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Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information, by Segment

Financial information regarding 2023, 2022 and 2021 operations by the Company’s designated geographic areas is as follows:


	UNITED STATES		OTHER NORTH AMERICA		LATIN AMERICA		NORTH ASIA		SOUTH ASIA		EUROPE		MIDDLE EAST, AFRICA AND INDIA		ELIMINATIONS			CONSOLIDATED
2023
Revenues	$	3,311,327		436,331		197,344		2,180,808		865,261		1,808,624		505,194		(4,779	)		9,300,110
Directly related cost of transportation and other expenses 1	$	1,809,526		270,080		117,376		1,700,025		612,606		1,200,753		345,873		(2,239	)		6,054,000
Salaries and other operating expenses 2	$	1,037,997		143,237		69,595		273,074		175,770		493,335		115,710		(2,541	)		2,306,177
Operating income	$	463,804		23,014		10,373		207,709		76,885		114,536		43,611		1			939,933
Identifiable assets at period end	$	2,595,576		174,509		109,380		449,529		237,470		721,259		256,199		(20,113	)		4,523,809
Capital expenditures	$	23,845		1,247		442		1,534		971		7,830		3,445		—			39,314
Depreciation and amortization	$	44,039		1,879		1,123		4,597		1,940		11,313		2,869		—			67,760
Equity	$	1,774,874		19,222		54,581		158,329		103,573		167,141		154,038		(40,345	)		2,391,413
2022
Revenues	$	4,869,364		517,662		257,721		5,810,088		2,144,034		2,471,456		1,005,489		(4,530	)		17,071,284
Directly related cost of transportation and other expenses 1	$	2,943,232		310,206		160,273		4,853,902		1,751,187		1,768,102		791,887		(1,892	)		12,576,897
Salaries and other operating expenses 2	$	944,050		188,192		72,177		504,805		238,658		573,598		151,069		(2,533	)		2,670,016
Operating income 3	$	982,082		19,264		25,271		451,381		154,189		129,756		62,533		(105	)		1,824,371
Identifiable assets at period end	$	3,070,697		209,516		123,003		675,022		316,777		938,660		283,872		(27,113	)		5,590,434
Capital expenditures	$	56,411		2,954		937		2,976		1,543		17,868		4,135		—			86,824
Depreciation and amortization	$	35,461		1,892		1,123		4,682		1,966		9,640		2,574		—			57,338
Equity	$	2,246,417		31,132		56,416		274,703		136,944		263,278		145,269		(40,624	)		3,113,535
2021
Revenues	$	4,344,825		440,226		209,161		6,363,054		2,046,569		2,258,911		865,509		(4,738	)		16,523,517
Directly related cost of transportation and other expenses 1	$	2,491,947		245,842		125,940		5,295,612		1,666,792		1,558,705		675,303		(1,986	)		12,058,155
Salaries and other operating expenses 2	$	1,019,236		123,147		57,779		515,703		204,574		494,760		143,581		(2,744	)		2,556,036
Operating income	$	833,642		71,237		25,442		551,739		175,203		205,446		46,625		(8	)		1,909,326
Identifiable assets at period end	$	3,699,748		265,872		122,327		1,587,659		572,980		1,089,963		350,843		(79,463	)		7,609,929
Capital expenditures	$	19,527		983		471		1,786		2,057		9,507		1,916		—			36,247
Depreciation and amortization	$	29,826		1,780		1,079		5,047		1,965		9,228		2,387		—			51,312
Equity	$	2,599,804		111,952		41,743		224,765		140,129		294,348		123,598		(38,348	)		3,497,991

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 consolidated statements of earnings.

Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the consolidated statements of earnings.

In 2022, Other North America operating income includes charges of $22 million related to non-income tax contingencies.

Schedule of Revenues Operating Income and Long-lived Assets Attributed to Material Foreign Countries

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


	2023	2022	2021
Revenues	18%	27%	31%
Operating income	17%	19%	22%
Identifiable assets at year end	8%	10%	17%
Equity	5%	7%	4%