Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Segment Reporting Information, by Segment

Financial information regarding the Company’s operations by geographic area is as follows:

	UNITED STATES		OTHER NORTH AMERICA		LATIN AMERICA		NORTH ASIA		SOUTH ASIA		EUROPE		MIDDLE EAST, AFRICA AND INDIA		ELIMI- NATIONS			CONSOLI- DATED
For the three months ended June 30, 2020:
Revenues¹	$	639,231		74,314		37,553		1,117,058		224,313		387,430		101,611		(878	)		2,580,632
Directly related cost of transportation and other expenses²	$	354,624		41,449		22,701		907,915		160,355		271,540		72,908		(451	)		1,831,041
Salaries and other operating expenses³	$	207,703		25,283		12,112		97,171		39,184		95,757		25,188		(433	)		501,965
Operating income	$	76,904		7,582		2,740		111,972		24,774		20,133		3,515		6			247,626
Identifiable assets at period end	$	1,886,463		170,873		72,912		669,335		213,007		581,988		221,381		(5,782	)		3,810,177
Capital expenditures	$	19,076		1,148		216		385		182		993		114		—			22,114
Equity	$	1,399,124		71,165		29,758		306,022		108,777		168,060		116,279		(37,587	)		2,161,598
For the three months ended June 30, 2019:
Revenues¹	$	681,076		85,537		38,757		621,951		181,380		319,331		108,311		(764	)		2,035,579
Directly related cost of transportation and other expenses²	$	386,093		50,336		22,043		487,554		132,487		220,676		75,089		(394	)		1,373,884
Salaries and other operating expenses³	$	207,060		26,343		14,368		69,944		33,380		89,340		29,423		(364	)		469,494
Operating income	$	87,923		8,858		2,346		64,453		15,513		9,315		3,799		(6	)		192,201
Identifiable assets at period end	$	1,819,718		176,151		73,197		580,311		193,771		581,518		229,692		(7,368	)		3,646,990
Capital expenditures	$	8,985		768		145		300		428		1,914		447		—			12,987
Equity	$	1,303,381		83,417		31,014		282,192		107,229		168,570		109,790		(33,199	)		2,052,394

	UNITED STATES		OTHER NORTH AMERICA		LATIN AMERICA		NORTH ASIA		SOUTH ASIA		EUROPE		MIDDLE EAST, AFRICA AND INDIA		ELIMI- NATIONS			CONSOLI- DATED
For the six months ended June 30, 2020:
Revenues¹	$	1,289,638		156,145		75,443		1,655,013		393,355		708,070		206,650		(1,818	)		4,482,496
Directly related cost of transportation and other expenses²	$	728,585		87,339		46,466		1,333,216		281,637		493,538		147,884		(896	)		3,117,769
Salaries and other operating expenses³	$	433,647		48,995		23,861		154,604		69,092		177,611		51,138		(902	)		958,046
Operating income	$	127,406		19,811		5,116		167,193		42,626		36,921		7,628		(20	)		406,681
Identifiable assets at period end	$	1,886,463		170,873		72,912		669,335		213,007		581,988		221,381		(5,782	)		3,810,177
Capital expenditures	$	23,573		1,209		318		710		370		1,638		423		—			28,241
Equity	$	1,399,124		71,165		29,758		306,022		108,777		168,060		116,279		(37,587	)		2,161,598
For the six months ended June 30, 2019:
Revenues¹	$	1,340,859		176,947		72,936		1,254,804		358,559		632,021		220,986		(1,482	)		4,055,630
Directly related cost of transportation and other expenses²	$	753,448		106,576		41,158		986,200		262,298		436,571		154,592		(1,022	)		2,739,821
Salaries and other operating expenses³	$	425,475		50,553		26,796		138,371		64,841		172,183		58,234		(446	)		936,007
Operating income	$	161,936		19,818		4,982		130,233		31,420		23,267		8,160		(14	)		379,802
Identifiable assets at period end	$	1,819,718		176,151		73,197		580,311		193,771		581,518		229,692		(7,368	)		3,646,990
Capital expenditures	$	15,900		996		238		644		604		2,896		1,144		—			22,422
Equity	$	1,303,381		83,417		31,014		282,192		107,229		168,570		109,790		(33,199	)		2,052,394

Beginning in the second quarter of 2019, the Company revised its process to record the transfer, between its geographic operating segments, of revenues and the directly related cost of transportation and other expenses for freight service transactions between Company origin and destination locations. This change better aligns revenue reporting with the location where the services are performed, as well as the transactional reporting being developed as part of the Company’s new accounting systems and processes. The change in presentation had no impact on consolidated or segment operating income. The impact of these changes on reported segment revenues was immaterial and in the six months ended June 30, 2019, segment revenues have not been revised.

²	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.

³	Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.