Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020:
Revenues¹	$	650,407		81,831		37,890		537,955		169,042		320,640		105,039		(940	)		1,901,864
Directly related cost of transportation and other expenses²	$	373,961		45,890		23,765		425,301		121,282		221,998		74,976		(445	)		1,286,728
Salaries and other operating expenses³	$	225,944		23,712		11,749		57,433		29,908		81,854		25,950		(469	)		456,081
Operating income	$	50,502		12,229		2,376		55,221		17,852		16,788		4,113		(26	)		159,055
Identifiable assets at period end	$	1,858,250		135,810		68,402		512,808		179,508		554,831		200,382		(24	)		3,509,967
Capital expenditures	$	4,497		61		102		325		188		645		309		—			6,127
Equity	$	1,369,580		63,378		28,020		237,255		102,001		159,222		113,349		(35,660	)		2,037,145
For the three months ended March 31, 2019:
Revenues¹	$	659,784		91,410		34,179		632,853		177,179		312,690		112,675		(719	)		2,020,051
Directly related cost of transportation and other expenses²	$	367,355		56,241		19,116		498,646		129,810		215,895		79,503		(629	)		1,365,937
Salaries and other operating expenses³	$	218,416		24,209		12,427		68,427		31,462		82,843		28,811		(82	)		466,513
Operating income	$	74,013		10,960		2,636		65,780		15,907		13,952		4,361		(8	)		187,601
Identifiable assets at period end	$	1,906,278		175,034		71,168		511,589		174,512		579,924		234,195		(9,788	)		3,642,912
Capital expenditures	$	6,915		228		93		344		176		982		697		—			9,435
Equity	$	1,401,450		82,170		28,581		238,518		114,290		165,718		126,953		(32,246	)		2,125,434

Beginning in the second quarter of 2019, the Company revised its process to record the transfer, between its geographic operating segments, of revenues and the directly related cost of transportation and other expenses for freight service transactions between Company origin and destination locations. This change better aligns revenue reporting with the location where the services are performed, as well as the transactional reporting being developed as part of the Company’s new accounting systems and processes. The change in presentation had no impact on consolidated or segment operating income. The impact of these changes on reported segment revenues was immaterial and first quarter 2019 segment revenues have not been revised.

²	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.

³	Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.