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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,190,001 $ 4,362,146 $ 7,022,342 $ 13,629,756
Operating Expenses:        
Directly related cost of transportation and other expenses [1] 1,402,111 3,194,273 4,540,396 10,151,332
Salaries and related 412,505 499,341 1,290,911 1,546,503
Rent and occupancy 58,387 52,715 174,224 155,241
Depreciation and amortization 15,607 15,187 46,374 42,416
Selling and promotion 6,149 6,239 18,847 16,174
Other 79,173 67,468 211,055 223,425
Total operating expenses 1,973,932 3,835,223 6,281,807 12,135,091
Operating income 216,069 526,923 740,535 1,494,665
Other Income (Expense):        
Interest income 17,156 7,835 53,723 12,447
Interest Expense (1,601) (470) (4,641) (1,031)
Other, net 267 568 9,035 8,762
Other income, net 15,822 7,933 58,117 20,178
Earnings before income taxes 231,891 534,856 798,652 1,514,843
Income tax expense 61,048 120,694 206,018 368,975
Net earnings 170,843 414,162 592,634 1,145,868
Less net (losses) earnings attributable to the noncontrolling interest (510) (47) (1,530) 7,745
Net earnings attributable to shareholders $ 171,353 $ 414,209 $ 594,164 $ 1,138,123
Diluted earnings attributable to shareholders per share $ 1.16 $ 2.54 $ 3.92 $ 6.84
Basic earnings attributable to shareholders per share $ 1.16 $ 2.56 $ 3.95 $ 6.9
Weighted average diluted shares outstanding 148,001 163,250 151,619 166,398
Weighted average basic shares outstanding 147,099 162,029 150,543 164,944
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 724,331 $ 1,480,955 $ 2,380,405 $ 4,682,076
Operating Expenses:        
Directly related cost of transportation and other expenses 516,519 1,104,812 1,707,568 3,459,861
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 560,281 1,684,579 1,851,389 5,420,471
Operating Expenses:        
Directly related cost of transportation and other expenses 387,670 1,343,355 1,277,159 4,345,963
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 905,389 1,196,612 2,790,548 3,527,209
Operating Expenses:        
Directly related cost of transportation and other expenses $ 497,922 $ 746,106 $ 1,555,669 $ 2,345,508
[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.