Risk Sleuth
FDX · 10-K filed 20 Jul 2026 · year to 31 May 2026

FedEx

38 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Independent service providers (linehaul and pickup-and-delivery contractors)

depends on · approximately 5,300named as a risk
We contract with service providers to conduct certain linehaul and pickup-and-delivery operations, and the status of these service providers as direct and exclusive employers of drivers providing these services is being challenged.Risk factors (Item 1A)

Harbinger Motors

depends on · initial order of 53 trucks
In 2025, we made a strategic investment in Harbinger Motors, through its $160 million Series C funding round, supporting the development of medium-duty EV solutions, including an initial order of 53 trucks.Business (Item 1)

Partners and platforms

Walgreens

depends on · over 15,000 Walgreens and Dollar General stores
Federal Express also has alliances with certain other retailers to provide in-store drop-off sites, including at more than 15,000 Walgreens and Dollar General stores.Business (Item 1)

Also named by CVS, O, SYF

Dollar General

depends on · over 15,000 Walgreens and Dollar General stores
Federal Express also has alliances with certain other retailers to provide in-store drop-off sites, including at more than 15,000 Walgreens and Dollar General stores.Business (Item 1)

Also named by O

Walmart

operates in
The FedEx Office brick-and-mortar network features retail stores, FedEx Office locations inside Walmart stores, manufacturing plants, and on-site business centers at colleges and universities, hotels, convention centers, corporate campuses, and healthcare campuses.Business (Item 1)

Also named by AIOT, BRK/B, CART, COST, DG, DGX, EEFT, KDP and 6 more

Aurora Innovation

We continued our ongoing pilot program with Aurora Innovation, Inc. (“Aurora”) and PACCAR Inc. (“PACCAR”) to test Aurora’s autonomous driving technology in PACCAR autonomous vehicle platform-equipped trucks within FedEx linehaul operations.Business (Item 1)

Other companies

FedEx Freight Holding Company

19.9% of the outstanding sharesnamed as a risk
If FedEx Freight or its successor entities are unable to satisfy their obligations under these agreements, we could incur operational difficulties or losses.Risk factors (Item 1A)

InPost S.A.

37%named as a risk
Following the completion of the offer, the consortium will be structured with us holding 37%, and thereafter we and InPost intend to enter into arm’s length commercial agreements.Risk factors (Item 1A)

CMA CGM Group

$1.4 billion
On July 1, 2026, FedEx announced that it would sell its FedEx Supply Chain business to CMA CGM Group for $1.4 billion as part of a strategic portfolio streamlining effort.Business (Item 1)

Air Line Pilots Association, International (ALPA)

The pilots at Federal Express, who are a small number of its total employees, are represented by the Air Line Pilots Association, International (“ALPA”) and are employed under a newly ratified collective bargaining agreement (“CBA”).Business (Item 1)

Competitors

Amazon.com

competes withnamed as a risk
For example, Amazon has established a network of hubs, aircraft, and vehicles, recently began offering an LTL freight service for inbound shipments to its distribution facilities, and recently began offering its internal delivery capabilities broadly to third parties.Risk factors (Item 1A)

United States Postal Service (USPS)

competes with
Competitors for Express U.S. Domestic include other package delivery concerns, principally United Parcel Service, Inc. (“UPS”), passenger airlines offering express package services, regional delivery companies, air freight forwarders, and the USPS.Business (Item 1)

Also named by BR, CI, DJCO, HIMS, PBI, PPLI, UPS

DHL

competes with
Express International competitors are principally DHL, UPS, DPD (a subsidiary of France’s La Poste’s GeoPost), General Logistics Systems (a Royal Mail-owned parcel delivery group), foreign postal authorities, passenger airlines, air freight forwarders, regional carriers, and all-cargo airlines.Business (Item 1)

Also named by ENPH, RVTY, TMO

United Parcel Service (UPS)

competes with
Competitors for Express U.S. Domestic include other package delivery concerns, principally United Parcel Service, Inc. (“UPS”), passenger airlines offering express package services, regional delivery companies, air freight forwarders, and the USPS.Business (Item 1)

Also named by BR, RXO

Places

Memphis, Tennessee

concentrated innamed as a risk
Prolonged interruptions or disruptions at a key location such as our FedEx Memphis World Hub or one of our information-technology centers could materially and adversely affect our business, financial condition, cash flows and results of operations.Risk factors (Item 1A)

Also named by AZO, FFIV, IDXX

Indianapolis, Indiana

operates in
A second national air hub facility is located in Indianapolis, Indiana.Business (Item 1)

Also named by AES, ALSN, FIVE

Hazards

Russia-Ukraine conflict

operates innamed as a risk
For example, our services in Ukraine remain limited, our services in Belarus remain suspended, we have exited our operations in Russia, and our services in the Middle East are impacted.Risk factors (Item 1A)

Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FLR and 14 more

Middle East / U.S.-Iran conflict

operates innamed as a risk
To the extent the continued conflicts between Russia and Ukraine, and the United States and Iran, and hostilities in the Middle East, or subsequent similar conflicts or hostilities, materially and adversely affect our business, they may also have the effect of heightening many other risks disclosed in this Annual Report, any of which could materially and adversely affect our business and results of operations.Risk factors (Item 1A)

Commodities and inputs

Euro

exposed to its price · approximately $541 millionnamed as a risk
The principal foreign currency exchange rate risks to which we are exposed relate to the euro, Chinese yuan, Canadian dollar, British pound, Australian dollar, Mexican peso, Hong Kong dollar, and Japanese yen.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Jet fuel

exposed to its price · $3,050 million; 3.2% of consolidated revenuenamed as a risk
We do not have any jet fuel hedging contracts.Business (Item 1)

