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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax $ 9,300,110 $ 17,071,284 $ 16,523,517
Operating Expenses:      
Directly related cost of transportation and other expenses [1] 6,054,000 12,576,897 12,058,155
Salaries and related costs 1,700,516 2,056,387 2,062,351
Rent and occupancy costs 232,358 209,532 186,287
Depreciation and amortization 67,760 57,338 51,312
Selling and promotion 27,913 24,293 16,026
Other 277,630 322,466 240,060
Total operating expenses 8,360,177 15,246,913 14,614,191
Operating income 939,933 [2] 1,824,371 1,909,326
Other Income (Expense):      
Interest income 70,451 25,554 8,807
Interest expense (4,800) (23,277) (411)
Other, net 9,444 9,243 6,894
Other income, net 75,095 11,520 15,290
Earnings before income taxes 1,015,028 1,835,891 1,924,616
Income tax expense 263,249 475,286 505,771
Net earnings 751,779 1,360,605 1,418,845
Less net (losses) earnings attributable to the noncontrolling interest (1,104) 3,206 3,353
Net earnings attributable to shareholders $ 752,883 $ 1,357,399 $ 1,415,492
Diluted earnings attributable to shareholders per share $ 5.01 $ 8.26 $ 8.27
Basic earnings attributable to shareholders per share $ 5.05 $ 8.33 $ 8.37
Weighted average diluted shares outstanding 150,186 164,427 171,250
Weighted average basic shares outstanding 149,141 163,010 169,145
Airfreight services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,246,527 $ 5,886,886 $ 6,771,402
Operating Expenses:      
Directly related cost of transportation and other expenses 2,347,293 4,359,726 5,067,380
Ocean freight and ocean services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax 2,363,243 6,544,559 5,545,818
Operating Expenses:      
Directly related cost of transportation and other expenses 1,634,947 5,188,066 4,364,160
Customs brokerage and other services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax 3,690,340 4,639,839 4,206,297
Operating Expenses:      
Directly related cost of transportation and other expenses $ 2,071,760 $ 3,029,105 $ 2,626,615
[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 consolidated statements of earnings.
[2] In 2022, Other North America operating income includes charges of $22 million related to non-income tax contingencies.