year life) 20 Trademarks (4-year life) 80 Total intangible assets $ 530
Business Acquisition Pro Forma Financial Information	The following unaudited pro forma consolidated financial information presents the combined operations of FedEx and TNT Express as if the acquisition had occurred at the beginning of 2015 (dollars in millions, except per share amounts): (Unaudited) 2016 2015 Consolidated revenues $ 57,899 $ 55,862 Consolidated net income 1,600 638 Diluted earnings per share $ 5.73 $ 2.22

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	May 31, 2018
Goodwill And Other Intangible Assets Tables [Abstract]
Schedule Of Goodwill	The carrying amount of goodwill attributable to each reportable operating segment and changes therein are as follows (in millions): FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Corporate, Other and Eliminations Total Goodwill at May 31, 2016 $ 4,546 $ 827 $ 764 $ 1,525 $ 395 $ 8,057 Accumulated impairment charges — — (133 ) (1,177 ) — (1,310 ) Balance as of May 31, 2016 4,546 827 631 348 395 6,747 Purchase adjustments and other (1) 407 — — — — 407 Balance as of May 31, 2017 4,953 827 631 348 395 7,154 Goodwill acquired (2) 76 14 3 — 32 125 Purchase adjustments and other (1) 71 (1 ) — — (2 ) 68 Impairment charges (3) — — — — (374 ) (374 ) Balance as of May 31, 2018 $ 5,100 $ 840 $ 634 $ 348 $ 51 $ 6,973 Accumulated goodwill impairment charges as of May 31, 2018 $ — $ — $ (133 ) $ (1,177 ) $ (374 ) $ (1,684 ) (1) Primarily purchase-related adjustments, currency translation adjustments, and acquired goodwill related to immaterial acquisitions. (2) Goodwill acquired relates to the acquisitions of Northwest Research, Inc. and P2P Mailing Limited. See Note 3 for more information. (3) Impairment charges related to the goodwill impairment of FedEx Supply Chain described below.
Schedule Of Identifiable Intangible Assets	The summary of our intangible assets and related accumulated amortization at May 31, 2018 and 2017 is as follows (in millions): 2018 2017 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 676 $ (250 ) $ 426 $ 656 $ (203 ) $ 453 Technology 68 (39 ) 29 54 (26 ) 28 Trademarks and other 141 (116 ) 25 136 (88 ) 48 Total $ 885 $ (405 ) $ 480 $ 846 $ (317 ) $ 529
Schedule of Finite Lived Intangible Assets Future Amortization Expense	Expected amortization expense for the next five years is as follows (in millions): 2019 $ 81 2020 63 2021 50 2022 44 2023 42

Selected Current Liabilities (T

Selected Current Liabilities (Tables)	12 Months Ended
	May 31, 2018
Selected Current Liabilities Tables [Abstract]
Selected Current Liabilities	The components of selected current liability captions at May 31 were as follows (in millions): 2018 2017 Accrued Salaries and Employee Benefits Salaries $ 498 $ 431 Employee benefits, including variable compensation 933 781 Compensated absences 746 702 $ 2,177 $ 1,914 Accrued Expenses Self-insurance accruals $ 957 $ 976 Taxes other than income taxes 334 283 Other 1,840 1,971 $ 3,131 $ 3,230

Long Term Debt and Other Financ

Long Term Debt and Other Financing Arrangements (Tables)	12 Months Ended
	May 31, 2018
Long Term Debt Tables [Abstract]
Components of Long-term Debt (Net of Discounts and Debt Issuance Costs)	The components of long-term debt (net of discounts and debt issuance costs), along with maturity dates for the years subsequent to May 31, 2018, are as follows (in millions): May 31, 2018 2017 Interest Rate% Maturity Senior unsecured debt: 8.00 2019 $ 750 $ 749 2.30 2020 399 398 2.625-2.70 2023 746 745 4.00 2024 746 745 3.20 2025 695 695 3.25 2026 744 743 3.30 2027 445 445 3.40 2028 495 - 4.90 2034 495 495 3.90 2035 493 493 3.875-4.10 2043 983 983 5.10 2044 742 742 4.10 2045 640 640 4.55-4.75 2046 2,459 2,458 4.40 2047 735 734 4.05 2048 986 - 4.50 2065 246 246 7.60 2098 237 237 Euro senior unsecured debt: floating rate 2019 582 558 0.50 2020 581 557 1.00 2023 869 833 1.625 2027 1,442 1,382 Total senior unsecured debt 16,510 14,878 Other debt 4 9 Capital lease obligations 71 44 16,585 14,931 Less current portion 1,342 22 $ 15,243 $ 14,909

Leases (Tables)

Leases (Tables)	12 Months Ended
	May 31, 2018
Leases Tables [Abstract]
Schedule of Rent Expense Under Operating Leases	Rent expense under operating leases for the years ended May 31 was as follows (in millions): 2018 2017 2016 Minimum rentals $ 2,913 $ 2,814 $ 2,394 Contingent rentals (1) 194 178 214 $ 3,107 $ 2,992 $ 2,608 (1) Contingent rentals are based on equipment usage.
Schedule of Future Minimum Lease Payments, Operating Leases	A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at May 31, 2018 is as follows (in millions): Operating Leases Aircraft and Related Equipment Facilities and Other Total Operating Leases 2019 $ 343 $ 2,128 $ 2,471 2020 261 1,916 2,177 2021 203 1,748 1,951 2022 185 1,577 1,762 2023 127 1,421 1,548 Thereafter 48 8,145 8,193 Total $ 1,167 $ 16,935 $ 18,102

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	May 31, 2018
Accumulated Other Comprehensive Income Loss Tables [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides changes in AOCI, net of tax, reported in the consolidated financial statements for the years ended May 31 (in millions; amounts in parentheses indicate debits to AOCI): 2018 2017 2016 Foreign currency translation gain (loss): Balance at beginning of period $ (685 ) $ (514 ) $ (253 ) Translation adjustments (74 ) (171 ) (261 ) Balance at end of period (759 ) (685 ) (514 ) Retirement plans adjustments: Balance at beginning of period 270 345 425 Prior service credit and other arising during period (4 ) 1 (4 ) Reclassifications from AOCI (85 ) (76 ) (76 ) Balance at end of period 181 270 345 Accumulated other comprehensive (loss) income at end of period $ (578 ) $ (415 ) $ (169 )
Reclassification Out of Accumulated Other Comprehensive Income (Loss)	The following table presents details of the reclassifications from AOCI for the years ended May 31 (in millions; amounts in parentheses indicate debits to earnings): Amount Reclassified from AOCI Affected Line Item in the Income Statement 2018 2017 2016 Amortization of retirement plans prior service credits, before tax $ 121 $ 120 $ 121 Salaries and employee benefits Income tax benefit (36 ) (44 ) (45 ) Provision for income taxes AOCI reclassifications, net of tax $ 85 $ 76 $ 76 Net income

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	May 31, 2018
Stock Based Compensation Tables [Abstract]
Stock-based compensation expense	Our total stock-based compensation expense for the years ended May 31 was as follows (in millions): 2018 2017 2016 Stock-based compensation expense $ 167 $ 154 $ 144
Schedule of Stock Based Compensation Key Assumptions for Valuation	The following is a table of the weighted-average Black-Scholes value of our stock option grants, the intrinsic value of options exercised (in millions) and the key weighted-average assumptions used in the valuation calculations for options granted during the years ended May 31, and then a discussion of our methodology for developing each of the assumptions used in the valuation model: 2018 2017 2016 Weighted-average Black-Scholes value $ 55.72 $ 43.99 $ 52.40 Intrinsic value of options exercised $ 359 $ 274 $ 115 Black-Scholes Assumptions: Expected lives 6.5 years 6.5 years 6.4 years Expected volatility 23 % 25 % 28 % Risk-free interest rate 2.07 % 1.64 % 1.94 % Dividend yield 0.796 % 0.719 % 0.519 %
Schedule of Stock Option Activity	The following table summarizes information about stock option activity for the year ended May 31, 2018: Stock Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in millions) (1) Outstanding at June 1, 2017 13,598,699 $ 125.66 Granted 2,778,238 221.15 Exercised (2,975,835 ) 109.95 Forfeited (416,185 ) 178.75 Outstanding at May 31, 2018 12,984,917 $ 147.98 6.3 $ 1,326 Exercisable 7,303,111 $ 113.12 4.7 $ 993 Expected to vest 5,382,943 $ 192.79 8.3 $ 315 Available for future grants 15,788,701 (1) Only presented for options with market value at May 31, 2018 in excess of the exercise price of the option.
Schedule of Vested and Unvested Restricted Stock	The following table summarizes information about vested and unvested restricted stock for the year ended May 31, 2018: Restricted Stock Shares Weighted- Average Grant Date Fair Value Unvested at June 1, 2017 362,304 $ 155.53 Granted 155,624 212.60 Vested (177,264 ) 148.94 Forfeited (3,074 ) 148.95 Unvested at May 31, 2018 337,590 $ 185.16
Schedule of Stock Option Vesting	The following table summarizes information about stock option vesting during the years ended May 31: Stock Options Vested during the year Fair value (in millions) 2018 2,465,493 $ 112 2017 2,427,837 104 2016 2,572,129 98

Computation of Earnings Per S41

Computation of Earnings Per Share (Tables)	12 Months Ended
	May 31, 2018
Computation Of Earnings Per Share Tables [Abstract]
Schedule of basic and diluted earnings per common share	The calculation of basic and diluted earnings per common share for the years ended May 31 was as follows (in millions, except per share amounts): 2018 2017 2016 Basic earnings per common share: Net earnings allocable to common shares (1) $ 4,566 $ 2,993 $ 1,818 Weighted-average common shares 267 266 276 Basic earnings per common share $ 17.08 $ 11.24 $ 6.59 Diluted earnings per common share: Net earnings allocable to common shares (1) $ 4,566 $ 2,993 $ 1,818 Weighted-average common shares 267 266 276 Dilutive effect of share-based awards 5 4 3 Weighted-average diluted shares 272 270 279 Diluted earnings per common share $ 16.79 $ 11.07 $ 6.51 Anti-dilutive options excluded from diluted earnings per common share 2.5 4.5 3.9 (1) Net earnings available to participating securities were immaterial in all periods presented.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	May 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	The components of the provision for income taxes for the years ended May 31 were as follows (in millions): 2018 2017 2016 Current provision Domestic: Federal $ (540 ) $ 269 $ 513 State and local 43 88 72 Foreign 461 285 200 (36 ) 642 785 Deferred provision (benefit) Domestic: Federal 271 989 155 State and local 125 59 (18 ) Foreign (579 ) (108 ) (2 ) (183 ) 940 135 $ (219 ) $ 1,582 $ 920
Schedule of Reconciliation of Total Income Tax Expense and Amount Computed by Statutory Federal Income Tax Rate to Income Before Taxes	A reconciliation of total income tax expense and the amount computed by applying the statutory federal income tax rate (29.2% in 2018 and 35% in 2017 and 2016) to income before taxes for the years ended May 31 is as follows (in millions): 2018 2017 2016 Taxes computed at federal statutory rate $ 1,271 $ 1,603 $ 959 Increases (decreases) in income tax from: Goodwill impairment charge 109 — — State and local income taxes, net of federal benefit 119 99 33 Foreign operations 43 (19 ) (50 ) Corporate structuring transactions (1) (255 ) (68 ) (76 ) Tax Cuts and Jobs Act (2) (1,357 ) — — Foreign tax credits from distributions (225 ) — — Uncertain tax positions 86 — — TNT Express integration and acquisition costs 20 25 40 Other, net (3) (30 ) (58 ) 14 $ (219 ) $ 1,582 $ 920 Effective Tax Rate (5.0 )% 34.6 % 33.6 % (1) The 2018 and 2017 net benefits consist of foreign deferred tax benefits of $434 million and $94 million, respectively, which were partially offset by U.S. deferred tax expenses of $179 million and $26 million, respectively. (2 ) Primary components are a $1.15 billion benefit from the remeasurement of our net U.S. deferred tax liability and a $204 million one-time benefit from a contribution to our U.S. Pensions Plans in February 2018. (3 ) Includes benefits from share-based payments of $60 million and $55 million in 2018 and 2017, respectively.
Schedule of Significant Components of Deferred Tax Assets and Liabilities	The significant components of deferred tax assets and liabilities as of May 31 were as follows (in millions): 2018 2017 Deferred Tax Assets Deferred Tax Liabilities Deferred Tax Assets Deferred Tax Liabilities Property, equipment, leases and intangibles $ 752 $ 3,663 $ 124 $ 4,993 Employee benefits 595 31 1,951 — Self-insurance accruals 494 — 745 — Other 416 602 692 660 Net operating loss/credit carryforwards 1,146 — 1,069 — Valuation allowances (711 ) — (738 ) — $ 2,692 $ 4,296 $ 3,843 $ 5,653
Schedule of Net Deferred Tax Liabilities	The net deferred tax liabilities as of May 31 have been classified in the balance sheets as follows (in millions): 2018 2017 Noncurrent deferred tax assets (1) $ 1,263 $ 675 Noncurrent deferred tax liabilities (2,867 ) (2,485 ) $ (1,604 ) $ (1,810 ) (1) Noncurrent deferred tax assets are included in the line item “Other Assets” in our consolidated balance sheets.
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): 2018 2017 2016 Balance at beginning of year $ 67 $ 49 $ 36 Increases for tax positions taken in the current year 3 — 3 Increases for tax positions taken in prior years 103 8 3 Increase for business acquisition — 17 25 Decreases for tax positions taken in prior years (10 ) (1 ) (5 ) Settlements (2 ) (4 ) (4 ) Decreases from lapse of statute of limitations — (2 ) (7 ) Changes due to currency translation — — (2 ) Balance at end of year $ 161 $ 67 $ 49

