INVESTMENTS	4 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Equity Method Investment On September 24, 2026, FedEx acquired a 37% ownership interest in Lux TopCo S.á. r.l. (“TopCo”) for cash consideration of €2.2 billion in connection with its investment in InPost S.A. (“InPost”). InPost will continue to operate as a standalone company. We account for our investment under the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of TopCo. The investment is included within "Equity method investment" in the accompanying condensed consolidated balance sheets. We recognized no equity method earnings during the three and four-month periods ended September 30, 2026. Equity Securities Equity securities totaled $576 million and $564 million at September 30, 2026 and May 31, 2026, respectively. Equity securities are recorded within “Goodwill and other assets” in the accompanying unaudited condensed consolidated balance sheets. Following the Spin-Off, we retained an ownership interest of 19.9% in FedEx Freight, which is accounted for as an equity security with a readily determinable fair value. We recognized cumulative unrealized gain of $3.3 billion during the four-month period ended September 30, 2026 within “Gain (loss) on short-term investment” in the accompanying unaudited condensed consolidated statements of income. During the three-month period ended September 30, 2026, we recognized a $1.2 billion unrealized loss due to a decline in the fair value of the retained interest. The carrying value of this equity security totaled $3.3 billion at September 30, 2026 and is recorded within “Short-term investment” in the accompanying unaudited condensed consolidated balance sheets. We expect to fully monetize our remaining stake in FedEx Freight within 12 months from the balance sheet date, subject to market conditions. Debt Securities Debt securities totaled $266 million and $236 million at September 30, 2026 and May 31, 2026, respectively. Debt securities are recorded within the “Prepaid expenses and other” caption in the accompanying unaudited condensed consolidated balance sheets. This increase primarily reflects strategic purchases of corporate debt and U.S. Treasury securities to enhance returns on cash balances.

INVESTMENTS

4 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Equity Method Investment

On September 24, 2026, FedEx acquired a 37% ownership interest in Lux TopCo S.á. r.l. (“TopCo”) for cash consideration of €2.2 billion in connection with its investment in InPost S.A. (“InPost”). InPost will continue to operate as a standalone company. We account for our investment under the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of TopCo. The investment is included within "Equity method investment" in the accompanying condensed consolidated balance sheets. We recognized no equity method earnings during the three and four-month periods ended September 30, 2026.

Equity Securities

Equity securities totaled $576 million and $564 million at September 30, 2026 and May 31, 2026, respectively. Equity securities are recorded within “Goodwill and other assets” in the accompanying unaudited condensed consolidated balance sheets.

Following the Spin-Off, we retained an ownership interest of 19.9% in FedEx Freight, which is accounted for as an equity security with a readily determinable fair value. We recognized cumulative unrealized gain of $3.3 billion during the four-month period ended September 30, 2026 within “Gain (loss) on short-term investment” in the accompanying unaudited condensed consolidated statements of income. During the three-month period ended September 30, 2026, we recognized a $1.2 billion unrealized loss due to a decline in the fair value of the retained interest. The carrying value of this equity security totaled $3.3 billion at September 30, 2026 and is recorded within “Short-term investment” in the accompanying unaudited condensed consolidated balance sheets. We expect to fully monetize our remaining stake in FedEx Freight within 12 months from the balance sheet date, subject to market conditions.

Debt Securities

Debt securities totaled $266 million and $236 million at September 30, 2026 and May 31, 2026, respectively. Debt securities are recorded within the “Prepaid expenses and other” caption in the accompanying unaudited condensed consolidated balance sheets. This increase primarily reflects strategic purchases of corporate debt and U.S. Treasury securities to enhance returns on cash balances.