Also named by AIR, ALK, CG, DAL, GE, LUV, UPS, WLFC

Sustainable aviation fuel (SAF)

depends on · more than 16.5 million gallons
Beginning in May 2025, FedEx executed five SAF offtake agreements designed to bring more than 16.5 million gallons of blended SAF deployed at a minimum blend ratio of 30% online across five U.S. airports: Los Angeles (LAX), Chicago O’Hare (ORD), Miami (MIA), Dallas Fort Worth (DFW), and New York-JFK International (JFK).Business (Item 1)

Also named by ALK, CLMT, DAL, LUV, UAL, UPS

Vehicle fuel

exposed to its pricenamed as a risk
While we have market risk for changes in the price of jet and vehicle fuel, this risk is largely mitigated by our indexed fuel surcharges.Market risk (Item 7A)

Regulators

U.S. Internal Revenue Service (IRS)

subject tonamed as a risk
If the IRS ultimately determines that the Spin-Off is taxable, then the Spin-Off could be treated as a taxable dividend or capital gain to our stockholders for U.S. federal income tax purposes, and we could incur significant U.S. tax liabilities.Risk factors (Item 1A)

Also named by AAPL, ABNB, ADI, AJG, AMGN, BBSI, BMNR, BRO and 39 more

Federal Aviation Administration (FAA)

subject tonamed as a risk
For instance, the FAA from time-to-time issues directives and other regulations relating to the maintenance and operation of aircraft that require significant expenditures in order to comply.Risk factors (Item 1A)

Also named by ACHR, AIR, ALK, AMT, AVAV, BA, BRK/B, CCI and 27 more

U.S. Department of Transportation (DOT)

subject tonamed as a risk
Our right to serve foreign points is subject to the approval of the DOT and generally requires a bilateral agreement between the United States and foreign governments.Risk factors (Item 1A)

Also named by ACHR, AESI, ALK, BLDR, CHRW, CTAS, DAL, EXPE and 19 more

Transportation Security Administration (TSA)

subject tonamed as a risk
It is reasonably possible that these rules or other future security requirements could impose material costs on us.Business (Item 1)

Also named by ALK, BKH, CHRW, CP, CSX, DAL, EXC, EXPD and 13 more

National Labor Relations Board (NLRB)

subject tonamed as a risk
In addition, the NMB and the NLRB have and may continue to take actions that could make it easier for our employees, as well as vendor, service provider, and supplier workforces, to organize under the RLA or NLRA.Risk factors (Item 1A)

Also named by AZO, BBW, BBY, DKS, FDXF, ODFL, QSR, RRGB and 3 more

U.S. Customs and Border Protection

subject to
Our customs clearance activities, including customs brokerage, are subject to regulation by U.S. Customs and Border Protection and other partner government agencies (for example, the Food and Drug Administration) that regulate the importation and exportation of specific products.Business (Item 1)

Also named by BALL, BJ, CHRW, CROX, EXPD, FDXF, JBHT, KLAC and 12 more

Laws and programs

RefuelEU Aviation regulation

subject to · two percent of the jet fuelnamed as a risk
Fuel suppliers have incorporated a SAF fee into future uptake agreements for their compliance or production costs related to the Refuel EU regulation.Business (Item 1)

Export Control Reform Act / IEEPA

subject to · criminal penalties of up to $1 million and civil penalties up to $378,000named as a risk
However, the heightened focus on export controls by the U.S. government increases FedEx’s exposure to potential regulatory penalties and could result in higher compliance costs.Business (Item 1)

PFAS (CERCLA hazardous substance designation)

subject tonamed as a risk
We could incur remediation costs for currently and formerly operated facilities.Business (Item 1)

Also named by ACHR, APG, CAG, CAVA, CTVA, DD, ES, INTC and 12 more

U.S. tariffs and trade policy

subject tonamed as a risk
Additional changes in international trade policies, including tariffs, and relations could significantly reduce the volume of goods transported globally, increase our costs, and materially and adversely affect our business, financial condition, cash flows, and results of operations.Risk factors (Item 1A)

Also named by ADSK, CTAS, EMR, EXP, FLR, GWW, HPE, ITW and 8 more

Railway Labor Act (RLA)

subject tonamed as a risk
For example, there is always a possibility that legislative or administrative actions, or judicial decisions, could attempt to remove our employees from the jurisdiction of the RLA.Risk factors (Item 1A)

Also named by ALK, CSX, DAL, LUV, UAL, UNP

CORSIA

subject tonamed as a risk
We expect compliance with CORSIA and the ETS to increase FedEx operating expenses.Business (Item 1)

Also named by ALK, DAL, LUV, UAL, UPS, WLFC

FAA pilot flight and duty time regulations (2011)

subject tonamed as a risk
Required compliance with the 2011 regulations could impose substantial costs on us in order to maintain operational reliability and manage pilot fatigue.Risk factors (Item 1A)

EU Emissions Trading Scheme (ETS)

subject tonamed as a risk
We expect compliance with CORSIA and the ETS to increase FedEx operating expenses.Business (Item 1)

Civil Reserve Air Fleet (CRAF)

earns from
Under this program, the U.S. Department of Defense may requisition for military use certain of FedEx’s wide-bodied aircraft in the event of a declared need, including a national emergency.Business (Item 1)

Also named by UPS

California Air Resources Board Advanced Clean Fleets rule

subject to
In October 2023, the California Air Resources Board’s (“CARB”) Advanced Clean Fleets (“ACF”) rule requiring subject companies to add an increasing percentage of medium and heavy duty zero emission trucks became effective.Business (Item 1)