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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,609,093 $ 2,411,078 $ 6,807,913 $ 4,254,845
Operating Expenses:        
Direct Operating Costs [1] 2,598,633 1,661,487 4,845,917 2,890,118
Salaries and related 481,186 395,107 933,291 737,147
Rent and occupancy 45,366 41,375 90,646 83,899
Depreciation and amortization 12,675 14,109 25,662 26,769
Selling and promotion 3,172 3,113 6,242 11,356
Other 57,416 48,261 109,995 98,875
Total operating expenses 3,198,448 2,163,452 6,011,753 3,848,164
Operating income 410,645 247,626 796,160 406,681
Other Income (Expense):        
Interest income 2,188 2,559 4,134 7,366
Other, net 2,649 797 5,649 4,181
Other income, net 4,837 3,356 9,783 11,547
Earnings before income taxes 415,482 250,982 805,943 418,228
Income tax expense 98,508 66,794 201,019 111,258
Net earnings 316,974 184,188 604,924 306,970
Less net earnings attributable to the noncontrolling interest 602 319 1,332 757
Net earnings attributable to shareholders $ 316,372 $ 183,869 $ 603,592 $ 306,213
Diluted earnings attributable to shareholders per share $ 1.84 $ 1.09 $ 3.52 $ 1.80
Basic earnings attributable to shareholders per share $ 1.87 $ 1.10 $ 3.57 $ 1.83
Weighted average diluted shares outstanding 171,677 169,290 171,660 170,382
Weighted average basic shares outstanding 169,210 166,767 169,140 167,751
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,523,569 $ 1,269,654 $ 2,849,484 $ 1,925,252
Operating Expenses:        
Direct Operating Costs 1,136,328 932,137 2,090,872 1,398,865
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 1,098,550 489,385 2,052,462 980,725
Operating Expenses:        
Direct Operating Costs 862,251 361,272 1,604,686 725,668
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 986,974 652,039 1,905,967 1,348,868
Operating Expenses:        
Direct Operating Costs $ 600,054 $ 368,078 $ 1,150,359 $ 765,585
[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 condensed consolidated statements of earnings.