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	May 31, 2018
Retirement Plan Tables [Abstract]
Schedule of Retirement Plan Costs	A summary of our retirement plans costs over the past three years is as follows (in millions): 2018 2017 2016 Defined benefit pension plans $ 150 $ 234 $ 214 Defined contribution plans 527 480 416 Postretirement healthcare plans 74 76 82 Retirement plans mark-to-market (gain) loss (10 ) (24 ) 1,498 $ 741 $ 766 $ 2,210 The components of the MTM adjustments are as follows (in millions): 2018 2017 2016 Discount rate changes $ (613 ) $ 266 $ 1,129 Demographic assumption experience 382 450 (916 ) Annuity contract purchase 210 — — Actual versus expected return on assets 11 (740 ) 1,285 Total mark-to-market (gain) loss $ (10 ) $ (24 ) $ 1,498
Schedule of Weighted-Average Actuarial Assumptions Used to Determine the Benefit Obligations and Net Periodic Benefit Cost of Plans	Weighted-average actuarial assumptions used to determine the benefit obligations and net periodic benefit cost of our plans are as follows: U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Discount rate used to determine benefit obligation 4.27 % 4.08 % 4.13 % 2.37 % 2.43 % 2.46 % 4.33 % 4.32 % 4.43 % Discount rate used to determine net periodic benefit cost 4.08 4.13 4.42 2.43 2.46 2.95 4.32 4.43 4.62 Rate of increase in future compensation levels used to determine benefit obligation 4.43 4.47 4.46 2.26 2.42 2.82 — — — Rate of increase in future compensation levels used to determine net periodic benefit cost 4.47 4.46 4.62 2.42 2.82 3.19 — — — Expected long-term rate of return on assets 6.50 6.50 6.50 3.09 3.18 3.68 — — —
Schedule of Plan Assets at Measurement Date	The fair values of investments by level and asset category and the weighted-average asset allocations for our U.S. Pension Plans and most significant international pension plans at the measurement date are presented in the following table (in millions): Plan Assets at Measurement Date 2018 Asset Class (U.S. Plans) Fair Value Actual % Target Range % (1) Quoted Prices in Active Markets Level 1 Other Observable Inputs Level 2 Unobservable Inputs Level 3 Cash and cash equivalents $ 714 3 % 0 - 5% $ 19 $ 695 Equities 30 - 50 U.S. large cap equity (2) 2,449 11 840 International equities (2) 3,506 16 2,681 172 Global equities (2) 1,772 8 U.S. SMID cap equity 780 4 780 Fixed income securities 50 - 70 Corporate 5,834 26 5,834 Government (2) 4,872 22 3,345 Mortgage-backed and other (2) 626 3 125 Alternative investments (2) 1,573 7 0 - 10 $ 209 Other (69 ) — (62 ) (7 ) Total U.S. plan assets $ 22,057 100 % $ 4,258 $ 10,164 $ 209 Asset Class (International Plans) Cash and cash equivalents $ 24 2 % $ 2 $ 22 Equities International equities (2) 146 11 70 Global equities (2) 228 17 Fixed income securities Corporate (2) 306 23 68 Government (2) 452 34 108 256 Mortgage-backed and other (2) 168 13 Alternative investments 19 2 19 Other (23 ) (2 ) (6 ) (17 ) Total international plan assets $ 1,320 100 % $ 104 $ 418 (1) Target ranges have not been provided for international plan assets as they are managed at an individual country level. (2) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total. Plan Assets at Measurement Date 2017 Asset Class (U.S. Plans) Fair Value Actual % Target Range % (1) Quoted Prices in Active Markets Level 1 Other Observable Inputs Level 2 Unobservable Inputs Level 3 Cash and cash equivalents $ 1,076 4 % 0 - 5% $ 26 $ 1,050 Equities 30 - 50 U.S. large cap equity (2) 2,415 10 830 International equities (2) 3,521 14 2,747 157 Global equities (2) 3,276 13 U.S. SMID cap equity 987 4 987 Fixed income securities 50 - 70 Corporate 8,163 33 8,163 Government (2) 4,674 19 3,454 Mortgage-backed and other (2) 603 2 129 Alternative investments (2) 377 2 0 - 5 $ 129 Other (159 ) (1 ) (161 ) 2 Total U.S. plan assets $ 24,933 100 % $ 4,429 $ 12,955 $ 129 Asset Class (International Plans) Cash and cash equivalents $ 48 4 % $ 2 $ 46 Equities International equities (2) 137 11 72 Global equities (2) 202 17 Fixed income securities Corporate (2) 270 22 49 Government (2) 405 34 95 230 Mortgage-backed and other (2) 145 12 Alternative investments 17 1 17 Other (18 ) (1 ) (2 ) (16 ) Total international plan assets $ 1,206 100 % $ 95 $ 398 (1) Target ranges have not been provided for international plan assets as they are managed at an individual country level. (2) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total.
Schedule of Change in Fair Value of Level 3 Assets	The change in fair value of Level 3 assets that use significant unobservable inputs is shown in the table below (in millions): U.S. Pension Plans 2018 2017 Balance at beginning of year $ 129 $ 48 Actual return on plan assets: Assets held during current year 8 5 Assets sold during the year 4 1 Purchases, sales and settlements 68 75 Balance at end of year $ 209 $ 129
Schedule of Changes in the Pension and Postretirement Healthcare Plans' Benefit Obligation and Fair Value of Assets and Funded Status	The following table provides a reconciliation of the changes in the pension and postretirement healthcare plans’ benefit obligations and fair value of assets over the two-year period ended May 31, 2018 and a statement of the funded status as of May 31, 2018 and 2017 (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2018 2017 2018 2017 Accumulated Benefit Obligation (“ABO”) $ 22,029 $ 27,244 $ 1,956 $ 1,842 Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”) PBO/APBO at the beginning of year $ 27,870 $ 27,804 $ 2,043 $ 1,798 $ 927 $ 905 Service cost 679 638 97 83 36 36 Interest cost 1,115 1,128 49 43 39 39 Actuarial loss 21 571 (34 ) 161 (9 ) (14 ) Benefits paid (854 ) (2,271 ) (46 ) (38 ) (80 ) (72 ) Settlements (6,178 ) — (5 ) (7 ) — — Purchase accounting adjustment — — — 26 — — Other — — 63 (23 ) 42 33 PBO/APBO at the end of year $ 22,653 $ 27,870 $ 2,167 $ 2,043 $ 955 $ 927 Change in Plan Assets Fair value of plan assets at the beginning of year $ 24,933 $ 23,017 $ 1,379 $ 1,254 $ — $ — Actual return on plan assets 1,609 2,167 49 112 — — Company contributions 2,547 2,020 84 95 42 36 Benefits paid (854 ) (2,271 ) (46 ) (38 ) (80 ) (72 ) Settlements (6,178 ) — (5 ) (7 ) — — Other — — 48 (37 ) 38 36 Fair value of plan assets at the end of year $ 22,057 $ 24,933 $ 1,509 $ 1,379 $ — $ — Funded Status of the Plans $ (596 ) $ (2,937 ) $ (658 ) $ (664 ) $ (955 ) $ (927 ) Amount Recognized in the Balance Sheet at May 31: Noncurrent asset $ — $ — $ 73 $ 40 $ — $ — Current pension, postretirement healthcare and other benefit obligations (22 ) (33 ) (16 ) (17 ) (62 ) (39 ) Noncurrent pension, postretirement healthcare and other benefit obligations (574 ) (2,904 ) (715 ) (687 ) (893 ) (888 ) Net amount recognized $ (596 ) $ (2,937 ) $ (658 ) $ (664 ) $ (955 ) $ (927 ) Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost: Prior service (credit) cost and other $ (292 ) $ (410 ) $ (10 ) $ (13 ) $ 2 $ (4 ) Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost expected to be amortized in next year’s Net Periodic Benefit Cost: Prior service credit and other $ (118 ) $ (118 ) $ (2 ) $ (2 ) $ — $ —
Schedule of Components of Pension Plans	Our pension plans included the following components at May 31 (in millions): PBO Fair Value of Plan Assets Funded Status 2018 Qualified $ 22,413 $ 22,057 $ (356 ) Nonqualified 240 — (240 ) International Plans 2,167 1,509 (658 ) Total $ 24,820 $ 23,566 $ (1,254 ) 2017 Qualified $ 27,600 $ 24,933 $ (2,667 ) Nonqualified 270 — (270 ) International Plans 2,043 1,379 (664 ) Total $ 29,913 $ 26,312 $ (3,601 )
Schedule of Fair Value of Plan Assets for Pension Plans with an Obligation in Excess of Plan Assets	The table above provides the PBO, fair value of plan assets and funded status of our pension plans on an aggregated basis. The following table presents our plans on a disaggregated basis to show those plans (as a group) whose assets did not exceed their liabilities. The fair value of plan assets for pension plans with a PBO or ABO in excess of plan assets at May 31 were as follows (in millions): PBO Exceeds the Fair Value of Plan Assets 2018 2017 U.S. Pension Benefits Fair value of plan assets $ 22,057 $ 24,933 PBO (22,653 ) (27,870 ) Net funded status $ (596 ) $ (2,937 ) International Pension Benefits Fair value of plan assets $ 1,060 $ 952 PBO (1,791 ) (1,656 ) Net funded status $ (731 ) $ (704 ) ABO Exceeds the Fair Value of Plan Assets 2018 2017 U.S. Pension Benefits ABO (1) $ (1,134 ) $ (27,244 ) Fair value of plan assets 859 24,933 PBO (1,214 ) (27,870 ) Net funded status $ (355 ) $ (2,937 ) International Pension Benefits ABO (1) $ (1,581 ) $ (1,433 ) Fair value of plan assets 1,060 928 PBO (1,791 ) (1,626 ) Net funded status $ (731 ) $ (698 ) (1) ABO not used in determination of funded status.
Schedule of Contributions to Pension Plans	Contributions to our U.S. Pension Plans for the years ended May 31 were as follows (in millions): 2018 2017 Required $ 22 $ 459 Voluntary 2,478 1,541 $ 2,500 $ 2,000
Schedule of Net Periodic Benefit Cost	Net periodic benefit cost for the three years ended May 31 were as follows (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2018 2017 2016 2018 2017 2016 2018 2017 2016 Service cost $ 679 $ 638 $ 622 $ 97 $ 83 $ 40 $ 36 $ 36 $ 40 Interest cost 1,115 1,128 1,155 49 43 25 39 39 42 Expected return on plan assets (1,624 ) (1,501 ) (1,490 ) (46 ) (38 ) (18 ) — — — Amortization of prior service credit (118 ) (118 ) (118 ) (2 ) (2 ) (3 ) (1 ) — — Actuarial losses (gains) and other 37 (95 ) 1,563 (38 ) 87 (1 ) (9 ) (14 ) (64 ) Net periodic benefit cost $ 89 $ 52 $ 1,732 $ 60 $ 173 $ 43 $ 65 $ 61 $ 18
Schedule of Amounts Recognized in Other Comprehensive Income for All Plans	Amounts recognized in other comprehensive income (“OCI”) for all plans for the years ended May 31 were as follows (in millions): 2018 2017 U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Gross Amount Net of Tax Amount Prior service cost (credit) arising during period $ — $ — $ — $ — $ 5 $ 4 $ — $ — $ 1 $ 1 $ (3 ) $ (2 ) Amortizations: Prior services credit 118 83 2 1 1 1 118 74 2 2 — — Total recognized in OCI $ 118 $ 83 $ 2 $ 1 $ 6 $ 5 $ 118 $ 74 $ 3 $ 3 $ (3 ) $ (2 )
Schedule of Expected Future Benefit Payments	Benefit payments, which reflect expected future service, are expected to be paid as follows for the years ending May 31 (in millions): U.S. Pension Plans International Pension Plans Postretirement Healthcare Plans 2019 $ 680 $ 48 $ 62 2020 781 48 65 2021 846 54 69 2022 951 71 73 2023 1,071 79 76 2024-2028 7,325 428 369

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	May 31, 2018
Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]
Schedule of Segment Information	The following table provides a reconciliation of reportable segment revenues, depreciation and amortization, operating income (loss) and segment assets to consolidated financial statement totals (in millions) for the years ended or as of May 31: FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Corporate, other and eliminations (1) Consolidated Total Revenues 2018 $ 36,172 $ 18,395 $ 6,812 $ 1,650 $ 2,421 $ 65,450 2017 33,824 16,503 6,070 1,621 2,301 60,319 2016 25,553 15,051 5,825 1,593 2,343 50,365 Depreciation and amortization 2018 $ 1,679 $ 681 $ 296 $ 382 $ 57 $ 3,095 2017 1,662 627 265 371 70 2,995 2016 1,377 556 244 384 70 2,631 Operating income (loss) 2018 (2) $ 2,578 $ 2,605 $ 517 $ — $ (830 ) $ 4,870 2017 (3) 2,769 2,279 390 — (401 ) 5,037 2016 (4) 2,485 2,240 421 — (2,069 ) 3,077 Segment assets (5) 2018 $ 31,753 $ 15,458 $ 7,389 $ 6,377 $ (8,647 ) $ 52,330 2017 31,307 12,969 6,527 5,682 (7,933 ) 48,552 2016 20,798 11,407 6,104 5,390 2,260 45,959 (1) Includes TNT Express’s assets and immaterial financial results for 2016 from the time of acquisition (May 25, 2016). (2) Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million. (3) Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information. (4) Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million. (5) Segment assets include intercompany receivables.
Schedule of Segment Capital Expenditures	The following table provides a reconciliation of reportable segment capital expenditures to consolidated totals for the years ended May 31 (in millions): FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment Other Consolidated Total 2018 $ 3,461 $ 1,178 $ 490 $ 477 $ 57 $ 5,663 2017 2,725 1,490 431 416 54 5,116 2016 2,350 1,556 428 432 52 4,818
Schedule of Revenue by Service Type and Geographical Information	The following table presents revenue by service type and geographic information for the years ended or as of May 31 (in millions): 2018 2017 2016 REVENUE BY SERVICE TYPE FedEx Express segment: Package: U.S. overnight box $ 7,273 $ 6,955 $ 6,763 U.S. overnight envelope 1,788 1,750 1,662 U.S. deferred 3,738 3,526 3,379 Total U.S. domestic package revenue 12,799 12,231 11,804 International priority 7,356 6,940 5,697 International economy 3,255 2,876 2,282 Total international export package revenue 10,611 9,816 7,979 International domestic (1) 4,587 4,227 1,285 Total package revenue 27,997 26,274 21,068 Freight: U.S. 2,797 2,527 2,481 International priority 2,179 1,910 999 International economy 1,916 1,740 385 International airfreight 368 355 126 Total freight revenue 7,260 6,532 3,991 Other 915 1,018 494 Total FedEx Express segment 36,172 33,824 25,553 FedEx Ground segment 18,395 16,503 15,051 FedEx Freight segment 6,812 6,070 5,825 FedEx Services segment 1,650 1,621 1,593 Other and eliminations (2) 2,421 2,301 2,343 $ 65,450 $ 60,319 $ 50,365 GEOGRAPHICAL INFORMATION (3) Revenues: U.S. $ 43,581 $ 40,269 $ 38,070 International: FedEx Express segment 20,417 18,817 11,083 FedEx Ground segment 407 331 275 FedEx Freight segment 181 149 137 FedEx Services segment 3 10 10 Other (2) 861 743 790 Total international revenue 21,869 20,050 12,295 $ 65,450 $ 60,319 $ 50,365 Noncurrent assets: U.S. $ 30,362 $ 28,141 $ 25,942 International 8,627 7,783 8,028 $ 38,989 $ 35,924 $ 33,970 (1) International domestic revenues relate to our intra-country operations. (2) Includes the FedEx Trade Networks operating segment and TNT Express’s revenue for 2016 from the time of acquisition (May 25, 2016). (3) International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.

Supplemental Cash Flow Inform45

Supplemental Cash Flow Information (Tables)	12 Months Ended
	May 31, 2018
Supplemental Cash Flow Tables [Abstract]
Supplemental Cash Flow	Cash paid for interest expense and income taxes for the years ended May 31 was as follows (in millions): 2018 2017 2016 Cash payments for: Interest (net of capitalized interest) $ 524 $ 484 $ 321 Income taxes $ 760 $ 397 $ 996 Income tax refunds received (571 ) (20 ) (5 ) Cash tax payments, net $ 189 $ 377 $ 991

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	May 31, 2018
Commitments Tables [Abstract]
Schedule of Purchase Commitments	Annual purchase commitments under various contracts as of May 31, 2018 were as follows (in millions): Aircraft and Aircraft Related Other (1) Total 2019 $ 1,534 $ 894 $ 2,428 2020 1,922 692 2,614 2021 1,255 416 1,671 2022 1,359 285 1,644 2023 628 185 813 Thereafter 2,653 491 3,144 Total $ 9,351 $ 2,963 $ 12,314 (1) Primarily equipment and advertising contracts.
Schedule of Aircraft Purchase Commitments	The following table is a summary of the key aircraft we are committed to purchase as of May 31, 2018, with the year of expected delivery: Cessna SkyCourier 408 ATR 72-600F B767F B777F Total 2019 - - 15 3 18 2020 - - 16 6 22 2021 12 5 10 - 27 2022 12 6 10 3 31 2023 12 6 6 - 24 Thereafter 14 13 - - 27 Total 50 30 57 12 149

Summary of Quarterly Operatin47

Summary of Quarterly Operating Results (Unaudited) (Tables)	12 Months Ended
	May 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Operating Results (Unaudited)	(in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter 2018 (1) Revenues $ 15,297 $ 16,313 $ 16,526 $ 17,314 Operating income 1,117 1,262 1,001 1,490 Net income (2) 596 775 2,074 1,127 Basic earnings per common share (3) 2.22 2.89 7.74 4.23 Diluted earnings per common share (3) 2.19 2.84 7.59 4.15 2017 (4) Revenues $ 14,663 $ 14,931 $ 14,997 $ 15,728 Operating income (loss) 1,264 1,167 1,025 1,581 Net income (loss) 715 700 562 1,020 Basic earnings (loss) per common share (3) 2.69 2.63 2.11 3.81 Diluted earnings (loss) per common share (3) 2.65 2.59 2.07 3.75 (1) The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment. (2) The fourth quarter of 2018 includes a $255 million net tax benefit from corporate structuring transactions as part of the ongoing integration of FedEx Express and TNT Express. The fourth quarter, third quarter, and second quarter of 2018 include $133 million, $12 million, and $80 million, respectively, of tax benefits from foreign tax credits associated with distributions to the U.S. from foreign operations. The fourth quarter and third quarter of 2018 include $100 million and $165 million, respectively, of tax benefits related to a lower statutory income tax rate on fiscal 2018 earnings. In addition, the third quarter of 2018 includes the following TCJA-related items: a provisional benefit of $1.15 billion related to the remeasurement of our net U.S. deferred tax liability and a one-time benefit of $204 million from a $1.5 billion contribution to our U.S. Pension Plans. (3) The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective periods. (4) The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.

