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Business Segment Information (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

Financial information regarding the Company’s operations by geographic area is as follows:

 

 

 

UNITED

STATES

 

 

OTHER

NORTH

AMERICA

 

 

LATIN

AMERICA

 

 

NORTH

ASIA

 

 

SOUTH

ASIA

 

 

EUROPE

 

 

MIDDLE

EAST,

AFRICA

AND

INDIA

 

 

ELIMI-

NATIONS

 

 

CONSOLI-

DATED

 

For the three months ended June 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues2

 

$

681,076

 

 

 

85,537

 

 

 

38,757

 

 

 

621,951

 

 

 

181,380

 

 

 

319,331

 

 

 

108,311

 

 

 

(764

)

 

 

2,035,579

 

Net revenues1

 

$

294,983

 

 

 

35,201

 

 

 

16,714

 

 

 

134,397

 

 

 

48,893

 

 

 

98,655

 

 

 

33,222

 

 

 

(370

)

 

 

661,695

 

Operating income

 

$

87,923

 

 

 

8,858

 

 

 

2,346

 

 

 

64,453

 

 

 

15,513

 

 

 

9,315

 

 

 

3,799

 

 

 

(6

)

 

 

192,201

 

Identifiable assets at period end

 

$

1,819,718

 

 

 

176,151

 

 

 

73,197

 

 

 

580,311

 

 

 

193,771

 

 

 

581,518

 

 

 

229,692

 

 

 

(7,368

)

 

 

3,646,990

 

Capital expenditures

 

$

8,985

 

 

 

768

 

 

 

145

 

 

 

300

 

 

 

428

 

 

 

1,914

 

 

 

447

 

 

 

 

 

 

12,987

 

Depreciation and amortization

 

$

7,687

 

 

 

459

 

 

 

380

 

 

 

1,384

 

 

 

496

 

 

 

1,775

 

 

 

496

 

 

 

 

 

 

12,677

 

Equity

 

$

1,303,381

 

 

 

83,417

 

 

 

31,014

 

 

 

282,192

 

 

 

107,229

 

 

 

168,570

 

 

 

109,790

 

 

 

(33,199

)

 

 

2,052,394

 

For the three months ended June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues2

 

$

598,076

 

 

 

84,244

 

 

 

42,618

 

 

 

680,227

 

 

 

179,528

 

 

 

330,775

 

 

 

114,005

 

 

 

(71,914

)

 

 

1,957,559

 

Net revenues1

 

$

271,880

 

 

 

34,749

 

 

 

15,923

 

 

 

140,583

 

 

 

44,886

 

 

 

102,371

 

 

 

33,125

 

 

 

(971

)

 

 

642,546

 

Operating income

 

$

63,628

 

 

 

10,077

 

 

 

2,701

 

 

 

70,359

 

 

 

13,374

 

 

 

16,958

 

 

 

6,490

 

 

 

(3

)

 

 

183,584

 

Identifiable assets at period end

 

$

1,488,060

 

 

 

153,827

 

 

 

54,186

 

 

 

540,954

 

 

 

157,479

 

 

 

526,607

 

 

 

217,716

 

 

 

(5,997

)

 

 

3,132,832

 

Capital expenditures

 

$

6,032

 

 

 

2,191

 

 

 

167

 

 

 

559

 

 

 

695

 

 

 

1,225

 

 

 

1,244

 

 

 

 

 

 

12,113

 

Depreciation and amortization

 

$

8,447

 

 

 

473

 

 

 

395

 

 

 

1,303

 

 

 

542

 

 

 

1,955

 

 

 

461

 

 

 

 

 

 

13,576

 

Equity

 

$

1,196,226

 

 

 

56,702

 

 

 

26,625

 

 

 

250,513

 

 

 

112,259

 

 

 

157,493

 

 

 

127,032

 

 

 

(34,291

)

 

 

1,892,559

 

 

 

 

UNITED

STATES

 

 

OTHER

NORTH

AMERICA

 

 

LATIN

AMERICA

 

 

NORTH

ASIA

 

 

SOUTH

ASIA

 

 

EUROPE

 

 

MIDDLE

EAST,

AFRICA

AND

INDIA

 

 

ELIMI-

NATIONS

 

