Refer to the 2020 financial statements and related disclosure notes of FedEx Corporation. The financial statements can be found at the company’s website (www.fedex.com).

Required:
1. Does FedEx sponsor defined benefit pension plans for its employees? Defined contribution plans? Postretirement
health care plans?
2. What amount does FedEx report in its balance sheet in 2020 for its U.S. pension plans?
3. What amount does FedEx report in its balance sheet in 2020 for its postretirement health care plans?
4. FedEx reports three actuarial assumptions used to determine reported pension amounts. What were the discount rate and rate of increase in future compensation levels used to determine the projected benefit obligation in 2020?
5. Did reported changes in the discount rate from the previous year increase, decrease, or have no effect on the projected benefit obligation?
6. Did reported changes in the rate of increase in future compensation levels from the previous year increase,
decrease, or have no effect on the projected benefit obligation?