XML 50 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Earnings (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Airfreight services $ 2,600,916 $ 2,893,474 $ 2,821,828
Ocean freight and ocean services 1,974,891 1,878,595 1,955,400
Customs brokerage and other services 1,405,136 1,378,429 1,190,345
Total revenues 5,980,943 6,150,498 5,967,573
Operating Expenses:      
Airfreight consolidation 1,983,696 2,193,122 2,181,598
Ocean freight consolidation 1,542,170 1,443,170 1,569,877
Customs brokerage and other services 630,979 617,729 523,312
Salaries and related costs 995,052 993,358 894,132
Rent and occupancy costs 88,044 84,665 77,209
Depreciation and amortization 39,940 36,776 36,900
Selling and promotion 34,184 38,974 32,055
Other 136,080 124,377 105,260
Total operating expenses 5,450,145 5,532,171 5,420,343
Operating income 530,798 618,327 547,230
Other Income (Expense):      
Interest income 12,763 10,235 7,002
Interest expense (1,251) (970) (576)
Other, net 8,083 10,436 10,412
Other income, net 19,595 19,701 16,838
Earnings before income taxes 550,393 638,028 564,068
Income tax expense 217,424 251,785 219,863
Net earnings 332,969 386,243 344,205
Less net (losses) earnings attributable to the noncontrolling interest (391) 564 33
Net earnings attributable to shareholders $ 333,360 $ 385,679 $ 344,172
Diluted earnings attributable to shareholders per share $ 1.57 $ 1.79 $ 1.59
Basic earnings attributable to shareholders per share $ 1.58 $ 1.82 $ 1.62
Weighted average diluted shares outstanding 211,935,171 215,033,580 216,446,656
Weighted average basic shares outstanding 210,422,945 212,117,511 212,283,966