Condensed Consolidating Finan48

Condensed Consolidating Financial Statements (Tables)	12 Months Ended
	May 31, 2018
Condensed Consolidating Financial Statements Tables [Abstract]
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,485 $ 257 $ 1,538 $ (15 ) $ 3,265 Receivables, less allowances 3 4,970 3,586 (78 ) 8,481 Spare parts, supplies, fuel, prepaid expenses and other, less allowances 425 878 292 — 1,595 Total current assets 1,913 6,105 5,416 (93 ) 13,341 PROPERTY AND EQUIPMENT, AT COST 21 51,232 3,868 — 55,121 Less accumulated depreciation and amortization 17 25,111 1,839 — 26,967 Net property and equipment 4 26,121 2,029 — 28,154 INTERCOMPANY RECEIVABLE 1,487 924 — (2,411 ) — GOODWILL — 1,709 5,264 — 6,973 INVESTMENT IN SUBSIDIARIES 33,370 4,082 — (37,452 ) — OTHER ASSETS 75 1,854 1,829 104 3,862 $ 36,849 $ 40,795 $ 14,538 $ (39,852 ) $ 52,330 LIABILITIES AND STOCKHOLDERS’ INVESTMENT CURRENT LIABILITIES Current portion of long-term debt $ 1,332 $ 1 $ 9 $ — $ 1,342 Accrued salaries and employee benefits 65 1,506 606 — 2,177 Accounts payable 16 1,332 1,719 (90 ) 2,977 Accrued expenses 460 1,778 896 (3 ) 3,131 Total current liabilities 1,873 4,617 3,230 (93 ) 9,627 LONG-TERM DEBT, LESS CURRENT PORTION 14,942 288 13 — 15,243 INTERCOMPANY PAYABLE — — 2,411 (2,411 ) — OTHER LONG-TERM LIABILITIES Deferred income taxes — 2,626 137 104 2,867 Other liabilities 619 3,432 1,126 — 5,177 Total other long-term liabilities 619 6,058 1,263 104 8,044 STOCKHOLDERS’ INVESTMENT 19,415 29,832 7,621 (37,452 ) 19,416 $ 36,849 $ 40,795 $ 14,538 $ (39,852 ) $ 52,330 CONDENSED CONSOLIDATING BALANCE SHEETS May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,884 $ 325 $ 1,807 $ (47 ) $ 3,969 Receivables, less allowances 3 4,729 2,928 (61 ) 7,599 Spare parts, supplies, fuel, prepaid expenses and other, less allowances 25 787 248 — 1,060 Total current assets 1,912 5,841 4,983 (108 ) 12,628 PROPERTY AND EQUIPMENT, AT COST 22 47,201 3,403 — 50,626 Less accumulated depreciation and amortization 18 23,211 1,416 — 24,645 Net property and equipment 4 23,990 1,987 — 25,981 INTERCOMPANY RECEIVABLE 1,521 2,607 — (4,128 ) — GOODWILL — 1,571 5,583 — 7,154 INVESTMENT IN SUBSIDIARIES 27,712 2,636 — (30,348 ) — OTHER ASSETS 3,494 1,271 1,249 (3,225 ) 2,789 $ 34,643 $ 37,916 $ 13,802 $ (37,809 ) $ 48,552 LIABILITIES AND STOCKHOLDERS’ INVESTMENT CURRENT LIABILITIES Current portion of long-term debt $ — $ 9 $ 13 $ — $ 22 Accrued salaries and employee benefits 72 1,335 507 — 1,914 Accounts payable 10 1,411 1,439 (108 ) 2,752 Accrued expenses 991 1,522 717 — 3,230 Total current liabilities 1,073 4,277 2,676 (108 ) 7,918 LONG-TERM DEBT, LESS CURRENT PORTION 14,641 244 24 — 14,909 INTERCOMPANY PAYABLE — — 4,128 (4,128 ) — OTHER LONG-TERM LIABILITIES Deferred income taxes — 5,472 238 (3,225 ) 2,485 Other liabilities 2,856 3,448 863 — 7,167 Total other long-term liabilities 2,856 8,920 1,101 (3,225 ) 9,652 STOCKHOLDERS’ INVESTMENT 16,073 24,475 5,873 (30,348 ) 16,073 $ 34,643 $ 37,916 $ 13,802 $ (37,809 ) $ 48,552
Condensed Consolidating Statements of Comprehensive Income	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 48,601 $ 17,256 $ (407 ) $ 65,450 OPERATING EXPENSES: Salaries and employee benefits 149 17,814 5,244 — 23,207 Purchased transportation — 9,134 6,191 (224 ) 15,101 Rentals and landing fees 5 2,587 776 (7 ) 3,361 Depreciation and amortization 1 2,644 450 — 3,095 Fuel — 3,077 297 — 3,374 Maintenance and repairs 1 2,294 327 — 2,622 Goodwill and other asset impairment charges — — 380 — 380 Retirement plans mark-to-market adjustment — 19 (29 ) — (10 ) Intercompany charges, net (437 ) (120 ) 557 — — Other 281 6,227 3,118 (176 ) 9,450 — 43,676 17,311 (407 ) 60,580 OPERATING INCOME — 4,925 (55 ) — 4,870 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 4,572 62 — (4,634 ) — Interest, net (541 ) 46 (15 ) — (510 ) Intercompany charges, net 544 (291 ) (253 ) — — Other, net (3 ) (120 ) 116 — (7 ) INCOME BEFORE INCOME TAXES 4,572 4,622 (207 ) (4,634 ) 4,353 Provision for income taxes (benefit) — 309 (528 ) — (219 ) NET INCOME $ 4,572 $ 4,313 $ 321 $ (4,634 ) $ 4,572 COMPREHENSIVE INCOME $ 4,489 $ 4,263 $ 291 $ (4,634 ) $ 4,409 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 44,823 $ 15,798 $ (302 ) $ 60,319 OPERATING EXPENSES: Salaries and employee benefits 123 16,696 4,723 — 21,542 Purchased transportation — 8,260 5,495 (125 ) 13,630 Rentals and landing fees 5 2,517 724 (6 ) 3,240 Depreciation and amortization 1 2,538 456 — 2,995 Fuel — 2,476 297 — 2,773 Maintenance and repairs 1 2,086 287 — 2,374 Retirement plans mark-to-market adjustment — (75 ) 51 — (24 ) Intercompany charges, net (434 ) 182 252 — — Other 304 5,734 2,885 (171 ) 8,752 — 40,414 15,170 (302 ) 55,282 OPERATING INCOME — 4,409 628 — 5,037 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 2,997 68 — (3,065 ) — Interest, net (507 ) 27 1 — (479 ) Intercompany charges, net 508 (296 ) (212 ) — — Other, net (1 ) (134 ) 156 — 21 INCOME BEFORE INCOME TAXES 2,997 4,074 573 (3,065 ) 4,579 Provision for income taxes — 1,439 143 — 1,582 NET INCOME $ 2,997 $ 2,635 $ 430 $ (3,065 ) $ 2,997 COMPREHENSIVE INCOME $ 2,922 $ 2,580 $ 314 $ (3,065 ) $ 2,751 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME Year Ended May 31, 2016 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated REVENUES $ — $ 42,143 $ 8,547 $ (325 ) $ 50,365 OPERATING EXPENSES: Salaries and employee benefits 119 15,880 2,582 — 18,581 Purchased transportation — 7,380 2,720 (134 ) 9,966 Rentals and landing fees 5 2,484 371 (6 ) 2,854 Depreciation and amortization 1 2,399 231 — 2,631 Fuel — 2,324 75 — 2,399 Maintenance and repairs 1 1,954 153 — 2,108 Retirement plans mark-to-market adjustment — 1,414 84 — 1,498 Intercompany charges, net (645 ) 425 220 — — Other 519 5,274 1,643 (185 ) 7,251 — 39,534 8,079 (325 ) 47,288 OPERATING INCOME — 2,609 468 — 3,077 OTHER INCOME (EXPENSE): Equity in earnings of subsidiaries 1,820 279 — (2,099 ) — Interest, net (355 ) 27 13 — (315 ) Intercompany charges, net 369 (354 ) (15 ) — — Other, net (14 ) (14 ) 6 — (22 ) INCOME BEFORE INCOME TAXES 1,820 2,547 472 (2,099 ) 2,740 Provision for income taxes — 818 102 — 920 NET INCOME $ 1,820 $ 1,729 $ 370 $ (2,099 ) $ 1,820 COMPREHENSIVE INCOME $ 1,746 $ 1,704 $ 128 $ (2,099 ) $ 1,479
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2018 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (2,837 ) $ 6,767 $ 712 $ 32 $ 4,674 INVESTING ACTIVITIES Capital expenditures (1 ) (5,299 ) (363 ) — (5,663 ) Business acquisitions, net of cash acquired — (44 ) (135 ) — (179 ) Proceeds from sale of business — — 123 — 123 Proceeds from asset dispositions and other (6 ) 33 15 — 42 CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (7 ) (5,310 ) (360 ) — (5,677 ) FINANCING ACTIVITIES Net transfers from (to) Parent 1,529 (1,612 ) 83 — — Payment on loan between subsidiaries 663 — (663 ) — — Intercompany dividends — 98 (98 ) — — Principal payments on debt — (22 ) (16 ) — (38 ) Proceeds from debt issuance 1,480 — — — 1,480 Proceeds from stock issuances 327 — — — 327 Dividends paid (535 ) — — — (535 ) Purchase of treasury stock (1,017 ) — — — (1,017 ) Other, net 3 7 — — 10 CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,450 (1,529 ) (694 ) — 227 Effect of exchange rate changes on cash (5 ) 4 73 — 72 Net increase (decrease) in cash and cash equivalents (399 ) (68 ) (269 ) 32 (704 ) Cash and cash equivalents at beginning of period 1,884 325 1,807 (47 ) 3,969 Cash and cash equivalents at end of period $ 1,485 $ 257 $ 1,538 $ (15 ) $ 3,265 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2017 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (1,155 ) $ 5,254 $ 835 $ (4 ) $ 4,930 INVESTING ACTIVITIES Capital expenditures — (4,694 ) (422 ) — (5,116 ) Proceeds from asset dispositions and other 34 25 76 — 135 CASH USED IN INVESTING ACTIVITIES 34 (4,669 ) (346 ) — (4,981 ) FINANCING ACTIVITIES Net transfers from (to) Parent 421 (518 ) 97 — — Payment on loan between subsidiaries 41 (15 ) (26 ) — — Intercompany dividends — 1 (1 ) — — Principal payments on debt — (55 ) (27 ) — (82 ) Proceeds from debt issuances 1,190 — — — 1,190 Proceeds from stock issuances 337 — — — 337 Dividends paid (426 ) — — — (426 ) Purchase of treasury stock (509 ) — — — (509 ) Other, net (12 ) (13 ) 43 — 18 CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,042 (600 ) 86 — 528 Effect of exchange rate changes on cash (11 ) 14 (45 ) — (42 ) Net (decrease) increase in cash and cash equivalents (90 ) (1 ) 530 (4 ) 435 Cash and cash equivalents at beginning of period 1,974 326 1,277 (43 ) 3,534 Cash and cash equivalents at end of period $ 1,884 $ 325 $ 1,807 $ (47 ) $ 3,969 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended May 31, 2016 Parent Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (831 ) $ 5,932 $ 572 $ 35 $ 5,708 INVESTING ACTIVITIES Capital expenditures — (4,617 ) (201 ) — (4,818 ) Business acquisitions, net of cash acquired — — (4,618 ) — (4,618 ) Proceeds from asset dispositions and other (55 ) 33 12 — (10 ) CASH USED IN INVESTING ACTIVITIES (55 ) (4,584 ) (4,807 ) — (9,446 ) FINANCING ACTIVITIES Net transfers from (to) Parent 1,629 (1,549 ) (80 ) — — Payment on loan between subsidiaries (4,805 ) 109 4,696 — — Intercompany dividends — 20 (20 ) — — Principal payments on debt — (19 ) (22 ) — (41 ) Proceeds from debt issuance 6,519 — — — 6,519 Proceeds from stock issuances 183 — — — 183 Dividends paid (277 ) — — — (277 ) Purchase of treasury stock (2,722 ) — — — (2,722 ) Other, net (51 ) (48 ) 48 — (51 ) CASH PROVIDED (USED IN) FINANCING ACTIVITIES 476 (1,487 ) 4,622 — 3,611 Effect of exchange rate changes on cash 1 (22 ) (81 ) — (102 ) Net increase in cash and cash equivalents (409 ) (161 ) 306 35 (229 ) Cash and cash equivalents at beginning of period 2,383 487 971 (78 ) 3,763 Cash and cash equivalents at end of period $ 1,974 $ 326 $ 1,277 $ (43 ) $ 3,534

Valuation and Qualifying Acco49

Valuation and Qualifying Accounts (Tables)	12 Months Ended
	May 31, 2018
Valuation And Qualifying Accounts Tables Abstract
Schedule of Valuation and Qualifying Accounts	SCHEDULE II FEDEX CORPORATION VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED MAY 31, 2018, 2017 AND 2016 (IN MILLIONS) ADDITIONS DESCRIPTION BALANCE AT BEGINNING OF YEAR CHARGED TO EXPENSES CHARGED TO OTHER ACCOUNTS DEDUCTIONS BALANCE AT END OF YEAR Accounts Receivable Reserves: Allowance for Doubtful Accounts 2018 $ 115 $ 246 $ — $ 162 (a) $ 199 2017 73 136 — 94 (a) 115 2016 86 121 — 134 (a) 73 Allowance for Revenue Adjustments 2018 $ 137 $ — $ 1,173 (b) $ 1,108 (c) $ 202 2017 105 — 941 (b) 909 (c) 137 2016 99 — 692 (b) 686 (c) 105 Inventory Valuation Allowance: 2018 $ 237 $ 27 $ 6 $ 2 $ 268 2017 218 26 — 7 237 2016 207 26 — 15 218 (a) Uncollectible accounts written off, net of recoveries, and other adjustments. (b) Principally charged against revenue. (c) Service failures, rebills and other.

Description of Business and S50

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Millions	Apr. 30, 2018USD ($)	May 31, 2018USD ($)air-craft$ / sharesshares	May 31, 2017USD ($)$ / sharesshares	May 31, 2016USD ($)$ / sharesshares	Jan. 26, 2016shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Advertising and promotion expenses		$ 442	$ 458	$ 417
Depreciable life range for majority of aircraft costs		15 to 30 years
Depreciation expense, excluding gains and losses on sales of property and equipment		$ 3,095	2,995	2,631
Interest Costs Capitalized		$ 61	$ 41	$ 42
Number of Idle Aircraft | air-craft		5
Number of months aircraft remained idle		an average of 20 months
Gain on sale of TNT express business		$ 85
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased | shares					25,000,000
Number of Shares Repurchased | shares		4,300,000	3,000,000	18,200,000
Treasury Stock Acquired, Average Cost Per Share | $ / shares		$ 237.45	$ 172.13	$ 149.35
Payments for Repurchase of Common Stock		$ 1,017	$ 509	$ 2,722
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | shares		12,000,000
Dividends Payable, Date Declared		Jun. 11, 2018
Dividends Payable Amount Per Share | $ / shares		$ 0.65
Dividends Payable, Date To Be Paid		Jul. 9, 2018
Dividends Payable, Date Of Record		Jun. 25, 2018
Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Intangible assets amortization periods		3 years
Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Intangible assets amortization periods		15 years
FedEx Express Segment [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Depreciation expense, excluding gains and losses on sales of property and equipment		$ 1,679	$ 1,662	$ 1,377
FedEx Express Segment [Member] | TNT Express Business [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Gain on sale of TNT express business	$ 85

Description of Business and S51

Description of Business and Summary of Significant Accounting Policies - Schedule of Depreciable Lives and Net Book Value of Our Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017
Property Plant And Equipment [Line Items]
Net property and equipment	$ 28,154	$ 25,981
Wide Body Aircraft and Related Equipment [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	15 to 30 years
Net property and equipment	$ 10,463	9,103
Narrow Body and Feeder Aircraft and Related Equipment [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	5 to 18 years
Net property and equipment	$ 2,908	3,099
Package Handling and Ground Support Equipment [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	3 to 30 years
Net property and equipment	$ 4,028	3,862
Information Technology [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	2 to 10 years
Net property and equipment	$ 1,277	1,114
Vehicles [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	3 to 15 years
Net property and equipment	$ 3,747	3,400
Facilities and Other Property [Member]
Property Plant And Equipment [Line Items]
Depreciable lives range	2 to 40 years
Net property and equipment	$ 5,731	$ 5,403

Recent Accounting Guidance - Ad

Recent Accounting Guidance - Additional Information (Details) - USD ($) $ in Millions

3 Months Ended

12 Months Ended

May 31, 2018

Feb. 28, 2018

[1]

Nov. 30, 2017

[1]

Aug. 31, 2017

[1]

May 31, 2017

[2]

Feb. 28, 2017

[2]

Nov. 30, 2016

[2]

Aug. 31, 2016

[2]

May 31, 2018

May 31, 2017

May 31, 2016

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Income tax benefit of intra-entity transfers of assets other than inventory

$ 219

$ (1,582)

$ (920)

Operating income

$ 1,490

[1]

$ 1,001

$ 1,262

$ 1,117

$ 1,581

$ 1,025

$ 1,167

$ 1,264

4,870

[3]

5,037

[4]

$ 3,077

[5]

Lease liability and related right-of-use asset

13,000

13,000

ASU 201616 [Member]

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Income tax benefit of intra-entity transfers of assets other than inventory

50

Cumulative effect on adjustment to retained earnings

$ 14

ASU 201703 [Member]

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Operating income

$ 598

$ 471

[1]

The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.

[2]

The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.

[3]

Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.

[4]

Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.

[5]

Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.

