FedEx Corp. said it recorded a non-cash pretax charge of $4.88 a share for the final quarter of its just-ended fiscal year amid a change in pension accounting.
The move to mark-to-market accounting won’t affect funding requirements for any retirement programs or corporate cash flows, FedEx said Friday in a statement. Employees’ pension benefits won’t be affected, FedEx said.
The charge amounts to an estimated $2.2 billion, FedEx said. FedEx, the operator of the world’s largest cargo airline, is scheduled to report fiscal fourth-quarter results next week.