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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,439,001 $ 2,239,752 $ 4,645,679 $ 4,832,341
Operating Expenses:        
Directly related cost of transportation and other expenses [1] 1,639,408 1,419,182 3,072,688 3,138,284
Salaries and related 426,431 428,558 839,593 878,406
Rent and occupancy 59,597 58,205 120,849 115,837
Depreciation and amortization 14,979 15,506 30,140 30,767
Selling and promotion 7,998 6,314 14,777 12,698
Other 66,669 63,489 128,937 131,882
Total operating expenses 2,215,082 1,991,255 4,206,984 4,307,875
Operating income 223,919 248,497 438,695 524,466
Other Income (Expense):        
Interest income 11,904 17,792 26,782 36,567
Other, net 98 (106) 3,626 5,728
Other income, net 12,002 17,686 30,408 42,295
Earnings before income taxes 235,921 266,183 469,103 566,761
Income tax expense 60,770 70,390 123,552 144,970
Net earnings 175,151 195,793 345,551 421,791
Less net (losses) earnings attributable to the noncontrolling interest (318) (1,007) 930 (1,020)
Net earnings attributable to shareholders $ 175,469 $ 196,800 $ 344,621 $ 422,811
Diluted earnings attributable to shareholders per share $ 1.24 $ 1.3 $ 2.41 $ 2.75
Basic earnings attributable to shareholders per share $ 1.24 $ 1.31 $ 2.43 $ 2.78
Weighted average diluted shares outstanding 141,716 151,563 142,928 153,516
Weighted average basic shares outstanding 141,013 150,435 142,104 152,291
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 860,323 $ 751,171 $ 1,619,697 $ 1,656,074
Operating Expenses:        
Directly related cost of transportation and other expenses 645,168 525,027 1,182,759 1,191,049
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 651,675 593,801 1,222,461 1,291,108
Operating Expenses:        
Directly related cost of transportation and other expenses 478,121 405,807 892,104 889,489
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 927,003 894,780 1,803,521 1,885,159
Operating Expenses:        
Directly related cost of transportation and other expenses $ 516,119 $ 488,349 $ 997,825 $ 1,057,747
[1] Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings.