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Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment

Financial information regarding 2024, 2023 and 2022 operations by the Company’s designated geographic areas is as follows:


	UNITED STATES			OTHER NORTH AMERICA		LATIN AMERICA		NORTH ASIA		SOUTH ASIA		EUROPE		MIDDLE EAST, AFRICA AND INDIA		ELIMINATIONS			CONSOLIDATED
2024
Revenues	$	3,251,998			429,280		214,999		2,934,353		1,391,131		1,700,919		683,191		(5,356	)		10,600,515
Directly related cost of transportation and other expenses 1	$	1,733,087			248,425		126,413		2,383,627		1,098,448		1,092,478		506,482		(2,242	)		7,186,718
Salaries and related costs	$	974,911			79,481		38,337		158,201		106,183		329,757		75,784		-			1,762,654
Other operating expenses2	$	64,558			59,863		31,454		154,322		84,267		166,119		52,371		(3,134	)		609,820
Operating income	$	479,442			41,511		18,795		238,203		102,233		112,565		48,554		20			1,041,323
Identifiable assets at period end	$	2,565,372			171,872		104,172		582,331		338,759		753,064		270,356		(31,468	)		4,754,458
Capital expenditures	$	24,249			2,393		487		1,250		4,239		5,977		1,871					40,466
Depreciation and amortization	$	36,240			2,120		1,104		5,032		2,016		11,277		3,301					61,090
Equity	$	1,500,901			43,155		42,535		228,747		119,823		174,536		156,748		(40,661	)		2,225,784
2023
Revenues	$	3,311,327			436,331		197,344		2,180,808		865,261		1,808,624		505,194		(4,779	)		9,300,110
Directly related cost of transportation and other expenses 1	$	1,809,526			270,080		117,376		1,700,025		612,606		1,200,753		345,873		(2,239	)		6,054,000
Salaries and related costs	$	946,527			76,398		37,689		145,166		95,895		329,403		69,438		-			1,700,516
Other operating expenses2	$	91,470			66,839		31,906		127,908		79,875		163,932		46,272		(2,541	)		605,661
Operating income	$	463,804			23,014		10,373		207,709		76,885		114,536		43,611		1			939,933
Identifiable assets at period end	$	2,595,576			174,509		109,380		449,529		237,470		721,259		256,199		(20,113	)		4,523,809
Capital expenditures	$	23,845			1,247		442		1,534		971		7,830		3,445					39,314
Depreciation and amortization	$	44,039			1,879		1,123		4,597		1,940		11,313		2,869					67,760
Equity	$	1,774,874			19,222		54,581		158,329		103,573		167,141		154,038		(40,345	)		2,391,413
2022
Revenues	$	4,869,364			517,662		257,721		5,810,088		2,144,034		2,471,456		1,005,489		(4,530	)		17,071,284
Directly related cost of transportation and other expenses 1	$	2,943,232			310,206		160,273		4,853,902		1,751,187		1,768,102		791,887		(1,892	)		12,576,897
Salaries and related costs	$	1,112,186			82,006		40,594		251,059		132,051		355,772		82,719		-			2,056,387
Other operating expenses2	$	(168,136	)		106,186		31,583		253,746		106,607		217,826		68,350		(2,533	)		613,629
Operating income 3	$	982,082			19,264		25,271		451,381		154,189		129,756		62,533		(105	)		1,824,371
Identifiable assets at period end	$	3,070,697			209,516		123,003		675,022		316,777		938,660		283,872		(27,113	)		5,590,434
Capital expenditures	$	56,411			2,954		937		2,976		1,543		17,868		4,135					86,824
Depreciation and amortization	$	35,461			1,892		1,123		4,682		1,966		9,640		2,574					57,338
Equity	$	2,246,417			31,132		56,416		274,703		136,944		263,278		145,269		(40,624	)		3,113,535

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 consolidated statements of earnings.

Other operating expenses totals rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the consolidated statements of earnings.

In 2022, Other North America operating income includes charges of $22 million related to non-income tax contingencies.

Schedule of Revenues Operating Income and Long-lived Assets Attributed to Material Foreign Countries

Other than the United States, only the People’s Republic of China, including Hong Kong, represented more than 10% of the Company’s total revenue, total operating income, total identifiable assets or equity in any period presented as noted in the table below.


	2024			2023			2022
Revenues		22	%		18	%		27	%
Operating income		17	%		17	%		19	%
Identifiable assets at year end		10	%		8	%		10	%
Equity		9	%		5	%		7	%