UPS had a $1.237B mark-to-market charge (loss) in Q4'18, $800M charger in Q4'17, and $2.651B charge in Q4'16.
FDX, on the other hand, had MTM gains of $10M in 2018, gains of $24M in 2017, and a charge of $1.5B in 2016.
Operationally, despite challenges with TNT integration and 'business realignment' FDX is still quite operationally profitable ($4.47B full year, 6.4% margin) - they just happened to take a significant accounting charge this time.