Business Combinations - Additio

Business Combinations - Additional Information (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	May 31, 2016USD ($)	May 31, 2018USD ($)Country	Mar. 23, 2018USD ($)	Mar. 23, 2018GBP (£)	Oct. 13, 2017USD ($)	May 31, 2017USD ($)	May 25, 2016USD ($)	May 25, 2016EUR (€)
Business Acquisition [Line Items]
Goodwill	$ 6,747	$ 6,973				$ 7,154
TNT acquisition related costs	115
TNT restructuring, impairments, litigation matters and pension adjustments	40
TNT acquisition [Member]
Business Acquisition [Line Items]
Acquisition price						4,894	$ 4,900	€ 4,400
Cash acquired							$ 280	€ 250
Number of country for collection, transports and delivery of documents, parcels and freight | Country		200
Goodwill						$ 3,452
Net increase in goodwill	$ 488
P2P Mailing Limited [Member]
Business Acquisition [Line Items]
Acquisition price			$ 135	£ 92
Northwest Research, Inc. [Member]
Business Acquisition [Line Items]
Acquisition price					$ 50

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Price Allocation (Details) $ in Millions, € in Billions		May 31, 2018USD ($)	May 31, 2017USD ($)	May 31, 2016USD ($)	May 25, 2016USD ($)	May 25, 2016EUR (€)
Business Acquisition [Line Items]
Goodwill		$ 6,973	$ 7,154	$ 6,747
TNT acquisition [Member]
Business Acquisition [Line Items]
Current assets	[1]		1,852
Property and equipment			980
Goodwill			3,452
Identifiable intangible assets			530
Other non-current assets			472
Current liabilities	[2]		(1,688)
Long-term liabilities			(704)
Total purchase price			4,894		$ 4,900	€ 4.4
TNT acquisition [Member] | Preliminary [Member]
Business Acquisition [Line Items]
Current assets	[1]			1,905
Property and equipment				1,104
Goodwill				2,964
Identifiable intangible assets				920
Other non-current assets				289
Current liabilities	[2]			(1,644)
Long-term liabilities				(644)
Total purchase price				$ 4,894
TNT acquisition [Member] | Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Current assets	[1]		(53)
Property and equipment			(124)
Goodwill			488
Identifiable intangible assets			(390)
Other non-current assets			183
Current liabilities	[2]		(44)
Long-term liabilities			$ (60)
[1]	Primarily accounts receivable and cash.
[2]	Primarily accounts payable and accrued expenses.

Business Combinations - Sched55

Business Combinations - Schedule of Intangible Assets with Finite Lives (Details) - TNT Express Intangible [Member] $ in Millions	12 Months Ended
	May 31, 2018USD ($)
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 530
Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets with finite lives	430
Technology [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets with finite lives	20
Trademarks [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets with finite lives	$ 80

Business Combinations - Sched56

Business Combinations - Schedule of Intangible Assets with Finite Lives (Parenthetical) (Details) - TNT Express Intangible [Member]	12 Months Ended
	May 31, 2018
Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Finite-lived assets useful life	12 years
Technology [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Finite-lived assets useful life	3 years
Trademarks [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Finite-lived assets useful life	4 years

Business Combinations - Busines

Business Combinations - Business Acquisition Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2016	May 31, 2015
Business Acquisition Pro Forma Information Abstract
Consolidated revenues	$ 57,899	$ 55,862
Consolidated net income	$ 1,600	$ 638
Diluted earnings per share	$ 5.73	$ 2.22

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions		12 Months Ended
		May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2016
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					$ 8,057
Accumulated impairment charges				$ (1,684)	(1,310)
GOODWILL		$ 6,973	$ 7,154	6,973	6,747
Goodwill Roll Forward
Beginning Goodwill at May 31		7,154	6,747
Goodwill acquired	[1]	125
Purchase adjustments and other	[2]	68	407
Impairment charges	[3]	(374)
Ending Goodwill at May 31		6,973	7,154
Accumulated impairment charges				(1,684)	(1,310)
Corporate, Other and Eliminations [Member]
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					395
Accumulated impairment charges				(374)
GOODWILL		395	395	51	395
Goodwill Roll Forward
Beginning Goodwill at May 31		395	395
Goodwill acquired	[1]	32
Purchase adjustments and other	[2]	(2)
Impairment charges	[3]	(374)
Ending Goodwill at May 31		51	395
Accumulated impairment charges				(374)
FedEx Express Segment [Member]
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					4,546
GOODWILL		4,953	4,546	5,100	4,546
Goodwill Roll Forward
Beginning Goodwill at May 31		4,953	4,546
Goodwill acquired	[1]	76
Purchase adjustments and other	[2]	71	407
Ending Goodwill at May 31		5,100	4,953
FedEx Ground Segment [Member]
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					827
GOODWILL		827	827	840	827
Goodwill Roll Forward
Beginning Goodwill at May 31		827	827
Goodwill acquired	[1]	14
Purchase adjustments and other	[2]	(1)
Ending Goodwill at May 31		840	827
FedEx Freight Segment [Member]
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					764
Accumulated impairment charges				(133)	(133)
GOODWILL		631	631	634	631
Goodwill Roll Forward
Beginning Goodwill at May 31		631	631
Goodwill acquired	[1]	3
Ending Goodwill at May 31		634	631
Accumulated impairment charges				(133)	(133)
FedEx Services Segment [Member]
Net Goodwill Detail [Abstract]
Gross Goodwill at May 31					1,525
Accumulated impairment charges				(1,177)	(1,177)
GOODWILL		348	348	348	348
Goodwill Roll Forward
Beginning Goodwill at May 31		348	348
Ending Goodwill at May 31		$ 348	$ 348
Accumulated impairment charges				$ (1,177)	$ (1,177)
[1]	Goodwill acquired relates to the acquisitions of Northwest Research, Inc. and P2P Mailing Limited. See Note 3 for more information.
[2]	Primarily purchase-related adjustments, currency translation adjustments, and acquired goodwill related to immaterial acquisitions.
[3]	Impairment charges related to the goodwill impairment of FedEx Supply Chain described below.

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)		12 Months Ended
		May 31, 2018	May 31, 2017	May 31, 2016
Goodwill [Line Items]
Goodwill impairment charges	[1]	$ 374,000,000
Other impairments of goodwill		0	$ 0	$ 0
Intangible assets amortization expense		87,000,000	$ 91,000,000	$ 14,000,000
Corporate, Other and Eliminations [Member]
Goodwill [Line Items]
Goodwill impairment charges	[1]	$ 374,000,000
[1]	Impairment charges related to the goodwill impairment of FedEx Supply Chain described below.

Goodwill and Other Intangible60

Goodwill and Other Intangible Assets - Schedule Of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 885	$ 846
Accumulated Amortization	(405)	(317)
Net Book Value	480	529
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	676	656
Accumulated Amortization	(250)	(203)
Net Book Value	426	453
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	68	54
Accumulated Amortization	(39)	(26)
Net Book Value	29	28
Trademarks and other [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	141	136
Accumulated Amortization	(116)	(88)
Net Book Value	$ 25	$ 48

Goodwill and Other Intangible61

Goodwill and Other Intangible Assets - Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Millions	May 31, 2018USD ($)
Finite Lived Intangible Assets Future Amortization Expense Abstract
2,019	$ 81
2,020	63
2,021	50
2,022	44
2,023	$ 42

Selected Current Liabilities (D

Selected Current Liabilities (Details) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Accrued Liabilities Current [Abstract]
Salaries	$ 498	$ 431
Employee benefits, including variable compensation	933	781
Compensated absences	746	702
Accrued salaries and employee benefits	2,177	1,914
Self-insurance accruals	957	976
Taxes other than income taxes	334	283
Other	1,840	1,971
Accrued expenses	$ 3,131	$ 3,230

Long-term Debt and Other Fina63

Long-term Debt and Other Financing Arrangements - Components of Long-term Debt (Net of Discounts and Debt Issuance Costs) (Details) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Debt Instrument [Line Items]
Long Term Debt	$ 16,510	$ 14,878
Other debt	4	9
Capital lease obligations	71	44
Total Debt and Capital Lease Obligations	16,585	14,931
Less current portion	1,342	22
LONG-TERM DEBT, LESS CURRENT PORTION	15,243	14,909
Senior Unsecured Debt Due 2019 8.00% [Member]
Debt Instrument [Line Items]
Long Term Debt	750	749
Senior Unsecured Debt Due 2020 2.30% [Member]
Debt Instrument [Line Items]
Long Term Debt	399	398
Senior Unsecured Debt Due 2023 2.625-2.70% [Member]
Debt Instrument [Line Items]
Long Term Debt	746	745
Senior Unsecured Debt Due 2024 4.00% [Member]
Debt Instrument [Line Items]
Long Term Debt	746	745
Senior Unsecured Debt Due 2025 3.20% [Member]
Debt Instrument [Line Items]
Long Term Debt	695	695
Senior Unsecured Debt Due 2026 3.25% [Member]
Debt Instrument [Line Items]
Long Term Debt	744	743
Senior Unsecured Debt Due 2027 3.30% [Member]
Debt Instrument [Line Items]
Long Term Debt	445	445
Senior Unsecured Debt Issued 2028 3.40% [Member]
Debt Instrument [Line Items]
Long Term Debt	495
Senior Unsecured Debt Due 2034 4.90% [Member]
Debt Instrument [Line Items]
Long Term Debt	495	495
Senior Unsecured Debt Due 2035 3.90% [Member]
Debt Instrument [Line Items]
Long Term Debt	493	493
Senior Unsecured Debt Due 2043 3.875-4.10% [Member]
Debt Instrument [Line Items]
Long Term Debt	983	983
Senior Unsecured Debt Due 2044 5.10% [Member]
Debt Instrument [Line Items]
Long Term Debt	742	742
Senior Unsecured Debt Due 2045 4.10% [Member]
Debt Instrument [Line Items]
Long Term Debt	640	640
Senior Unsecured Debt Due 2046 4.55-4.75% [Member]
Debt Instrument [Line Items]
Long Term Debt	2,459	2,458
Senior Unsecured Debt Due 2047 4.40% [Member]
Debt Instrument [Line Items]
Long Term Debt	735	734
Senior Unsecured Debt Due 2048 4.05% [Member]
Debt Instrument [Line Items]
Long Term Debt	986
Senior Unsecured Debt Due 2065 4.50% [Member]
Debt Instrument [Line Items]
Long Term Debt	246	246
Senior Unsecured Debt Due 2098 7.60% [Member]
Debt Instrument [Line Items]
Long Term Debt	237	237
Euro Senior Unsecured Debt Due 2019 floating rate [Member]
Debt Instrument [Line Items]
Long Term Debt	582	558
Euro Senior Unsecured Debt Due 2020 0.50% [Member]
Debt Instrument [Line Items]
Long Term Debt	581	557
Euro Senior Unsecured Debt Due 2023 1.00% [Member]
Debt Instrument [Line Items]
Long Term Debt	869	833
Euro Senior Unsecured Debt Due 2027 1.625% [Member]
Debt Instrument [Line Items]
Long Term Debt	$ 1,442	$ 1,382

Long-term Debt and Other Fina64

Long-term Debt and Other Financing Arrangements - Additional Information (Details) - USD ($)	Jan. 30, 2018	May 31, 2018	Nov. 30, 2017	May 31, 2017
Line Of Credit Facility [Line Items]
Long-term debt weighted average interest rate		3.60%
Long Term Debt Exclusive Of Capital Leases Fair Value		$ 16,600,000,000		$ 15,500,000,000
Line of Credit Facility, Expiration Date		Nov. 13, 2020
Letter of Credit Maximum Sublimit Amount		$ 500,000,000
Financial Covenant Terms Ratio		350.00%
Financial Covenant Compliance Ratio		200.00%
Letters Of Credit Outstanding		$ 54,000,000
Commercial paper outstanding		0
Letter of Credit Outstanding Sublimit Unused Amount		$ 446,000,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of Credit Facility, Term		5 years
Line Of Credit Facility Maximum Borrowing Capacity		$ 2,000,000,000	$ 1,750,000,000
Senior Unsecured Debt due February 2028 and February 2048 [Member]
Line Of Credit Facility [Line Items]
Senior Unsecured Debt Issued	$ 1,500,000,000
Senior Unsecured Debt, Frequency of Periodic Interest Payment		semiannually
3.40% Senior Unsecured Debt due February 2028 [Member]
Line Of Credit Facility [Line Items]
Senior Unsecured Debt Issued	$ 500,000,000
Senior Unsecured Debt, Fixed Interest Rate Percentage	3.40%
Senior Unsecured Debt, Maturity Date	Feb. 29, 2028
4.05% Senior Unsecured Debt due February 2048 [Member]
Line Of Credit Facility [Line Items]
Senior Unsecured Debt Issued	$ 1,000,000,000
Senior Unsecured Debt, Fixed Interest Rate Percentage	4.05%
Senior Unsecured Debt, Maturity Date	Feb. 29, 2048
EURIBOR [Member]
Line Of Credit Facility [Line Items]
Floating Rate Basis Points, Description		Our floating-rate euro senior notes bear interest at three-month EURIBOR plus a spread of 55 basis points and resets quarterly.
Floating Rate Basis Points		0.55%

Leases - Additional Information

Leases - Additional Information (Details)	12 Months Ended
	May 31, 2018	May 31, 2017
Other Lease Information (Details) [Abstract]
Capital and operating leases expiration term	Various dates through 2049
Percentage Total Aircraft Fleet Leased	7.00%	9.00%
Operating leases weighted-average remaining lease term	6 years

Leases - Schedule of Rent Expen

Leases - Schedule of Rent Expense Under Operating Leases (Details) - USD ($) $ in Millions		12 Months Ended
		May 31, 2018	May 31, 2017	May 31, 2016
Operating Leases Rent Expense [Abstract]
Minimum rentals		$ 2,913	$ 2,814	$ 2,394
Contingent rentals	[1]	194	178	214
Operating leases rent expense, total		$ 3,107	$ 2,992	$ 2,608
[1]	Contingent rentals are based on equipment usage.

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments, Operating Leases (Details) $ in Millions	May 31, 2018USD ($)
Schedule of Future Minimum Operating Lease Payments [Line Items]
2,019	$ 2,471
2,020	2,177
2,021	1,951
2,022	1,762
2,023	1,548
Thereafter	8,193
Total	18,102
Aircraft and Related Equipment [Member]
Schedule of Future Minimum Operating Lease Payments [Line Items]
2,019	343
2,020	261
2,021	203
2,022	185
2,023	127
Thereafter	48
Total	1,167
Facilities and Other [Member]
Schedule of Future Minimum Operating Lease Payments [Line Items]
2,019	2,128
2,020	1,916
2,021	1,748
2,022	1,577
2,023	1,421
Thereafter	8,145
Total	$ 16,935

Preferred Stock - Additional In

Preferred Stock - Additional Information (Details)	May 31, 2018$ / sharesshares
Preferred Stock Number Of Shares Par Value And Other Disclosures [Abstract]
Preferred Stock Shares Authorized	4,000,000
Preferred Stock Par Value | $ / shares	$ 0
Preferred Stock Shares Issued	0

Accumulated Other Comprehensi69

Accumulated Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ 16,073	$ 13,784	$ 14,993
Translation adjustments	(74)	(171)	(261)
Ending balance	19,416	16,073	13,784
Foreign Currency Translation Gain (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(685)	(514)	(253)
Translation adjustments	(74)	(171)	(261)
Ending balance	(759)	(685)	(514)
Retirement Plans Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	270	345	425
Prior service credit and other arising during period	(4)	1	(4)
Reclassifications from AOCI	(85)	(76)	(76)
Ending balance	181	270	345
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(415)	(169)	172
Ending balance	$ (578)	$ (415)	$ (169)

Accumulated Other Comprehensi70

Accumulated Other Comprehensive Income - Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Details) - Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Salaries and employee benefits	$ 121	$ 120	$ 121
Provision for income taxes	(36)	(44)	(45)
Net income	$ 85	$ 76	$ 76

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]
Stock-based compensation expense	$ 167	$ 154	$ 144

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share Based Compensation Arrangement Stock Options [Abstract]
Stock option vesting period range	one to four years
Percentage of options vesting ratably over four years	82.00%
Restricted stock expiration period	ratably over a four-year period
Stock-based compensation, key assumptions of valuation method	Black-Scholes
Maximum term of stock options	10 years
Restricted stock granted	155,624	153,984	139,838
Restricted stock, weighted-average fair value	$ 212.60	$ 166.12	$ 168.83
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Abstract
Total unrecognized compensation cost, net of estimated forfeitures	$ 211
Stock option remaining weighted average vesting period	2 years
Ratio Of Outstanding And Available To Grant Shares To Total Outstanding Common And Equity Compensation Shares And Equity Compensation Shares Available For Grant [Abstract]
Ratio Of Outstanding And Available To Grant Shares To Total Outstanding Common And Equity Compensation Shares And Equity Compensation Shares Available For Grant	10.00%

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Based Compensation Key Assumptions for Valuation (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract]
Weighted-average Black-Scholes value	$ 55.72	$ 43.99	$ 52.40
Intrinsic value of options exercised	$ 359	$ 274	$ 115
Expected lives	6 years 6 months	6 years 6 months	6 years 4 months 24 days
Expected volatility	23.00%	25.00%	28.00%
Risk-free interest rate	2.07%	1.64%	1.94%
Dividend yield	0.796%	0.719%	0.519%

Stock-Based Compensation - Sc74

Stock-Based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2018USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Stock Options, Outstanding at June 1, 2017	13,598,699
Stock Options, Granted	2,778,238
Stock Options, Exercised	(2,975,835)
Stock Options, Forfeited	(416,185)
Stock Options, Outstanding at May 31, 2018	12,984,917
Stock Options, Exercisable	7,303,111
Stock Options, Expected to vest	5,382,943
Stock Options, Available for future grants	15,788,701
Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Exercise Price [Abstract]
Weighted-Average Exercise Price, Outstanding at June 1, 2017 | $ / shares	$ 125.66
Weighted-Average Exercise Price, Granted | $ / shares	221.15
Weighted-Average Exercise Price, Exercised | $ / shares	109.95
Weighted-Average Exercise Price, Forfeited | $ / shares	178.75
Weighted-Average Exercise Price, Outstanding at May 31, 2018 | $ / shares	147.98
Weighted-Average Exercise Price, Exercisable | $ / shares	113.12
Weighted-Average Exercise Price, Expected to vest | $ / shares	$ 192.79
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term (in years) [Abstract]
Weighted-Average Remaining Contractual Term, Outstanding at May 31, 2018	6 years 3 months 18 days
Weighted-Average Remaining Contractual Term, Exercisable	4 years 8 months 12 days
Weighted-Average Remaining Contractual Term, Expected to vest	8 years 3 months 18 days
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures Abstract
Aggregate Intrinsic Value, Outstanding at May 31, 2017 | $	$ 1,326	[1]
Aggregate Intrinsic Value, Exercisable | $	993	[1]
Aggregate Intrinsic Value, Expected to vest | $	$ 315	[1]
[1]	Only presented for options with market value at May 31, 2018 in excess of the exercise price of the option.

