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Condensed Consolidated Statements of Earnings (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Airfreight services $ 749,861 $ 732,881 $ 1,450,784 $ 1,292,264
Ocean freight and ocean services 486,831 493,613 926,972 874,857
Customs brokerage and other services 344,676 290,276 664,460 550,758
Total revenues 1,581,368 1,516,770 3,042,216 2,717,879
Operating Expenses:        
Airfreight consolidation 576,280 571,023 1,100,916 998,365
Ocean freight consolidation 377,805 400,729 717,354 701,819
Customs brokerage and other services 154,722 126,160 297,470 237,014
Salaries and related costs 249,114 221,105 486,929 420,953
Rent and occupancy costs 21,354 18,699 42,735 37,926
Depreciation and amortization 9,257 9,110 18,431 18,505
Selling and promotion 10,022 7,550 19,185 14,585
Other 30,539 23,898 59,691 49,675
Total operating expenses 1,429,093 1,378,274 2,742,711 2,478,842
Operating income 152,275 138,496 299,505 239,037
Other Income (Expense):        
Interest income 2,312 1,484 4,632 3,259
Interest expense (229) (151) (443) (238)
Other, net 857 10,288 1,974 10,897
Other income, net 2,940 11,621 6,163 13,918
Earnings before income taxes 155,215 150,117 305,668 252,955
Income tax expense 60,195 59,708 119,441 101,236
Net earnings 95,020 90,409 186,227 151,719
Less: net earnings (losses) attributable to the noncontrolling interest 20 91 (5) 154
Net earnings attributable to shareholders $ 95,000 $ 90,318 $ 186,232 $ 151,565
Diluted earnings attributable to shareholders per share $ 0.44 $ 0.42 $ 0.86 $ 0.70
Basic earnings attributable to shareholders per share $ 0.45 $ 0.43 $ 0.88 $ 0.71
Dividends declared and paid per common share $ 0.25 $ 0.20 $ 0.25 $ 0.20
Weighted average diluted shares outstanding 215,659,043 216,460,977 215,780,230 216,576,596
Weighted average basic shares outstanding 212,136,164 212,332,375 212,112,643 212,262,928