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  3. 4. what is the total of fedexs financing lease cos

4. What is the total of Fedexs financing lease costs in fiscal year 2023? 5....

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Accounting

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4. What is the total of Fedexs financing lease costs in fiscal year 2023?

5. Explain why Fedexs financing leases have interest expense associated with them, and why its operating leases do not record interest expense?

The following table is a summary of the components of net lease cost for the period ended May 31 (in millions): \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{ Operating leases: } & \multicolumn{2}{|c|}{2023} & \multicolumn{2}{|c|}{2022} \\ \hline & & & & \\ \hline Operating lease right-of-use assets, net & $ & 17,347 & $ & 16,613 \\ \hline Current portion of operating lease liabilities & & 2,390 & & 2,443 \\ \hline Operating lease liabilities & & 15,363 & & 14,487 \\ \hline Total operating lease liabilities & $ & 17,753 & $ & 16,930 \\ \hline \multicolumn{5}{|l|}{ Finance leases: } \\ \hline Net property and equipment & $ & 821 & $ & 455 \\ \hline Current portion of long-term debt & & 75 & & 32 \\ \hline Long-term debt, less current portion & & 725 & & 436 \\ \hline Total finance lease liabilities & $ & 800 & s & 468 \\ \hline \end{tabular}

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