Stock-Based Compensation - Sc75

Stock-Based Compensation - Schedule of Vested and Unvested Restricted Stock (Details) - $ / shares	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward
Restricted Stock, Unvested at June 1, 2017	362,304
Restricted Stock, Granted	155,624	153,984	139,838
Restricted Stock, Vested	(177,264)
Restricted Stock, Forfeited	(3,074)
Restricted Stock, Unvested at May 31, 2018	337,590	362,304
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value Roll Forward
Weighted-Average Grant Date Fair Value, Unvested at June 1, 2017	$ 155.53
Weighted-Average Grant Date Fair Value, Granted	212.60	$ 166.12	$ 168.83
Weighted-Average Grant Date Fair Value, Vested	148.94
Weighted-Average Grant Date Fair Value, Forfeited	148.95
Weighted-Average Grant Date Fair Value, Unvested at May 31, 2018	$ 185.16	$ 155.53

Stock-Based Compensation - Sc76

Stock-Based Compensation - Schedule of Stock Option Vesting (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures Abstract
Vested during the year	2,465,493	2,427,837	2,572,129
Fair value	$ 112	$ 104	$ 98

Computation of Earnings Per S77

Computation of Earnings Per Share - Schedule of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended																12 Months Ended
		May 31, 2018	[2],[3]	Feb. 28, 2018	[2],[3]	Nov. 30, 2017	[2],[3]	Aug. 31, 2017	[2],[3]	May 31, 2017	[3],[4]	Feb. 28, 2017	[3],[4]	Nov. 30, 2016	[3],[4]	Aug. 31, 2016	[3],[4]	May 31, 2018	May 31, 2017	May 31, 2016
Basic earnings per common share:
Net earnings allocable to common shares	[1]																	$ 4,566	$ 2,993	$ 1,818
Weighted-average common shares																		267	266	276
Basic earnings per common share		$ 4.23		$ 7.74		$ 2.89		$ 2.22		$ 3.81		$ 2.11		$ 2.63		$ 2.69		$ 17.08	$ 11.24	$ 6.59
Diluted earnings per common share:
Net earnings allocable to common shares	[1]																	$ 4,566	$ 2,993	$ 1,818
Weighted-average common shares																		267	266	276
Dilutive effect of share-based awards																		5	4	3
Weighted-average diluted shares																		272	270	279
Diluted earnings per common share		$ 4.15		$ 7.59		$ 2.84		$ 2.19		$ 3.75		$ 2.07		$ 2.59		$ 2.65		$ 16.79	$ 11.07	$ 6.51
Anti-dilutive options excluded from diluted earnings per common share																		2.5	4.5	3.9
[1]	Net earnings available to participating securities were immaterial in all periods presented.
[2]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[3]	The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective periods.
[4]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Current provision
Federal	$ (540)	$ 269	$ 513
State and local	43	88	72
Foreign	461	285	200
Current Provision, Total	(36)	642	785
Deferred provision (benefit)
Federal	271	989	155
State and local	125	59	(18)
Foreign	(579)	(108)	(2)
Deferred Provision, Total	(183)	940	135
Provision for Income Taxes, Total	$ (219)	$ 1,582	$ 920

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			5 Months Ended	7 Months Ended	12 Months Ended
	Feb. 28, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2018	Dec. 31, 2017	May 31, 2018		May 31, 2017		May 31, 2016
Income Taxes [Line Items]
Earnings From Foreign Operations							$ 958		$ 919		$ 905
Statutory Federal Income Tax Rate					21.00%	35.00%	29.20%		35.00%		35.00%
Provisional benefit related to remeasurement of net U.S. deferred tax liability	$ (1,150)		$ (1,150)				$ (1,150)
Income tax benefit related to lower statutory Income tax rate on earnings		$ 100	165				265
Tax benefit from corporate structuring transactions		(255)					255	[1]	$ 68	[1]	$ 76	[1]
Tax benefits from foreign tax credits		133	12	$ 80			$ 225
Measurement period							1 year
Unrecognized Tax Benefits That Would Impact Effective Tax Rate		142			$ 142		$ 142		63
Unrecognized Tax Benefits Accrued Income Tax Penalties And Interest		$ 35			$ 35		35		11
Foreign Country [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards									3,600
State And Local Jurisdiction [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards									770
Adoption of U.S. Foreign Currency Tax Regulations [Member]
Income Taxes [Line Items]
Impact on tax rate, amount									62
U.S. Plans [Member]
Income Taxes [Line Items]
Additional provisional amount recognized one time benefit	204		204
Benefit of contribution	$ 1,500		$ 1,500				$ 2,500		$ 2,000
[1]	The 2018 and 2017 net benefits consist of foreign deferred tax benefits of $434 million and $94 million, respectively, which were partially offset by U.S. deferred tax expenses of $179 million and $26 million, respectively.

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Total Income Tax Expense and Amount Computed by Statutory Federal Income Tax Rate to Income Before Taxes (Details) - USD ($) $ in Millions		3 Months Ended			12 Months Ended
		May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2018		May 31, 2017		May 31, 2016
Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation [Abstract]
Taxes computed at federal statutory rate					$ 1,271		$ 1,603		$ 959
Goodwill impairment charge					109
State and local income taxes, net of federal benefit					119		99		33
Foreign operations					43		(19)		(50)
Corporate structuring transactions		$ 255			(255)	[1]	(68)	[1]	(76)	[1]
Tax Cuts and Jobs Act	[2]				(1,357)
Foreign tax credits from distributions		$ (133)	$ (12)	$ (80)	(225)
Uncertain tax positions					86
TNT Express integration and acquisition costs					20		25		40
Other, net	[3]				(30)		(58)		14
Provision for Income Taxes, Total					$ (219)		$ 1,582		$ 920
Effective Tax Rate					(5.00%)		34.60%		33.60%
[1]	The 2018 and 2017 net benefits consist of foreign deferred tax benefits of $434 million and $94 million, respectively, which were partially offset by U.S. deferred tax expenses of $179 million and $26 million, respectively.
[2]	Primary components are a $1.15 billion benefit from the remeasurement of our net U.S. deferred tax liability and a $204 million one-time benefit from a contribution to our U.S. Pensions Plans in February 2018.
[3]	Includes benefits from share-based payments of $60 million and $55 million in 2018 and 2017, respectively.

Income Taxes - Schedule of Re81

Income Taxes - Schedule of Reconciliation of Total Income Tax Expense and Amount Computed by Statutory Federal Income Tax Rate to Income Before Taxes (Parenthetical) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2018	May 31, 2018	May 31, 2017	May 31, 2016
Income Taxes [Line Items]
Foreign deferred tax benefits			$ (579)	$ (108)	$ (2)
U.S. deferred tax expenses			271	989	$ 155
Provisional benefit related to remeasurement of net U.S. deferred tax liability	$ (1,150)	$ (1,150)	(1,150)
Benefits from share-based payments			60	55
U.S. Plans [Member]
Income Taxes [Line Items]
Additional provisional amount recognized one time benefit	$ 204	$ 204
Corporate Structuring Transactions [Member]
Income Taxes [Line Items]
Foreign deferred tax benefits			434	94
U.S. deferred tax expenses			$ 179	$ 26

Income Taxes - Schedule of Sign

Income Taxes - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Components Of Deferred Tax Assets And Liabilities [Abstract]
Property, equipment, leases and intangibles	$ 752	$ 124
Employee benefits	595	1,951
Self-insurance accruals	494	745
Other	416	692
Net operating loss/credit carryforwards	1,146	1,069
Valuation allowances	(711)	(738)
Deferred Tax Assets, Net	2,692	3,843
Property, equipment, leases and intangibles	3,663	4,993
Employee benefits	31
Other	602	660
Deferred Tax Liabilities	$ 4,296	$ 5,653

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Deferred Tax Liabilities (Details) - USD ($) $ in Millions		May 31, 2018	May 31, 2017
Deferred Tax Assets Liabilities Net [Abstract]
Noncurrent deferred tax assets	[1]	$ 1,263	$ 675
Noncurrent deferred tax liabilities		(2,867)	(2,485)
Net deferred tax liabilities		$ (1,604)	$ (1,810)
[1]	Noncurrent deferred tax assets are included in the line item “Other Assets” in our consolidated balance sheets.

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward
Balance at beginning of year	$ 67	$ 49	$ 36
Increases for tax positions taken in the current year	3		3
Increases for tax positions taken in prior years	103	8	3
Increase for business acquisition		17	25
Decreases for tax positions taken in prior years	(10)	(1)	(5)
Settlements	(2)	(4)	(4)
Decreases from lapse of statute of limitations		(2)	(7)
Changes due to currency translation			(2)
Balance at end of year	$ 161	$ 67	$ 49

Retirement Plans - Summary of R

Retirement Plans - Summary of Retirement Plan Costs (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	May 31, 2016
Pension And Other Postretirement Benefit Expense [Abstract]
Defined benefit pension plans			$ 150	$ 234	$ 214
Defined contribution plans			527	480	416
Postretirement healthcare plans			74	76	82
Retirement plans mark-to-market (gain) loss	$ (10)	$ (24)	(10)	(24)	1,498
Retirement plans costs			$ 741	$ 766	$ 2,210

Retirement Plans - Schedule of

Retirement Plans - Schedule of MTM Adjustments (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	May 31, 2016
Actuarial Gain Loss By Component Pre Tax [Abstract]
Discount rate changes			$ (613)	$ 266	$ 1,129
Demographic assumption experience			382	450	(916)
Annuity contract purchase			210
Actual versus expected return on assets			11	(740)	1,285
Total mark-to-market (gain) loss	$ (10)	$ (24)	$ (10)	$ (24)	$ 1,498

Retirement Plans - Additional I

Retirement Plans - Additional Information (Details)	1 Months Ended			3 Months Ended	12 Months Ended
	May 31, 2018USD ($)RetireeandBeneficiary	Feb. 28, 2018USD ($)	May 31, 2017USD ($)Employee	Feb. 28, 2018USD ($)	May 31, 2019USD ($)	May 31, 2018USD ($)	May 31, 2017USD ($)	May 31, 2016	May 31, 2015
Defined Benefit Plan Disclosure [Line Items]
U.S. pension plan actual rate of return on assets						6.30%	9.20%	0.90%
Weighted average discount rate percent all pension postretirement plans						4.11%	3.98%	4.04%	4.38%
Actual rate of return on plan assets for the 15-year period						8.20%
Defined benefit plan health care cost trend rate assumed for next fiscal year	6.30%					6.30%
Defined benefit plan ultimate health care cost trend rate	4.50%					4.50%
Defined benefit plan year that rate reaches ultimate trend rate						2,037
Metropolitan Life Insurance Company
Defined Benefit Plan Disclosure [Line Items]
One-time settlement loss	$ 210,000,000
U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Contributions By Employer		$ 1,500,000,000		$ 1,500,000,000		$ 2,500,000,000	$ 2,000,000,000
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets						6.50%	6.50%	6.50%
Pension Plans [Member] | Scenario Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets					6.75%
Pension Plans [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets						6.50%	6.50%	6.50%
Number of former employees elected to receive lump sum distribution | Employee			18,300
Lump sum amount paid to former employees			$ 1,300,000,000
Group annuity contract and transfer						$ 6,178,000,000
Defined Benefit Plan Contributions By Employer						$ 2,547,000,000	$ 2,020,000,000
Pension Plans [Member] | U.S. Plans [Member] | Scenario Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Contributions By Employer					$ 0
Pension Plans [Member] | U.S. Plans [Member] | Metropolitan Life Insurance Company
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan responsibility transferred to number of retirees and beneficiaries | RetireeandBeneficiary	41,000
Group annuity contract and transfer	$ 6,000,000,000

Retirement Plans - Schedule o88

Retirement Plans - Schedule of Weighted Average Actuarial Assumptions Used to Determine the Benefit Obligations and Net Periodic Benefit Cost of our Plans (Details)	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Pension Plans [Member]
Defined Benefit Plan Assumptions Used In Calculations [Abstract]
Expected long-term rate of return on assets	6.50%	6.50%	6.50%
Pension Plans [Member] | U.S. Plans [Member]
Defined Benefit Plan Assumptions Used In Calculations [Abstract]
Discount rate used to determine benefit obligation	4.27%	4.08%	4.13%
Discount rate used to determine net periodic benefit cost	4.08%	4.13%	4.42%
Rate of increase in future compensation levels used to determine benefit obligation	4.43%	4.47%	4.46%
Rate of increase in future compensation levels used to determine net periodic benefit cost	4.47%	4.46%	4.62%
Expected long-term rate of return on assets	6.50%	6.50%	6.50%
Pension Plans [Member] | International Plans [Member]
Defined Benefit Plan Assumptions Used In Calculations [Abstract]
Discount rate used to determine benefit obligation	2.37%	2.43%	2.46%
Discount rate used to determine net periodic benefit cost	2.43%	2.46%	2.95%
Rate of increase in future compensation levels used to determine benefit obligation	2.26%	2.42%	2.82%
Rate of increase in future compensation levels used to determine net periodic benefit cost	2.42%	2.82%	3.19%
Expected long-term rate of return on assets	3.09%	3.18%	3.68%
Postretirement Healthcare Plans [Member]
Defined Benefit Plan Assumptions Used In Calculations [Abstract]
Discount rate used to determine benefit obligation	4.33%	4.32%	4.43%
Discount rate used to determine net periodic benefit cost	4.32%	4.43%	4.62%

