Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense (benefit) includes the following components:

	Federal			State			Foreign		Total
2019
Current	$	35,324		$	13,711		$	150,261	$	199,296
Deferred		3,149			1,333			—		4,482
	$	38,473		$	15,044		$	150,261	$	203,778
2018
Current	$	45,996		$	13,262		$	151,312	$	210,570
Deferred		(9,759	)		(2,272	)		—		(12,031	)
	$	36,237		$	10,990		$	151,312	$	198,539
2017
Current	$	101,821		$	20,490		$	149,596	$	271,907
Deferred		(42,474	)		(1,221	)		—		(43,695	)
	$	59,347		$	19,269		$	149,596	$	228,212

Schedule of U.S. and Foreign Components of Income Before Income Tax Expense/(Benefit)

The components of earnings before income taxes are as follows:

	2019		2018		2017
United States	$	327,878	$	313,178	$	276,714
Foreign		467,916		505,151		441,881
	$	795,794	$	818,329	$	718,595

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from amounts computed by applying the United States Federal income tax rate of 21% in both 2019 and 2018 and 35% in 2017 when compared to earnings before income taxes as a result of the following:

	2019			2018			2017
Computed “expected” tax expense	$	167,117		$	171,849		$	251,508
Increase (decrease) in income taxes resulting from:
Effect of foreign taxes		26,599			16,445			(25,374	)
State income taxes, net of Federal income tax benefit		11,885			8,682			12,525
Nondeductible executive compensation		2,838			3,126			—
Stock compensation expense, net		(2,689	)		(3,860	)		63
Enactment of 2017 Tax Act		—			—			(13,894	)
Other, net		(1,972	)		2,297			3,384
	$	203,778		$	198,539		$	228,212

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and tax credits that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows:

Years ended December 31,	2019		2018
Deferred Tax Assets:
Deductible stock compensation expense, net	$	18,569	$	19,011
Operating lease liabilities		52,966		—
Accrued third party obligations, deductible for taxes upon economic performance		5,333		7,726
Excess of financial statement over tax depreciation		5,802		5,134
Foreign currency translation adjustments		9,248		37,299
Retained liability for cargo claims		1,006		1,025
Provision for doubtful accounts receivable		916		1,443
Total gross deferred tax assets		93,840		71,638
Deferred Tax Liabilities:
Unremitted foreign earnings, net of related foreign tax credits		31,615		31,173
Operating lease assets		52,351		—
Deferred contract costs		1,840		—
Total gross deferred tax liabilities		85,806		31,173
Net deferred tax assets	$	8,034	$	40,465