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COMPUTATION OF EARNINGS PER SHARE
 4 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
COMPUTATION OF EARNINGS PER SHARE COMPUTATION OF EARNINGS PER SHARE
Basic earnings per share is calculated using the two-class method, which allocates all earnings (distributed and undistributed) to common stock and participating securities. Prior to June 2026, FedEx granted restricted stock under its stock-based compensation programs; these shares receive nonforfeitable dividends during vesting, making them participating securities and a separate class in basic earnings per share.
Diluted earnings per share reflects the potential impact of contingently issuable shares, including awards requiring future service. It is computed under both the two-class and treasury stock methods, with the more dilutive amount reported. For all periods shown, the two-class method produced the more dilutive result.
The following table sets forth the computation of basic and diluted earnings per common share for the periods ended September 30, 2026 and 2025 (in millions, except per share amounts):

Three Months EndedFour Months Ended

September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Numerator:
Net earnings allocable to common shares from continuing operations(1)
$290 $644 $5,323 $745 
Net earnings allocable to common shares from discontinued operations(1)
— 274 — 390 
Net earnings allocable to common shares
$290 $918 $5,323 $1,135 
Denominator:
Weighted-average common shares for basic earnings per common share236 236 237 236 
Dilutive effect of stock options and RSUs3 1 3 1 
Weighted-average common shares for diluted earnings per common share239 237 240 237 
Basic earnings per common share:
Continuing operations$1.23 $2.74 $22.53 $3.16 
Discontinued operations— 1.16 — 1.65 
Basic earnings per common share$1.23 $3.90 $22.53 $4.81 
Diluted earnings per common share:
Continuing operations$1.21 $2.73 $22.21 $3.14 
Discontinued operations— 1.16 — 1.64 
Diluted earnings per common share$1.21 $3.89 $22.21 $4.78 
Anti-dilutive options excluded from diluted earnings per common share1 7 1 7 
(1)Net earnings available to participating securities relating to continuing operations were immaterial and $1 million for the three-month periods ended September 30, 2026 and 2025, respectively, and $8 million and $1 million for the four-month periods ended September 30, 2026 and 2025, respectively. Net earnings available to participating securities relating to discontinued operations were $1 million for each of the three- and four-month periods ended September 30, 2025.