Retirement Plans - Schedule o89

Retirement Plans - Schedule of Weighted-Average Asset Allocations for U.S Pension Plans and International Pension Plans (Details) - Pension Plans [Member] - USD ($) $ in Millions		May 31, 2018	May 31, 2017	May 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 23,566	$ 26,312
U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 22,057	$ 24,933	$ 23,017
Actual %		100.00%	100.00%
International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 1,509	$ 1,379	1,254
Portion of Fair Value of Plan Assets		$ 1,320	$ 1,206
Actual %		100.00%	100.00%
Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 4,258	$ 4,429
Fair Value Inputs Level 1 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		104	95
Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		10,164	12,955
Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		418	398
Fair Value Inputs Level 3 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		209	129	$ 48
Cash And Cash Equivalents [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 714	$ 1,076
Actual %		3.00%	4.00%
Cash And Cash Equivalents [Member] | U.S. Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	0.00%	0.00%
Cash And Cash Equivalents [Member] | U.S. Plans [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	5.00%	5.00%
Cash And Cash Equivalents [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		$ 24	$ 48
Actual %		2.00%	4.00%
Cash And Cash Equivalents [Member] | Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 19	$ 26
Cash And Cash Equivalents [Member] | Fair Value Inputs Level 1 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		2	2
Cash And Cash Equivalents [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		695	1,050
Cash And Cash Equivalents [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		22	46
U.S. Large Cap Equity [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 2,449	$ 2,415
Actual %	[2]	11.00%	10.00%
U.S. Large Cap Equity [Member] | Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 840	$ 830
International Equity Securities [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 3,506	$ 3,521
Actual %	[2]	16.00%	14.00%
International Equity Securities [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 146	$ 137
Actual %	[2]	11.00%	11.00%
International Equity Securities [Member] | Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 2,681	$ 2,747
International Equity Securities [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	172	157
International Equity Securities [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	70	72
Global Equity Funds [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 1,772	$ 3,276
Actual %	[2]	8.00%	13.00%
Global Equity Funds [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 228	$ 202
Actual %	[2]	17.00%	17.00%
U.S. SMID Cap Equity [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 780	$ 987
Actual %		4.00%	4.00%
U.S. SMID Cap Equity [Member] | Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 780	$ 987
Corporate Fixed Income Securities [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 5,834	$ 8,163
Actual %		26.00%	33.00%
Corporate Fixed Income Securities [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 306	$ 270
Actual %	[2]	23.00%	22.00%
Corporate Fixed Income Securities [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets		$ 5,834	$ 8,163
Corporate Fixed Income Securities [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	68	49
Government Fixed Income Securities [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 4,872	$ 4,674
Actual %	[2]	22.00%	19.00%
Government Fixed Income Securities [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 452	$ 405
Actual %	[2]	34.00%	34.00%
Government Fixed Income Securities [Member] | Fair Value Inputs Level 1 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 108	$ 95
Government Fixed Income Securities [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	3,345	3,454
Government Fixed Income Securities [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	256	230
Mortgage Backed And Other Fixed Income Securities [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 626	$ 603
Actual %	[2]	3.00%	2.00%
Mortgage Backed And Other Fixed Income Securities [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets	[2]	$ 168	$ 145
Actual %	[2]	13.00%	12.00%
Mortgage Backed And Other Fixed Income Securities [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 125	$ 129
Alternative investments [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	$ 1,573	$ 377
Actual %	[2]	7.00%	2.00%
Alternative investments [Member] | U.S. Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1],[2]	0.00%	0.00%
Alternative investments [Member] | U.S. Plans [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1],[2]	10.00%	5.00%
Alternative investments [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		$ 19	$ 17
Actual %		2.00%	1.00%
Alternative investments [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Assets		$ 19	$ 17
Alternative investments [Member] | Fair Value Inputs Level 3 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets	[2]	209	129
Other [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Liabilities		(69)	$ (159)
Actual %			(1.00%)
Other [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Liabilities		$ (23)	$ (18)
Actual %		(2.00%)	(1.00%)
Other [Member] | Fair Value Inputs Level 1 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Liabilities		$ (62)	$ (161)
Other [Member] | Fair Value Inputs Level 1 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Liabilities		(6)	(2)
Other [Member] | Fair Value Inputs Level 2 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Plan Assets			2
Fair Value of Plan Liabilities		(7)
Other [Member] | Fair Value Inputs Level 2 [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Portion of Fair Value of Plan Liabilities		$ (17)	$ (16)
Total Equities [Member] | U.S. Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	30.00%	30.00%
Total Equities [Member] | U.S. Plans [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	50.00%	50.00%
Total Fixed Income Securities [Member] | U.S. Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	50.00%	50.00%
Total Fixed Income Securities [Member] | U.S. Plans [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target %	[1]	70.00%	70.00%
[1]	Target ranges have not been provided for international plan assets as they are managed at an individual country level.
[2]	Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total.

Retirement Plans - Schedule o90

Retirement Plans - Schedule of Change in Fair Value of Level 3 Assets (Details) - Pension Plans [Member] - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	$ 26,312
Actual return on plan assets:
Balance at end of year	23,566	$ 26,312
U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	24,933	23,017
Actual return on plan assets:
Balance at end of year	22,057	24,933
Fair Value Inputs Level 3 [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at beginning of year	129	48
Actual return on plan assets:
Assets held during current year	8	5
Assets sold during the year	4	1
Purchases, sales and settlements	68	75
Balance at end of year	$ 209	$ 129

Retirement Plans - Reconciliati

Retirement Plans - Reconciliation of Changes In Pension And Postretirement Healthcare Plans Benefit Obligations And Fair Value Of Assets (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2018	May 31, 2018	May 31, 2017	May 31, 2016
U.S. Plans [Member]
Change in Plan Assets
Company contributions	$ 1,500	$ 1,500	$ 2,500	$ 2,000
Pension Plans [Member]
Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”)
PBO/APBO at the beginning of year			29,913
PBO/APBO at the end of year			24,820	29,913
Change in Plan Assets
Balance at beginning of year			26,312
Balance at end of year			23,566	26,312
Funded Status of the Plans			(1,254)	(3,601)
Pension Plans [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation (“ABO”)			22,029	27,244
Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”)
PBO/APBO at the beginning of year			27,870	27,804
Service cost			679	638	$ 622
Interest cost			1,115	1,128	1,155
Actuarial loss			21	571
Benefits paid			(854)	(2,271)
Settlements			(6,178)
PBO/APBO at the end of year			22,653	27,870	27,804
Change in Plan Assets
Balance at beginning of year			24,933	23,017
Actual return on plan assets			1,609	2,167
Company contributions			2,547	2,020
Benefits paid			(854)	(2,271)
Settlements			(6,178)
Balance at end of year			22,057	24,933	23,017
Funded Status of the Plans			(596)	(2,937)
Amount Recognized in the Balance Sheet at May 31:
Current pension, postretirement healthcare and other benefit obligations			(22)	(33)
Noncurrent pension, postretirement healthcare and other benefit obligations			(574)	(2,904)
Net amount recognized			(596)	(2,937)
Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost:
Prior service (credit) cost and other			(292)	(410)
Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year Abstract
Prior service credit and other			(118)	(118)
Pension Plans [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation (“ABO”)			1,956	1,842
Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”)
PBO/APBO at the beginning of year			2,043	1,798
Service cost			97	83	40
Interest cost			49	43	25
Actuarial loss			(34)	161
Benefits paid			(46)	(38)
Settlements			(5)	(7)
Purchase accounting adjustment				26
Other			63	(23)
PBO/APBO at the end of year			2,167	2,043	1,798
Change in Plan Assets
Balance at beginning of year			1,379	1,254
Actual return on plan assets			49	112
Company contributions			84	95
Benefits paid			(46)	(38)
Settlements			(5)	(7)
Other			48	(37)
Balance at end of year			1,509	1,379	1,254
Funded Status of the Plans			(658)	(664)
Amount Recognized in the Balance Sheet at May 31:
Noncurrent asset			73	40
Current pension, postretirement healthcare and other benefit obligations			(16)	(17)
Noncurrent pension, postretirement healthcare and other benefit obligations			(715)	(687)
Net amount recognized			(658)	(664)
Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost:
Prior service (credit) cost and other			(10)	(13)
Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year Abstract
Prior service credit and other			(2)	(2)
Postretirement Healthcare Plans [Member]
Changes in Projected Benefit Obligation (“PBO”) and Accumulated Postretirement Benefit Obligation (“APBO”)
PBO/APBO at the beginning of year			927	905
Service cost			36	36	40
Interest cost			39	39	42
Actuarial loss			(9)	(14)
Benefits paid			(80)	(72)
Other			42	33
PBO/APBO at the end of year			955	927	$ 905
Change in Plan Assets
Company contributions			42	36
Benefits paid			(80)	(72)
Other			38	36
Funded Status of the Plans			(955)	(927)
Amount Recognized in the Balance Sheet at May 31:
Current pension, postretirement healthcare and other benefit obligations			(62)	(39)
Noncurrent pension, postretirement healthcare and other benefit obligations			(893)	(888)
Net amount recognized			(955)	(927)
Amounts Recognized in AOCI and not yet reflected in Net Periodic Benefit Cost:
Prior service (credit) cost and other			$ 2	$ (4)

Retirement Plans - Schedule o92

Retirement Plans - Schedule of Components of Pension Plans (Details) - Pension Plans [Member] - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation ("PBO")	$ 24,820	$ 29,913
Fair Value of Plan Assets	23,566	26,312
Funded Status	(1,254)	(3,601)
Qualified [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation ("PBO")	22,413	27,600
Fair Value of Plan Assets	22,057	24,933
Funded Status	(356)	(2,667)
Nonqualified [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation ("PBO")	240	270
Funded Status	(240)	(270)
International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation ("PBO")	2,167	2,043
Fair Value of Plan Assets	1,509	1,379
Funded Status	$ (658)	$ (664)

Retirement Plans - Schedule o93

Retirement Plans - Schedule of Fair Value of Plan Assets for Pension Plans with a PBO or ABO in Excess of Plan Assets (Details) - Pension Plans [Member] - USD ($) $ in Millions		May 31, 2018	May 31, 2017
U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 22,057	$ 24,933
PBO		(22,653)	(27,870)
Net funded status		(596)	(2,937)
ABO	[1]	(1,134)	(27,244)
Fair value of plan assets		859	24,933
PBO		(1,214)	(27,870)
Net funded status		(355)	(2,937)
International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,060	952
PBO		(1,791)	(1,656)
Net funded status		(731)	(704)
ABO	[1]	(1,581)	(1,433)
Fair value of plan assets		1,060	928
PBO		(1,791)	(1,626)
Net funded status		$ (731)	$ (698)
[1]	ABO not used in determination of funded status.

Retirement Plans - Schedule o94

Retirement Plans - Schedule of Pension Plans Contributions (Details) - U.S. Plans [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2018	May 31, 2018	May 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Contributions By Employer	$ 1,500	$ 1,500	$ 2,500	$ 2,000
Required Contribution [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Contributions By Employer			22	459
Voluntary Contribution [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Contributions By Employer			$ 2,478	$ 1,541

Retirement Plans - Schedule o95

Retirement Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Pension Plans [Member] | U.S. Plans [Member]
Net Periodic Benefit Cost
Service cost	$ 679	$ 638	$ 622
Interest cost	1,115	1,128	1,155
Expected return on plan assets	(1,624)	(1,501)	(1,490)
Amortization of prior service credit	(118)	(118)	(118)
Actuarial losses (gains) and other	37	(95)	1,563
Net periodic benefit cost	89	52	1,732
Pension Plans [Member] | International Plans [Member]
Net Periodic Benefit Cost
Service cost	97	83	40
Interest cost	49	43	25
Expected return on plan assets	(46)	(38)	(18)
Amortization of prior service credit	(2)	(2)	(3)
Actuarial losses (gains) and other	(38)	87	(1)
Net periodic benefit cost	60	173	43
Postretirement Healthcare Plans [Member]
Net Periodic Benefit Cost
Service cost	36	36	40
Interest cost	39	39	42
Amortization of prior service credit	(1)
Actuarial losses (gains) and other	(9)	(14)	(64)
Net periodic benefit cost	$ 65	$ 61	$ 18

Retirement Plans - Schedule o96

Retirement Plans - Schedule of Amounts Recognized in Other Comprehensive Income ("OCI") for All Plans (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	$ 89	$ 75	$ 80
Pension Plans [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax	118	118
Total recognized in OCI, Gross Amount	118	118
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	83	74
Total recognized in OCI, Net of Tax Amount	83	74
Pension Plans [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net (gain) loss and other arising during period, Gross Amount		1
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax	2	2
Total recognized in OCI, Gross Amount	2	3
Net (gain) loss and other arising during period, Net of Tax Amount		1
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	1	2
Total recognized in OCI, Net of Tax Amount	1	3
Postretirement Healthcare Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net (gain) loss and other arising during period, Gross Amount	5	(3)
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax	1
Total recognized in OCI, Gross Amount	6	(3)
Net (gain) loss and other arising during period, Net of Tax Amount	4	(2)
Other Comprehensive Income Loss Amortization Adjustment From AOCI Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax	1
Total recognized in OCI, Net of Tax Amount	$ 5	$ (2)

Retirement Plans - Schedule o97

Retirement Plans - Schedule of Expected Future Benefit Payments (Details) $ in Millions	May 31, 2018USD ($)
Pension Plans [Member] | U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2,019	$ 680
2,020	781
2,021	846
2,022	951
2,023	1,071
2024-2028	7,325
Pension Plans [Member] | International Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2,019	48
2,020	48
2,021	54
2,022	71
2,023	79
2024-2028	428
Postretirement Healthcare Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2,019	62
2,020	65
2,021	69
2,022	73
2,023	76
2024-2028	$ 369

Business Segment Information -

Business Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions		3 Months Ended																12 Months Ended
		May 31, 2018		Feb. 28, 2018	[1]	Nov. 30, 2017	[1]	Aug. 31, 2017	[1]	May 31, 2017		Feb. 28, 2017	[2]	Nov. 30, 2016	[2]	Aug. 31, 2016	[2]	May 31, 2018		May 31, 2017		May 31, 2016
Segment Reporting Information [Line Items]
Revenues		$ 17,314	[1]	$ 16,526		$ 16,313		$ 15,297		$ 15,728	[2]	$ 14,997		$ 14,931		$ 14,663		$ 65,450	[3]	$ 60,319	[3]	$ 50,365	[3]
Depreciation and amortization																		3,095		2,995		2,631
Operating income		1,490	[1]	$ 1,001		$ 1,262		$ 1,117		1,581	[2]	$ 1,025		$ 1,167		$ 1,264		4,870	[4]	5,037	[5]	3,077	[6]
Segment assets	[7]	52,330								48,552								52,330		48,552		45,959
Capital expenditures																		5,663		5,116		4,818
FedEx Express Segment [Member]
Segment Reporting Information [Line Items]
Revenues																		36,172		33,824		25,553
Depreciation and amortization																		1,679		1,662		1,377
Operating income																		2,578	[4]	2,769	[5]	2,485	[6]
Segment assets	[7]	31,753								31,307								31,753		31,307		20,798
Capital expenditures																		3,461		2,725		2,350
FedEx Ground Segment [Member]
Segment Reporting Information [Line Items]
Revenues																		18,395		16,503		15,051
Depreciation and amortization																		681		627		556
Operating income																		2,605	[4]	2,279	[5]	2,240	[6]
Segment assets	[7]	15,458								12,969								15,458		12,969		11,407
Capital expenditures																		1,178		1,490		1,556
FedEx Freight Segment [Member]
Segment Reporting Information [Line Items]
Revenues																		6,812		6,070		5,825
Depreciation and amortization																		296		265		244
Operating income																		517	[4]	390	[5]	421	[6]
Segment assets	[7]	7,389								6,527								7,389		6,527		6,104
Capital expenditures																		490		431		428
FedEx Services Segment [Member]
Segment Reporting Information [Line Items]
Revenues																		1,650		1,621		1,593
Depreciation and amortization																		382		371		384
Segment assets	[7]	6,377								5,682								6,377		5,682		5,390
Capital expenditures																		477		416		432
Corporate, Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	[8]																	2,421		2,301		2,343
Depreciation and amortization	[8]																	57		70		70
Operating income	[8]																	(830)	[4]	(401)	[5]	(2,069)	[6]
Segment assets	[7],[8]	$ (8,647)								$ (7,933)								(8,647)		(7,933)		2,260
Capital expenditures																		$ 57		$ 54		$ 52
[1]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[2]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[3]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[4]	Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.
[5]	Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.
[6]	Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.
[7]	Segment assets include intercompany receivables.
[8]	Includes TNT Express’s assets and immaterial financial results for 2016 from the time of acquisition (May 25, 2016).