 

CONSOLI-

DATED

 

For the six months ended June 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues2

 

$

1,340,859

 

 

 

176,947

 

 

 

72,936

 

 

 

1,254,804

 

 

 

358,559

 

 

 

632,021

 

 

 

220,986

 

 

 

(1,482

)

 

 

4,055,630

 

Net revenues1

 

$

587,412

 

 

 

70,370

 

 

 

31,777

 

 

 

268,604

 

 

 

96,262

 

 

 

195,450

 

 

 

66,394

 

 

 

(460

)

 

 

1,315,809

 

Operating income

 

$

161,936

 

 

 

19,818

 

 

 

4,982

 

 

 

130,233

 

 

 

31,420

 

 

 

23,267

 

 

 

8,160

 

 

 

(14

)

 

 

379,802

 

Identifiable assets at period end

 

$

1,819,718

 

 

 

176,151

 

 

 

73,197

 

 

 

580,311

 

 

 

193,771

 

 

 

581,518

 

 

 

229,692

 

 

 

(7,368

)

 

 

3,646,990

 

Capital expenditures

 

$

15,900

 

 

 

996

 

 

 

238

 

 

 

644

 

 

 

604

 

 

 

2,896

 

 

 

1,144

 

 

 

 

 

 

22,422

 

Depreciation and amortization

 

$

15,909

 

 

 

926

 

 

 

812

 

 

 

2,791

 

 

 

1,032

 

 

 

3,606

 

 

 

994

 

 

 

 

 

 

26,070

 

Equity

 

$

1,303,381

 

 

 

83,417

 

 

 

31,014

 

 

 

282,192

 

 

 

107,229

 

 

 

168,570

 

 

 

109,790

 

 

 

(33,199

)

 

 

2,052,394

 

For the six months ended June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues2

 

$

1,161,826

 

 

 

164,331

 

 

 

78,727

 

 

 

1,316,816

 

 

 

354,678

 

 

 

650,755

 

 

 

224,542

 

 

 

(139,854

)

 

 

3,811,821

 

Net revenues1

 

$

549,065

 

 

 

65,196

 

 

 

30,668

 

 

 

277,791

 

 

 

89,292

 

 

 

201,006

 

 

 

66,326

 

 

 

(960

)

 

 

1,278,384

 

Operating income

 

$

133,276

 

 

 

19,095

 

 

 

5,071

 

 

 

140,282

 

 

 

28,506

 

 

 

36,236

 

 

 

13,928

 

 

 

8

 

 

 

376,402

 

Identifiable assets at period end

 

$

1,488,060

 

 

 

153,827

 

 

 

54,186

 

 

 

540,954

 

 

 

157,479

 

 

 

526,607

 

 

 

217,716

 

 

 

(5,997

)

 

 

3,132,832

 

Capital expenditures

 

$

9,203

 

 

 

3,719

 

 

 

672

 

 

 

1,343

 

 

 

1,024

 

 

 

8,416

 

 

 

1,532

 

 

 

 

 

 

25,909

 

Depreciation and amortization

 

$

17,212

 

 

 

871

 

 

 

763

 

 

 

2,679

 

 

 

1,125

 

 

 

3,931

 

 

 

917

 

 

 

 

 

 

27,498

 

Equity

 

$

1,196,226

 

 

 

56,702

 

 

 

26,625

 

 

 

250,513

 

 

 

112,259

 

 

 

157,493

 

 

 

127,032

 

 

 

(34,291

)

 

 

1,892,559

 

 

Schedule of Net Revenues Calculation

The following table presents the calculation of consolidated net revenues:

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues

 

$

2,035,579

 

 

$

1,957,559

 

 

$

4,055,630

 

 

$

3,811,821

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Airfreight services

 

 

542,639

 

 

 

593,325

 

 

 

1,051,849

 

 

 

1,106,829

 

Ocean freight and ocean services

 

 

390,299

 

 

 

385,156

 

 

 

810,630

 

 

 

764,574

 

Customs brokerage and other services

 

 

440,946

 

 

 

336,532

 

 

 

877,342

 

 

 

662,034

 

Net revenues

 

$

661,695

 

 

$

642,546

 

 

$

1,315,809

 

 

$

1,278,384