The following table shows FedEx Corporation's fiscal 2021 free cash flow and adjusted free cash flow reconciled to the most directly comparable GAAP measure.

Fiscal 2021 Free Cash Flow and Adjusted Free Cash Flow

Dollars in millions

Cash provided by operating activities (GAAP)

Capital expenditures

Free cash flow (non‐GAAP)

Voluntary contributions to tax‐qualified U.S. domestic pension plans

Adjusted free cash flow (non‐GAAP)

Fiscal 2021

$10,135

(5,884)

4,251

300

$4,551

Free cash flow and adjusted free cash flow are not defined under U.S. generally accepted accounting principles (GAAP). Therefore, they should not be considered a substitute for income or cash flow data prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies. It should not be inferred that the company's non‐GAAP free cash flow and adjusted free cash flow measures represent amounts available for discretionary expenditures.

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FedEx Corporation published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 12:43:07 UTC.