Business Segment Information 99

Business Segment Information - Schedule of Segment Information (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	May 31, 2016
Segment Reporting Information [Line Items]
TNT express integration expenses and restructuring charges			$ 477	$ 327
MTM retirement plans accounting adjustment	$ (10)	$ (24)	(10)	(24)	$ 1,498
Goodwill and other asset impairment charges	$ 380		380
Charges for legal reserves related to U.S. CBP pending protection matters		39		39
Ground independent contractor litigation expense		$ 22		22
U.S. CBP notice of action involving FedEx Trade Networks settlement					69
Ground independent contractor litigation provision					256
TNT acquisition [Member]
Segment Reporting Information [Line Items]
Transaction and integration planning expenses					113
Corporate, Other and Eliminations [Member]
Segment Reporting Information [Line Items]
MTM retirement plans accounting adjustment			(10)	$ (24)	$ 1,500
TNT Express [Member]
Segment Reporting Information [Line Items]
Goodwill and other asset impairment charges			$ 380

Business Segment Information100

Business Segment Information - Schedule of Revenue by Service Type (Details) - USD ($) $ in Millions		3 Months Ended																12 Months Ended
		May 31, 2018	[1]	Feb. 28, 2018	[1]	Nov. 30, 2017	[1]	Aug. 31, 2017	[1]	May 31, 2017	[2]	Feb. 28, 2017	[2]	Nov. 30, 2016	[2]	Aug. 31, 2016	[2]	May 31, 2018		May 31, 2017		May 31, 2016
Entity Wide Information Revenue From External Customer [Line Items]
Revenues		$ 17,314		$ 16,526		$ 16,313		$ 15,297		$ 15,728		$ 14,997		$ 14,931		$ 14,663		$ 65,450	[3]	$ 60,319	[3]	$ 50,365	[3]
FedEx Express Segment [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		36,172		33,824		25,553
FedEx Express Segment [Member] | U.S. overnight box [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		7,273		6,955		6,763
FedEx Express Segment [Member] | U.S. overnight envelope [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		1,788		1,750		1,662
FedEx Express Segment [Member] | U.S. deferred [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		3,738		3,526		3,379
FedEx Express Segment [Member] | Total U.S. domestic package revenue [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		12,799		12,231		11,804
FedEx Express Segment [Member] | International priority [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		7,356		6,940		5,697
FedEx Express Segment [Member] | International economy [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		3,255		2,876		2,282
FedEx Express Segment [Member] | Total international export package revenue [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		10,611		9,816		7,979
FedEx Express Segment [Member] | International domestic [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues	[4]																	4,587		4,227		1,285
FedEx Express Segment [Member] | Total package revenue [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		27,997		26,274		21,068
FedEx Express Segment [Member] | U.S. freight [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		2,797		2,527		2,481
FedEx Express Segment [Member] | International priority freight [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		2,179		1,910		999
FedEx Express Segment [Member] | International Economy Freight
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		1,916		1,740		385
FedEx Express Segment [Member] | International Airfreight [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		368		355		126
FedEx Express Segment [Member] | Total freight revenue [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		7,260		6,532		3,991
FedEx Express Segment [Member] | Other [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		915		1,018		494
FedEx Ground Segment [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		18,395		16,503		15,051
FedEx Freight Segment [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		6,812		6,070		5,825
FedEx Services Segment [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues																		1,650		1,621		1,593
Corporate, Other and Eliminations [Member]
Entity Wide Information Revenue From External Customer [Line Items]
Revenues	[5]																	$ 2,421		$ 2,301		$ 2,343
[1]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[2]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[3]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[4]	International domestic revenues relate to our intra-country operations.
[5]	Includes the FedEx Trade Networks operating segment and TNT Express’s revenue for 2016 from the time of acquisition (May 25, 2016).

Business Segment Information101

Business Segment Information - Schedule of Geographical Information (Details) - USD ($) $ in Millions		3 Months Ended																12 Months Ended
		May 31, 2018		Feb. 28, 2018	[1]	Nov. 30, 2017	[1]	Aug. 31, 2017	[1]	May 31, 2017		Feb. 28, 2017	[2]	Nov. 30, 2016	[2]	Aug. 31, 2016	[2]	May 31, 2018		May 31, 2017		May 31, 2016
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues		$ 17,314	[1]	$ 16,526		$ 16,313		$ 15,297		$ 15,728	[2]	$ 14,997		$ 14,931		$ 14,663		$ 65,450	[3]	$ 60,319	[3]	$ 50,365	[3]
Assets Noncurrent	[3]	38,989								35,924								38,989		35,924		33,970
U.S. [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	43,581		40,269		38,070
Assets Noncurrent	[3]	30,362								28,141								30,362		28,141		25,942
International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	21,869		20,050		12,295
Assets Noncurrent	[3]	$ 8,627								$ 7,783								8,627		7,783		8,028
FedEx Express Segment [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues																		36,172		33,824		25,553
FedEx Express Segment [Member] | International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	20,417		18,817		11,083
FedEx Ground Segment [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues																		18,395		16,503		15,051
FedEx Ground Segment [Member] | International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	407		331		275
FedEx Freight Segment [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues																		6,812		6,070		5,825
FedEx Freight Segment [Member] | International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	181		149		137
FedEx Services Segment [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues																		1,650		1,621		1,593
FedEx Services Segment [Member] | International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3]																	3		10		10
Other international revenue [Member] | International [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	[3],[4]																	$ 861		$ 743		$ 790
[1]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[2]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[3]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[4]	Includes the FedEx Trade Networks operating segment and TNT Express’s revenue for 2016 from the time of acquisition (May 25, 2016).

Supplemental Cash Flow Infor102

Supplemental Cash Flow Information -Supplemental Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Supplemental Cash Flow Information [Abstract]
Interest (net of capitalized interest)	$ 524	$ 484	$ 321
Income taxes	760	397	996
Income tax refunds received	(571)	(20)	(5)
Cash tax payments, net	$ 189	$ 377	$ 991

Commitments - Schedule of Purch

Commitments - Schedule of Purchase Commitments (Details) $ in Millions	May 31, 2018USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
2,019	$ 2,428
2,020	2,614
2,021	1,671
2,022	1,644
2,023	813
Thereafter	3,144
Total	12,314
Aircraft And Related Equipment Commitments [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
2,019	1,534
2,020	1,922
2,021	1,255
2,022	1,359
2,023	628
Thereafter	2,653
Total	9,351
Other Commitments [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
2,019	894	[1]
2,020	692	[1]
2,021	416	[1]
2,022	285	[1]
2,023	185	[1]
Thereafter	491	[1]
Total	$ 2,963	[1]
[1]	Primarily equipment and advertising contracts.

Commitments - Additional Inform

Commitments - Additional Information (Details) $ in Billions	Jun. 18, 2018air-craft	May 31, 2018USD ($)air-craft
Other Aircraft Commitments Disclosure [Abstract]
Boeing 767F Conditional Aircraft Commitments		4
Boeing 777F Conditional Aircraft Commitments		3
Deposit and Progress Payments | $		$ 1.2
Cessna SkyCourier 408 [Member]
Other Aircraft Commitments Disclosure [Abstract]
Number of aircraft agreed to purchase		50
Additional maximum number of aircraft, options to purchase		50
Aircraft expected to be delivered, earliest fiscal year		2,021
Aircraft expected to be delivered, latest fiscal year		2,024
ATR 72-600F [Member]
Other Aircraft Commitments Disclosure [Abstract]
Number of aircraft agreed to purchase		30
Additional maximum number of aircraft, options to purchase		20
Aircraft expected to be delivered, earliest fiscal year		2,021
Aircraft expected to be delivered, latest fiscal year		2,026
B777F Aircraft from 2021 to 2020 [Member]
Other Aircraft Commitments Disclosure [Abstract]
Aircraft expected to be delivered, earliest fiscal year		2,020
Aircraft expected to be delivered, latest fiscal year		2,021
Accelerate Delivery of Boeing 777F Conditional Aircraft Commitments		2
B777F Aircraft from 2021 to 2019 [Member]
Other Aircraft Commitments Disclosure [Abstract]
Aircraft expected to be delivered, earliest fiscal year		2,019
Aircraft expected to be delivered, latest fiscal year		2,021
Accelerate Delivery of Boeing 777F Conditional Aircraft Commitments		1
B777F Aircraft from 2022 to 2020 [Member]
Other Aircraft Commitments Disclosure [Abstract]
Aircraft expected to be delivered, earliest fiscal year		2,020
Aircraft expected to be delivered, latest fiscal year		2,022
Accelerate Delivery of Boeing 777F Conditional Aircraft Commitments		1
Additional B777F [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Boeing 777F Conditional Aircraft Commitments	6
Number of aircraft agreed to purchase	12
Aircraft expected to be delivered, earliest fiscal year	2,021
Aircraft expected to be delivered, latest fiscal year	2,025
Additional B767F [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Boeing 767F Conditional Aircraft Commitments	1
Number of aircraft agreed to purchase	12
Aircraft expected to be delivered, earliest fiscal year	2,020
Aircraft expected to be delivered, latest fiscal year	2,022
B777F Aircraft from 2020 to 2019 [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Aircraft expected to be delivered, earliest fiscal year	2,019
Aircraft expected to be delivered, latest fiscal year	2,020
Accelerate Delivery of Boeing 777F Conditional Aircraft Commitments	1
B767F Aircraft from 2020 to 2019 [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Aircraft expected to be delivered, earliest fiscal year	2,019
Aircraft expected to be delivered, latest fiscal year	2,020
Accelerate delivery of Boeing 767F conditional aircraft commitments	1
B777F [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Additional maximum number of aircraft, options to purchase	14
Aircraft expected to be delivered, earliest fiscal year	2,019
Aircraft expected to be delivered, latest fiscal year	2,025
Number of aircrafts scheduled for delivery	24
Number of aircrafts delivered	1
Number of conditional aircraft commitments	6
Number of non conditional aircrafts	3
Number of aircrafts rescheduled delivery	11
Number of aircraft total options to purchase	25
Aircraft expected to be delivered, through fiscal year	2,028
B767F [Member] | Subsequent Event [Member]
Other Aircraft Commitments Disclosure [Abstract]
Additional maximum number of aircraft, options to purchase	6
Aircraft expected to be delivered, earliest fiscal year	2,019
Aircraft expected to be delivered, latest fiscal year	2,023
Number of aircrafts scheduled for delivery	69
Number of aircrafts delivered	2
Number of conditional aircraft commitments	5
Number of aircraft total options to purchase	50
Aircraft expected to be delivered, through fiscal year	2,026

Commitments - Schedule of Aircr

Commitments - Schedule of Aircraft Purchase Commitments (Details)	12 Months Ended
	May 31, 2018air-craft
Schedule of Aircraft Commitments [Line Items]
2,019	18
2,020	22
2,021	27
2,022	31
2,023	24
Thereafter	27
Total	149
Cessna SkyCourier 408 [Member]
Schedule of Aircraft Commitments [Line Items]
2,021	12
2,022	12
2,023	12
Thereafter	14
Total	50
ATR 72-600F [Member]
Schedule of Aircraft Commitments [Line Items]
2,021	5
2,022	6
2,023	6
Thereafter	13
Total	30
B767F [Member]
Schedule of Aircraft Commitments [Line Items]
2,019	15
2,020	16
2,021	10
2,022	10
2,023	6
Total	57
B777F [Member]
Schedule of Aircraft Commitments [Line Items]
2,019	3
2,020	6
2,022	3
Total	12

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2017	May 31, 2017	May 31, 2017
Loss Contingencies [Line Items]
Litigation settlement expense		$ 22	$ 22
U.S. Customs and Border Protection ("CBP") [Member] | Expected Litigation Loss [Member]
Loss Contingencies [Line Items]
Loss contingency amount		$ 39.3	$ 39.3
Payments for legal settlements	$ 46.5
Litigation settlement expense	$ 7.2

Related Party Transactions (Det

Related Party Transactions (Details)	12 Months Ended
	May 31, 2018
Related Party Transactions [Abstract]
Related Party Ownership Interest	10.00%

Summary of Quarterly Operati108

Summary of Quarterly Operating Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended																12 Months Ended
	May 31, 2018	[1]	Feb. 28, 2018	[1]	Nov. 30, 2017	[1]	Aug. 31, 2017	[1]	May 31, 2017	[2]	Feb. 28, 2017	[2]	Nov. 30, 2016	[2]	Aug. 31, 2016	[2]	May 31, 2018		May 31, 2017		May 31, 2016
Selected Quarterly Financial Information [Abstract]
Revenues	$ 17,314		$ 16,526		$ 16,313		$ 15,297		$ 15,728		$ 14,997		$ 14,931		$ 14,663		$ 65,450	[3]	$ 60,319	[3]	$ 50,365	[3]
Operating income	1,490		1,001		1,262		1,117		1,581		1,025		1,167		1,264		4,870	[4]	5,037	[5]	3,077	[6]
Net income	$ 1,127	[7]	$ 2,074	[7]	$ 775	[7]	$ 596	[7]	$ 1,020		$ 562		$ 700		$ 715		$ 4,572		$ 2,997		$ 1,820
Basic earnings per common share	$ 4.23	[8]	$ 7.74	[8]	$ 2.89	[8]	$ 2.22	[8]	$ 3.81	[8]	$ 2.11	[8]	$ 2.63	[8]	$ 2.69	[8]	$ 17.08		$ 11.24		$ 6.59
Diluted earnings per common share	$ 4.15	[8]	$ 7.59	[8]	$ 2.84	[8]	$ 2.19	[8]	$ 3.75	[8]	$ 2.07	[8]	$ 2.59	[8]	$ 2.65	[8]	$ 16.79		$ 11.07		$ 6.51
[1]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[2]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[3]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[4]	Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.
[5]	Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.
[6]	Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.
[7]	The fourth quarter of 2018 includes a $255 million net tax benefit from corporate structuring transactions as part of the ongoing integration of FedEx Express and TNT Express. The fourth quarter, third quarter, and second quarter of 2018 include $133 million, $12 million, and $80 million, respectively, of tax benefits from foreign tax credits associated with distributions to the U.S. from foreign operations. The fourth quarter and third quarter of 2018 include $100 million and $165 million, respectively, of tax benefits related to a lower statutory income tax rate on fiscal 2018 earnings. In addition, the third quarter of 2018 includes the following TCJA-related items: a provisional benefit of $1.15 billion related to the remeasurement of our net U.S. deferred tax liability and a one-time benefit of $204 million from a $1.5 billion contribution to our U.S. Pension Plans.
[8]	The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective periods.

Summary of Quarterly Operati109

Summary of Quarterly Operating Results (Unaudited) (Parenthetical) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Feb. 28, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2018		May 31, 2017		May 31, 2016
Selected Quarterly Financial Information [Line Items]
Retirement plans mark-to-market adjustment		$ (10)				$ (24)				$ (10)		$ (24)		$ 1,498
Goodwill and other asset impairment charges		380								380
TNT integration expenses		136	$ 106	$ 122	$ 112	124	$ 78	$ 58	$ 68
Tax benefit from corporate structuring transactions		255								(255)	[1]	(68)	[1]	$ (76)	[1]
Tax benefits from foreign tax credits		133	12	$ 80						225
Income tax benefit related to lower statutory Income tax rate on earnings		$ 100	165							265
Provisional benefit related to remeasurement of net U.S. deferred tax liability	$ (1,150)		(1,150)							(1,150)
Charges for legal reserves related to U.S. CBP pending protection matters						39						39
Ground independent contractor litigation expense						$ 22						22
U.S. Plans [Member]
Selected Quarterly Financial Information [Line Items]
Additional provisional amount recognized one time benefit	204		204
Company contributions	$ 1,500		$ 1,500							$ 2,500		$ 2,000
[1]	The 2018 and 2017 net benefits consist of foreign deferred tax benefits of $434 million and $94 million, respectively, which were partially offset by U.S. deferred tax expenses of $179 million and $26 million, respectively.

Condensed Consolidating Fina110

Condensed Consolidating Financial Statements - Additional Information (Details) $ in Billions	May 31, 2018USD ($)
Guarantor Obligations [Abstract]
Debt Guarantee	$ 16.4

Condensed Consolidating Balance

Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions		May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015
CURRENT ASSETS
Cash and cash equivalents		$ 3,265	$ 3,969	$ 3,534	$ 3,763
Receivables, less allowances		8,481	7,599
Spare parts, supplies, fuel, prepaid expenses and other, less allowances		1,595	1,060
Total current assets		13,341	12,628
PROPERTY AND EQUIPMENT, AT COST		55,121	50,626
Less accumulated depreciation and amortization		26,967	24,645
Net property and equipment		28,154	25,981
GOODWILL		6,973	7,154	6,747
OTHER ASSETS		3,862	2,789
ASSETS	[1]	52,330	48,552	45,959
CURRENT LIABILITIES
Current portion of long-term debt		1,342	22
Accrued salaries and employee benefits		2,177	1,914
Accounts payable		2,977	2,752
Accrued expenses		3,131	3,230
Total current liabilities		9,627	7,918
LONG-TERM DEBT, LESS CURRENT PORTION		15,243	14,909
OTHER LONG-TERM LIABILITIES
Deferred income taxes		2,867	2,485
Other liabilities		5,177	7,167
Total other long-term liabilities		8,044	9,652
STOCKHOLDERS’ INVESTMENT		19,416	16,073	13,784	14,993
LIABILITIES AND STOCKHOLDERS' INVESTMENT		52,330	48,552
Consolidation Eliminations [Member]
CURRENT ASSETS
Cash and cash equivalents		(15)	(47)	(43)	(78)
Receivables, less allowances		(78)	(61)
Total current assets		(93)	(108)
INTERCOMPANY RECEIVABLE		(2,411)	(4,128)
INVESTMENT IN SUBSIDIARIES		(37,452)	(30,348)
OTHER ASSETS		104	(3,225)
ASSETS		(39,852)	(37,809)
CURRENT LIABILITIES
Accounts payable		(90)	(108)
Accrued expenses		(3)
Total current liabilities		(93)	(108)
INTERCOMPANY PAYABLE		(2,411)	(4,128)
OTHER LONG-TERM LIABILITIES
Deferred income taxes		104	(3,225)
Total other long-term liabilities		104	(3,225)
STOCKHOLDERS’ INVESTMENT		(37,452)	(30,348)
LIABILITIES AND STOCKHOLDERS' INVESTMENT		(39,852)	(37,809)
Parent Company [Member] | Reportable Legal Entities [Member]
CURRENT ASSETS
Cash and cash equivalents		1,485	1,884	1,974	2,383
Receivables, less allowances		3	3
Spare parts, supplies, fuel, prepaid expenses and other, less allowances		425	25
Total current assets		1,913	1,912
PROPERTY AND EQUIPMENT, AT COST		21	22
Less accumulated depreciation and amortization		17	18
Net property and equipment		4	4
INTERCOMPANY RECEIVABLE		1,487	1,521
INVESTMENT IN SUBSIDIARIES		33,370	27,712
OTHER ASSETS		75	3,494
ASSETS		36,849	34,643
CURRENT LIABILITIES
Current portion of long-term debt		1,332
Accrued salaries and employee benefits		65	72
Accounts payable		16	10
Accrued expenses		460	991
Total current liabilities		1,873	1,073
LONG-TERM DEBT, LESS CURRENT PORTION		14,942	14,641
OTHER LONG-TERM LIABILITIES
Other liabilities		619	2,856
Total other long-term liabilities		619	2,856
STOCKHOLDERS’ INVESTMENT		19,415	16,073
LIABILITIES AND STOCKHOLDERS' INVESTMENT		36,849	34,643
Guarantor Subsidiaries [Member[ | Reportable Legal Entities [Member]
CURRENT ASSETS
Cash and cash equivalents		257	325	326	487
Receivables, less allowances		4,970	4,729
Spare parts, supplies, fuel, prepaid expenses and other, less allowances		878	787
Total current assets		6,105	5,841
PROPERTY AND EQUIPMENT, AT COST		51,232	47,201
Less accumulated depreciation and amortization		25,111	23,211
Net property and equipment		26,121	23,990
INTERCOMPANY RECEIVABLE		924	2,607
GOODWILL		1,709	1,571
INVESTMENT IN SUBSIDIARIES		4,082	2,636
OTHER ASSETS		1,854	1,271
ASSETS		40,795	37,916
CURRENT LIABILITIES
Current portion of long-term debt		1	9
Accrued salaries and employee benefits		1,506	1,335
Accounts payable		1,332	1,411
Accrued expenses		1,778	1,522
Total current liabilities		4,617	4,277
LONG-TERM DEBT, LESS CURRENT PORTION		288	244
OTHER LONG-TERM LIABILITIES
Deferred income taxes		2,626	5,472
Other liabilities		3,432	3,448
Total other long-term liabilities		6,058	8,920
STOCKHOLDERS’ INVESTMENT		29,832	24,475
LIABILITIES AND STOCKHOLDERS' INVESTMENT		40,795	37,916
Non Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
CURRENT ASSETS
Cash and cash equivalents		1,538	1,807	$ 1,277	$ 971
Receivables, less allowances		3,586	2,928
Spare parts, supplies, fuel, prepaid expenses and other, less allowances		292	248
Total current assets		5,416	4,983
PROPERTY AND EQUIPMENT, AT COST		3,868	3,403
Less accumulated depreciation and amortization		1,839	1,416
Net property and equipment		2,029	1,987
GOODWILL		5,264	5,583
OTHER ASSETS		1,829	1,249
ASSETS		14,538	13,802
CURRENT LIABILITIES
Current portion of long-term debt		9	13
Accrued salaries and employee benefits		606	507
Accounts payable		1,719	1,439
Accrued expenses		896	717
Total current liabilities		3,230	2,676
LONG-TERM DEBT, LESS CURRENT PORTION		13	24
INTERCOMPANY PAYABLE		2,411	4,128
OTHER LONG-TERM LIABILITIES
Deferred income taxes		137	238
Other liabilities		1,126	863
Total other long-term liabilities		1,263	1,101
STOCKHOLDERS’ INVESTMENT		7,621	5,873
LIABILITIES AND STOCKHOLDERS' INVESTMENT		$ 14,538	$ 13,802
[1]	Segment assets include intercompany receivables.

Condensed Consolidating Stateme

Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended																12 Months Ended
	May 31, 2018		Feb. 28, 2018	[1]	Nov. 30, 2017	[1]	Aug. 31, 2017	[1]	May 31, 2017		Feb. 28, 2017	[2]	Nov. 30, 2016	[2]	Aug. 31, 2016	[2]	May 31, 2018		May 31, 2017		May 31, 2016
Condensed Statement Of Income Captions [Line Items]
REVENUES	$ 17,314	[1]	$ 16,526		$ 16,313		$ 15,297		$ 15,728	[2]	$ 14,997		$ 14,931		$ 14,663		$ 65,450	[3]	$ 60,319	[3]	$ 50,365	[3]
OPERATING EXPENSES:
Salaries and employee benefits																	23,207		21,542		18,581
Purchased transportation																	15,101		13,630		9,966
Rentals and landing fees																	3,361		3,240		2,854
Depreciation and amortization																	3,095		2,995		2,631
Fuel																	3,374		2,773		2,399
Maintenance and repairs																	2,622		2,374		2,108
Goodwill and other asset impairment charges	380																380
Retirement plans mark-to-market adjustment	(10)								(24)								(10)		(24)		1,498
Other																	9,450		8,752		7,251
OPERATING EXPENSES																	60,580		55,282		47,288
OPERATING INCOME	1,490	[1]	1,001		1,262		1,117		1,581	[2]	1,025		1,167		1,264		4,870	[4]	5,037	[5]	3,077	[6]
OTHER INCOME (EXPENSE):
Interest, net																	(510)		(479)		(315)
Other, net																	(7)		21		(22)
INCOME BEFORE INCOME TAXES																	4,353		4,579		2,740
Provision for income taxes (benefit)																	(219)		1,582		920
NET INCOME	$ 1,127	[1],[7]	$ 2,074	[7]	$ 775	[7]	$ 596	[7]	$ 1,020	[2]	$ 562		$ 700		$ 715		4,572		2,997		1,820
COMPREHENSIVE INCOME																	4,409		2,751		1,479
Consolidation Eliminations [Member]
Condensed Statement Of Income Captions [Line Items]
REVENUES																	(407)		(302)		(325)
OPERATING EXPENSES:
Purchased transportation																	(224)		(125)		(134)
Rentals and landing fees																	(7)		(6)		(6)
Other																	(176)		(171)		(185)
OPERATING EXPENSES																	(407)		(302)		(325)
OTHER INCOME (EXPENSE):
Equity in earnings of subsidiaries																	(4,634)		(3,065)		(2,099)
INCOME BEFORE INCOME TAXES																	(4,634)		(3,065)		(2,099)
NET INCOME																	(4,634)		(3,065)		(2,099)
COMPREHENSIVE INCOME																	(4,634)		(3,065)		(2,099)
Parent Company [Member] | Reportable Legal Entities [Member]
OPERATING EXPENSES:
Salaries and employee benefits																	149		123		119
Rentals and landing fees																	5		5		5
Depreciation and amortization																	1		1		1
Maintenance and repairs																	1		1		1
Intercompany charges, net																	(437)		(434)		(645)
Other																	281		304		519
OTHER INCOME (EXPENSE):
Equity in earnings of subsidiaries																	4,572		2,997		1,820
Interest, net																	(541)		(507)		(355)
Intercompany charges, net																	544		508		369
Other, net																	(3)		(1)		(14)
INCOME BEFORE INCOME TAXES																	4,572		2,997		1,820
NET INCOME																	4,572		2,997		1,820
COMPREHENSIVE INCOME																	4,489		2,922		1,746
Guarantor Subsidiaries [Member[ | Reportable Legal Entities [Member]
Condensed Statement Of Income Captions [Line Items]
REVENUES																	48,601		44,823		42,143
OPERATING EXPENSES:
Salaries and employee benefits																	17,814		16,696		15,880
Purchased transportation																	9,134		8,260		7,380
Rentals and landing fees																	2,587		2,517		2,484
Depreciation and amortization																	2,644		2,538		2,399
Fuel																	3,077		2,476		2,324
Maintenance and repairs																	2,294		2,086		1,954
Retirement plans mark-to-market adjustment																	19		(75)		1,414
Intercompany charges, net																	(120)		182		425
Other																	6,227		5,734		5,274
OPERATING EXPENSES																	43,676		40,414		39,534
OPERATING INCOME																	4,925		4,409		2,609
OTHER INCOME (EXPENSE):
Equity in earnings of subsidiaries																	62		68		279
Interest, net																	46		27		27
Intercompany charges, net																	(291)		(296)		(354)
Other, net																	(120)		(134)		(14)
INCOME BEFORE INCOME TAXES																	4,622		4,074		2,547
Provision for income taxes (benefit)																	309		1,439		818
NET INCOME																	4,313		2,635		1,729
COMPREHENSIVE INCOME																	4,263		2,580		1,704
Non Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Statement Of Income Captions [Line Items]
REVENUES																	17,256		15,798		8,547
OPERATING EXPENSES:
Salaries and employee benefits																	5,244		4,723		2,582
Purchased transportation																	6,191		5,495		2,720
Rentals and landing fees																	776		724		371
Depreciation and amortization																	450		456		231
Fuel																	297		297		75
Maintenance and repairs																	327		287		153
Goodwill and other asset impairment charges																	380
Retirement plans mark-to-market adjustment																	(29)		51		84
Intercompany charges, net																	557		252		220
Other																	3,118		2,885		1,643
OPERATING EXPENSES																	17,311		15,170		8,079
OPERATING INCOME																	(55)		628		468
OTHER INCOME (EXPENSE):
Interest, net																	(15)		1		13
Intercompany charges, net																	(253)		(212)		(15)
Other, net																	116		156		6
INCOME BEFORE INCOME TAXES																	(207)		573		472
Provision for income taxes (benefit)																	(528)		143		102
NET INCOME																	321		430		370
COMPREHENSIVE INCOME																	$ 291		$ 314		$ 128
[1]	The fourth quarter, third quarter, second quarter and first quarter of 2018 include $136 million, $106 million, $122 million and $112 million, respectively, of TNT Express integration expenses (including any restructuring charges). The fourth quarter of 2018 includes goodwill and other asset impairment charges related to FedEx Supply Chain of $380 million and a gain of $10 million related to the annual retirement plans MTM adjustment.
[2]	The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[3]	International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, goodwill and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[4]	Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.
[5]	Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.
[6]	Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.
[7]	The fourth quarter of 2018 includes a $255 million net tax benefit from corporate structuring transactions as part of the ongoing integration of FedEx Express and TNT Express. The fourth quarter, third quarter, and second quarter of 2018 include $133 million, $12 million, and $80 million, respectively, of tax benefits from foreign tax credits associated with distributions to the U.S. from foreign operations. The fourth quarter and third quarter of 2018 include $100 million and $165 million, respectively, of tax benefits related to a lower statutory income tax rate on fiscal 2018 earnings. In addition, the third quarter of 2018 includes the following TCJA-related items: a provisional benefit of $1.15 billion related to the remeasurement of our net U.S. deferred tax liability and a one-time benefit of $204 million from a $1.5 billion contribution to our U.S. Pension Plans.

Condensed Consolidating Stat113

Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Condensed Cash Flow Statements Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$ 4,674	$ 4,930	$ 5,708
INVESTING ACTIVITIES
Capital expenditures	(5,663)	(5,116)	(4,818)
Business acquisitions, net of cash acquired	(179)		(4,618)
Proceeds from sale of business	123
Proceeds from asset dispositions and other	42	135	(10)
Cash used in investing activities	(5,677)	(4,981)	(9,446)
FINANCING ACTIVITIES
Principal payments on debt	(38)	(82)	(41)
Proceeds from debt issuances	1,480	1,190	6,519
Proceeds from stock issuances	327	337	183
Dividends paid	(535)	(426)	(277)
Purchase of treasury stock	(1,017)	(509)	(2,722)
Other, net	10	18	(51)
Cash provided by financing activities	227	528	3,611
Effect of exchange rate changes on cash	72	(42)	(102)
Net (decrease) increase in cash and cash equivalents	(704)	435	(229)
Cash and cash equivalents at beginning of period	3,969	3,534	3,763
Cash and cash equivalents at end of period	3,265	3,969	3,534
Consolidation Eliminations [Member]
Condensed Cash Flow Statements Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	32	(4)	35
FINANCING ACTIVITIES
Net (decrease) increase in cash and cash equivalents	32	(4)	35
Cash and cash equivalents at beginning of period	(47)	(43)	(78)
Cash and cash equivalents at end of period	(15)	(47)	(43)
Parent Company [Member] | Reportable Legal Entities [Member]
Condensed Cash Flow Statements Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(2,837)	(1,155)	(831)
INVESTING ACTIVITIES
Capital expenditures	(1)
Proceeds from asset dispositions and other	(6)	34	(55)
Cash used in investing activities	(7)	34	(55)
FINANCING ACTIVITIES
Net transfers from (to) Parent	1,529	421	1,629
Payment on loan between subsidiaries	663	41	(4,805)
Proceeds from debt issuances	1,480	1,190	6,519
Proceeds from stock issuances	327	337	183
Dividends paid	(535)	(426)	(277)
Purchase of treasury stock	(1,017)	(509)	(2,722)
Other, net	3	(12)	(51)
Cash provided by financing activities	2,450	1,042	476
Effect of exchange rate changes on cash	(5)	(11)	1
Net (decrease) increase in cash and cash equivalents	(399)	(90)	(409)
Cash and cash equivalents at beginning of period	1,884	1,974	2,383
Cash and cash equivalents at end of period	1,485	1,884	1,974
Guarantor Subsidiaries [Member[ | Reportable Legal Entities [Member]
Condensed Cash Flow Statements Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	6,767	5,254	5,932
INVESTING ACTIVITIES
Capital expenditures	(5,299)	(4,694)	(4,617)
Business acquisitions, net of cash acquired	(44)
Proceeds from asset dispositions and other	33	25	33
Cash used in investing activities	(5,310)	(4,669)	(4,584)
FINANCING ACTIVITIES
Net transfers from (to) Parent	(1,612)	(518)	(1,549)
Payment on loan between subsidiaries		(15)	109
Intercompany dividends	98	1	20
Principal payments on debt	(22)	(55)	(19)
Other, net	7	(13)	(48)
Cash provided by financing activities	(1,529)	(600)	(1,487)
Effect of exchange rate changes on cash	4	14	(22)
Net (decrease) increase in cash and cash equivalents	(68)	(1)	(161)
Cash and cash equivalents at beginning of period	325	326	487
Cash and cash equivalents at end of period	257	325	326
Non Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Cash Flow Statements Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	712	835	572
INVESTING ACTIVITIES
Capital expenditures	(363)	(422)	(201)
Business acquisitions, net of cash acquired	(135)		(4,618)
Proceeds from sale of business	123
Proceeds from asset dispositions and other	15	76	12
Cash used in investing activities	(360)	(346)	(4,807)
FINANCING ACTIVITIES
Net transfers from (to) Parent	83	97	(80)
Payment on loan between subsidiaries	(663)	(26)	4,696
Intercompany dividends	(98)	(1)	(20)
Principal payments on debt	(16)	(27)	(22)
Other, net		43	48
Cash provided by financing activities	(694)	86	4,622
Effect of exchange rate changes on cash	73	(45)	(81)
Net (decrease) increase in cash and cash equivalents	(269)	530	306
Cash and cash equivalents at beginning of period	1,807	1,277	971
Cash and cash equivalents at end of period	$ 1,538	$ 1,807	$ 1,277

Valuation and Qualifying Acc114

Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions		12 Months Ended
		May 31, 2018	May 31, 2017	May 31, 2016
Allowance For Doubtful Accounts [Member]
Movement In Valuation Allowances And Reserves Roll Forward
Valuation Allowances And Reserves Beginning Balance		$ 115	$ 73	$ 86
Charged To Expenses		246	136	121
Deductions	[1]	162	94	134
Valuation Allowances And Reserves Ending Balance		199	115	73
Allowance For Revenue Adjustments [Member]
Movement In Valuation Allowances And Reserves Roll Forward
Valuation Allowances And Reserves Beginning Balance		137	105	99
Charged To Other Accounts	[2]	1,173	941	692
Deductions	[3]	1,108	909	686
Valuation Allowances And Reserves Ending Balance		202	137	105
Inventory Valuation Allowance [Member]
Movement In Valuation Allowances And Reserves Roll Forward
Valuation Allowances And Reserves Beginning Balance		237	218	207
Charged To Expenses		27	26	26
Charged To Other Accounts		6
Deductions		2	7	15
Valuation Allowances And Reserves Ending Balance		$ 268	$ 237	$ 218
[1]	Uncollectible accounts written off, net of recoveries, and other adjustments.
[2]	Principally charged against revenue.
[3]	Service failures, rebills and other.