XML 30 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 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Airfreight services $ 622,678 $ 736,946 $ 1,900,131 $ 2,187,730
Ocean freight and ocean services 549,250 510,521 1,502,584 1,437,493
Customs brokerage and other services 359,736 358,901 1,045,271 1,023,361
Total revenues 1,531,664 1,606,368 4,447,986 4,648,584
Operating Expenses:        
Airfreight consolidation 471,947 558,047 1,437,301 1,658,963
Ocean freight consolidation 432,518 392,249 1,177,919 1,109,603
Customs brokerage and other services 162,061 162,226 467,406 459,696
Salaries and related costs 252,899 258,512 748,956 745,441
Rent and occupancy costs 21,304 21,352 63,333 64,087
Depreciation and amortization 10,030 9,199 29,245 27,630
Selling and promotion 7,847 9,342 25,370 28,527
Other 27,959 31,683 95,683 91,374
Total operating expenses 1,386,565 1,442,610 4,045,213 4,185,321
Operating income 145,099 163,758 402,773 463,263
Other Income (Expense):        
Interest income 2,831 2,888 9,241 7,520
Interest expense (182) (279) (1,024) (722)
Other, net 1,232 10,792 6,011 12,766
Other income, net 3,881 13,401 14,228 19,564
Earnings before income taxes 148,980 177,159 417,001 482,827
Income tax expense 60,253 70,283 167,531 189,724
Net earnings 88,727 106,876 249,470 293,103
Less net earnings attributable to the noncontrolling interest 237 272 318 267
Net earnings attributable to shareholders $ 88,490 $ 106,604 $ 249,152 $ 292,836
Diluted earnings attributable to shareholders per share $ 0.42 $ 0.50 $ 1.17 $ 1.36
Basic earnings attributable to shareholders per share $ 0.42 $ 0.50 $ 1.18 $ 1.38
Dividends declared and paid per common share $ 0.00 $ 0.00 $ 0.28 $ 0.25
Weighted average diluted shares outstanding 211,397,602 214,717,451 212,916,309 215,376,675
Weighted average basic shares outstanding 210,135,763 212,256,119 211,314,850 212,160,994