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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,239,752 $ 4,603,312 $ 4,832,341 $ 9,267,610
Operating Expenses:        
Directly related cost of transportation and other expenses [1] 1,419,182 3,440,948 3,138,284 6,957,059
Salaries and related 428,558 508,222 878,406 1,047,162
Rent and occupancy 58,205 51,598 115,837 102,526
Depreciation and amortization 15,506 14,254 30,767 27,229
Selling and promotion 6,314 5,887 12,698 9,935
Other 63,489 76,421 131,882 155,957
Total operating expenses 1,991,255 4,097,330 4,307,875 8,299,868
Operating income 248,497 505,982 524,466 967,742
Other Income (Expense):        
Interest income 17,792 2,720 36,567 4,612
Interest Expense (395) (58) (3,040) (561)
Other, net 289 164 8,768 8,194
Other income, net 17,686 2,826 42,295 12,245
Earnings before income taxes 266,183 508,808 566,761 979,987
Income tax expense 70,390 126,582 144,970 248,281
Net earnings 195,793 382,226 421,791 731,706
Less net (losses) earnings attributable to the noncontrolling interest (1,007) 4,421 (1,020) 7,792
Net earnings attributable to shareholders $ 196,800 $ 377,805 $ 422,811 $ 723,914
Diluted earnings attributable to shareholders per share $ 1.3 $ 2.27 $ 2.75 $ 4.31
Basic earnings attributable to shareholders per share $ 1.31 $ 2.29 $ 2.78 $ 4.35
Weighted average diluted shares outstanding 151,563 166,474 153,516 167,980
Weighted average basic shares outstanding 150,435 165,092 152,291 166,423
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 751,171 $ 1,602,566 $ 1,656,074 $ 3,201,121
Operating Expenses:        
Directly related cost of transportation and other expenses 525,027 1,212,503 1,191,049 2,355,049
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 593,801 1,759,646 1,291,108 3,735,892
Operating Expenses:        
Directly related cost of transportation and other expenses 405,807 1,402,365 889,489 3,002,608
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 894,780 1,241,100 1,885,159 2,330,597
Operating Expenses:        
Directly related cost of transportation and other expenses $ 488,349 $ 826,080 $ 1,057,747 $ 1,599,402
[1] 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.