Business Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

Financial information regarding 2015, 2014 and 2013 operations by the Company’s designated geographic areas is as follows:

	United States		Other North America
2015
Revenues from unaffiliated customers	$	1,763,361	226,284
Transfers between geographic areas	118,884		13,383
Total revenues	$	1,882,245	239,667
Net revenues1	$	906,780	124,381
Operating income	$	245,257	46,846
Identifiable assets at year end	$	1,202,532	111,549
Capital expenditures	$	26,807	3,915
Depreciation and amortization	$	29,532	1,331
Equity	$	986,330	70,932
2014
Revenues from unaffiliated customers	$	1,694,819	218,735
Transfers between geographic areas	97,028		10,891
Total revenues	$	1,791,847	229,626
Net revenues1	$	823,111	108,631
Operating income	$	221,166	36,475
Identifiable assets at year end	$	1,408,598	111,324
Capital expenditures	$	19,610	1,439
Depreciation and amortization	$	31,553	1,170
Equity	$	1,165,488	54,338
2013
Revenues from unaffiliated customers	$	1,561,468	215,968
Transfers between geographic areas	89,570		11,038
Total revenues	$	1,651,038	227,006
Net revenues1	$	770,519	102,864
Operating income	$	195,799	35,224
Identifiable assets at year end	$	1,582,557	104,735
Capital expenditures	$	28,699	1,870
Depreciation and amortization	$	29,569	882
Equity	$	1,330,262	72,772

	Latin America	North Asia	South Asia	Europe	Middle East, Africa and India	Elimi-nations		Consoli-dated
2015
Revenues from unaffiliated customers	94,229	2,557,398	677,628	958,827	338,905	—		6,616,632
Transfers between geographic areas	19,158	21,722	25,018	42,787	21,322	(262,274	)	—
Total revenues	113,387	2,579,120	702,646	1,001,614	360,227	(262,274	)	6,616,632
Net revenues1	65,017	493,235	179,110	308,301	110,953	—		2,187,777
Operating income	19,656	245,854	69,643	65,024	29,204	—		721,484
Identifiable assets at year end	48,678	446,914	127,014	421,590	221,835	2,326		2,582,438
Capital expenditures	1,756	2,203	2,383	5,222	2,097	—		44,383
Depreciation and amortization	1,041	5,425	2,110	4,931	1,642	—		46,012
Equity	33,161	253,097	99,220	154,174	130,105	(32,343	)	1,694,676
2014
Revenues from unaffiliated customers	89,058	2,576,350	657,189	1,012,389	316,181	—		6,564,721
Transfers between geographic areas	20,634	23,020	26,579	39,541	19,654	(237,347	)	—
Total revenues	109,692	2,599,370	683,768	1,051,930	335,835	(237,347	)	6,564,721
Net revenues1	65,016	407,410	163,383	313,325	100,551	—		1,981,427
Operating income	19,855	177,496	52,596	62,101	24,959	—		594,648
Identifiable assets at year end	53,815	513,649	141,499	447,349	208,684	5,987		2,890,905
Capital expenditures	1,574	5,955	3,118	4,246	1,530	—		37,472
Depreciation and amortization	911	5,938	2,295	5,690	1,735	—		49,292
Equity	34,386	262,295	99,234	169,117	121,520	(34,770	)	1,871,608
2013
Revenues from unaffiliated customers	86,050	2,444,331	601,708	876,967	293,765	—		6,080,257
Transfers between geographic areas	21,711	22,505	24,073	38,728	16,698	(224,323	)	—
Total revenues	107,761	2,466,836	625,781	915,695	310,463	(224,323	)	6,080,257
Net revenues1	61,478	396,395	164,505	288,407	98,685	—		1,882,853
Operating income	15,734	169,252	54,728	53,294	28,042	—		552,073
Identifiable assets at year end	58,027	527,859	140,173	414,710	180,646	6,105		3,014,812
Capital expenditures	1,010	15,344	1,887	3,313	1,288	—		53,411
Depreciation and amortization	901	6,078	2,303	6,569	1,769	—		48,071
Equity	29,590	305,883	100,845	178,729	102,628	(34,378	)	2,086,331

_______________________

¹Net revenues are a non-GAAP measure calculated as revenues less directly related operations expenses attributable to the Company's principal services. The Company's management believes that net revenues are a better measure than total revenues when evaluating the Company's operating segment performance since total revenues earned as a freight consolidator include the carriers' charges for carrying the shipment, whereas revenues earned in other capacities include primarily the commissions and fees earned by the Company. Net revenue is one of the Company's primary operational and financial measures and demonstrates the Company's ability to concentrate and leverage purchasing power through effective consolidation of shipments from customers utilizing a variety of transportation carriers and optimal routings.

The following table presents the calculation of net revenues:

Years ended December 31,	2015		2014	2013
Revenues:
Total revenues	$	6,616,632	6,564,721	6,080,257
Expenses:
Airfreight services	1,987,690		2,103,777	1,994,374
Ocean freight and ocean services	1,648,993		1,712,795	1,521,340
Customs brokerage and other services	792,172		766,722	681,690
Net revenues	$	2,187,777	1,981,427	1,882,853

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, net revenue, total identifiable assets or equity in any period presented as noted in the table below.

	2015		2014		2013
Total revenues	32	%	33	%	33	%
Net revenues	19	%	16	%	16	%
Identifiable assets at year end	13	%	14	%	14	%
Equity	10	%	9	%	11	%