v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
May 31, 2026
May 31, 2025
CURRENT ASSETS    
Cash $ 251 $ 109
Receivables, less allowances of $204 and $14 1,154 132
Due from Parent 18 0
Prepaid expenses and other 83 43
Total current assets 1,506 284
PROPERTY AND EQUIPMENT, AT COST    
Vehicles and trailers 3,850 3,964
Facilities and other 1,672 1,512
Ground support and dock equipment 628 621
Information technology 520 397
Total property and equipment, at cost 6,670 6,494
Less accumulated depreciation and amortization 3,747 3,714
Net property and equipment 2,923 2,780
OTHER LONG-TERM ASSETS    
Operating lease right-of-use assets, net 1,824 1,352
Goodwill 602 602
Other assets 29 4
Total other long-term assets 2,455 1,958
TOTAL ASSETS 6,884 5,022
CURRENT LIABILITIES    
Current portion of long-term debt 43 7
Accrued salaries and employee benefits 389 227
Accounts payable 106 150
Due to Parent, net 0 5
Operating lease liabilities 172 172
Accrued expenses 283 212
Total current liabilities 993 773
LONG-TERM LIABILITIES    
Long-term debt, less current portion 4,484 66
Deferred income taxes 220 235
Self-insurance accruals 13 315
Operating lease liabilities 1,666 1,188
Other liabilities 5 52
Total long-term liabilities 6,388 1,856
CONTINGENCIES
(DEFICIT) EQUITY    
Common stock, $0.10 par value; 149,505,248 shares authorized, issued, and outstanding as of May 31, 2026 15 0
Additional paid-in capital 0 0
(Accumulated deficit) Retained earnings (509) 2,400
Accumulated other comprehensive loss (3) (7)
Total (deficit) equity (497) 2,393
TOTAL LIABILITIES AND (DEFICIT) EQUITY $ 6,884 $ 5,022