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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,000,131 $ 2,190,001 $ 7,645,810 $ 7,022,342
Operating Expenses:        
Directly related cost of transportation and other expenses [1] 2,093,964 1,402,111 5,166,652 4,540,396
Salaries and related 450,308 412,505 1,289,901 1,290,911
Rent and occupancy 61,024 58,387 181,873 174,224
Depreciation and amortization 15,774 15,607 45,914 46,374
Selling and promotion 7,589 6,149 22,366 18,847
Other 69,948 79,173 198,885 211,055
Total operating expenses 2,698,607 1,973,932 6,905,591 6,281,807
Operating income 301,524 216,069 740,219 740,535
Other Income (Expense):        
Interest income 9,917 17,156 36,699 53,723
Other, net 973 (1,334) 4,599 4,394
Other income, net 10,890 15,822 41,298 58,117
Earnings before income taxes 312,414 231,891 781,517 798,652
Income tax expense 82,488 61,048 206,040 206,018
Net earnings 229,926 170,843 575,477 592,634
Less net earnings (losses) attributable to the noncontrolling interest 352 (510) 1,282 (1,530)
Net earnings attributable to shareholders $ 229,574 $ 171,353 $ 574,195 $ 594,164
Diluted earnings attributable to shareholders per share $ 1.63 $ 1.16 $ 4.04 $ 3.92
Basic earnings attributable to shareholders per share $ 1.63 $ 1.16 $ 4.06 $ 3.95
Weighted average diluted shares outstanding 141,027 148,001 142,288 151,619
Weighted average basic shares outstanding 140,417 147,099 141,540 150,543
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 986,950 $ 724,331 $ 2,606,647 $ 2,380,405
Operating Expenses:        
Directly related cost of transportation and other expenses 740,356 516,519 1,923,115 1,707,568
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 1,017,618 560,281 2,240,079 1,851,389
Operating Expenses:        
Directly related cost of transportation and other expenses 783,827 387,670 1,675,931 1,277,159
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 995,563 905,389 2,799,084 2,790,548
Operating Expenses:        
Directly related cost of transportation and other expenses $ 569,781 $ 497,922 $ 1,567,606 $ 1,555,669
[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.