# FedEx Corporation (FDX) FY2025 Annual Statement of Cash Flows

- Company: FedEx Corporation (FDX)
- Period: 2024-06-01 to 2025-05-31
- Filing: FY2025 10-K, filed 2025-07-21, accession number 0001048911-25-000011
- Page: https://plicit.ai/financials/fdx/fy2025-annual-cash-flow
- Chart image: https://plicit.ai/charts/fdx-fy2025-annual-cash-flow-sankey.png

## Chart details

Cash flows for Jun 1, 2024 through May 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: May 31, 2024. Ending cash: May 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on May 31, 2024**: 6,501,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
- **Operating activities**: 7,036,000,000 US dollars. Net cash provided.
- **Net income**: 4,092,000,000 US dollars
- **Other, net**: negative 12,000,000 US dollars
- **Business optimization and realignment costs, net of payments**: 43,000,000 US dollars
- **Other noncash items including leases and deferred income taxes**: 3,156,000,000 US dollars
- **Other current assets**: 90,000,000 US dollars
- **Receivables**: negative 1,780,000,000 US dollars
- **Accounts payable and other liabilities**: negative 2,445,000,000 US dollars
- **Provision for uncollectible accounts**: 521,000,000 US dollars
- **Goodwill and other asset impairment charges**: 21,000,000 US dollars
- **Pension and postretirement healthcare assets and liabilities, net**: negative 553,000,000 US dollars
- **Retirement plans mark-to-market adjustments**: negative 515,000,000 US dollars
- **Depreciation and amortization**: 4,264,000,000 US dollars
- **Stock-based compensation**: 154,000,000 US dollars
- **Investing activities**: negative 4,092,000,000 US dollars. Net cash used.
- **Capital expenditures**: negative 4,055,000,000 US dollars
- **Proceeds from sale of investments**: 110,000,000 US dollars
- **Purchase of investments**: negative 262,000,000 US dollars
- **Proceeds from asset dispositions, and other investing activities, net**: 115,000,000 US dollars
- **Financing activities**: negative 4,019,000,000 US dollars. Net cash used.
- **Principal payments on debt**: negative 157,000,000 US dollars
- **Proceeds from stock issuances**: 524,000,000 US dollars
- **Dividends paid**: negative 1,339,000,000 US dollars
- **Purchase of common stock**: negative 3,017,000,000 US dollars
- **Other, net**: negative 30,000,000 US dollars
- **Operating adjustment reconciliation**: 8,249,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 4,543,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 4,317,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: 76,000,000 US dollars
- **Ending cash on May 31, 2025**: 5,502,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
- **Cash sources and uses**: 13,613,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: negative 999,000,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: 1.72×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- **Operating cash flow**: 7,036,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **cash spent on productive assets**: 4,055,000,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: 2,981,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $2.94B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash spent on productive assets equals free cash flow: 7,036,000,000 US dollars minus 4,055,000,000 US dollars equals 2,981,000,000 US dollars.