XML 31 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Earnings (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Airfreight services $ 638,541 $ 749,861 $ 1,277,453 $ 1,450,784
Ocean freight and ocean services 518,998 486,831 953,334 926,972
Customs brokerage and other services 347,413 344,676 685,535 664,460
Total revenues 1,504,952 1,581,368 2,916,322 3,042,216
Operating Expenses:        
Airfreight consolidation 484,311 576,280 965,354 1,100,916
Ocean freight consolidation 413,447 377,805 745,401 717,354
Customs brokerage and other services 153,543 154,722 305,345 297,470
Salaries and related costs 249,925 249,114 496,057 486,929
Rent and occupancy costs 20,853 21,354 42,029 42,735
Depreciation and amortization 9,670 9,257 19,215 18,431
Selling and promotion 8,860 10,022 17,523 19,185
Other 31,940 30,539 67,724 59,691
Total operating expenses 1,372,549 1,429,093 2,658,648 2,742,711
Operating income 132,403 152,275 257,674 299,505
Other Income (Expense):        
Interest income 3,050 2,312 6,410 4,632
Interest expense (222) (229) (842) (443)
Other, net 3,682 857 4,779 1,974
Other income, net 6,510 2,940 10,347 6,163
Earnings before income taxes 138,913 155,215 268,021 305,668
Income tax expense 54,892 60,195 107,278 119,441
Net earnings 84,021 95,020 160,743 186,227
Less net earnings (losses) attributable to the noncontrolling interest 66 20 81 (5)
Net earnings attributable to shareholders $ 83,955 $ 95,000 $ 160,662 $ 186,232
Diluted earnings attributable to shareholders per share $ 0.39 $ 0.44 $ 0.75 $ 0.86
Basic earnings attributable to shareholders per share $ 0.40 $ 0.45 $ 0.76 $ 0.88
Dividends declared and paid per common share $ 0.28 $ 0.25 $ 0.28 $ 0.25
Weighted average diluted shares outstanding 213,212,912 215,659,043 213,683,587 215,780,230
Weighted average basic shares outstanding 211,724,082 212,136,164 211,910,872 212,112,643