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Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 4,319,261 $ 2,348,713 [1] $ 11,127,174 [1] $ 6,603,558 [1]
Operating Expenses:        
Direct Operating Costs [2] 3,185,490 1,614,334 [1] 8,031,407 [1] 4,504,452 [1]
Salaries and related 519,611 373,613 1,452,902 1,110,760
Rent and occupancy 46,730 42,484 137,376 126,383
Depreciation and amortization 12,753 15,851 38,415 42,620
Selling and promotion 4,237 2,945 10,479 14,301
Other 60,803 47,541 170,798 146,416
Total operating expenses 3,829,624 2,096,768 9,841,377 5,944,932
Operating income 489,637 251,945 1,285,797 658,626
Other Income (Expense):        
Interest income 2,462 1,504 6,596 8,870
Other, net 733 980 6,382 5,161
Other income, net 3,195 2,484 12,978 14,031
Earnings before income taxes 492,832 254,429 1,298,775 672,657
Income tax expense 132,922 62,710 333,941 173,968
Net earnings 359,910 191,719 964,834 498,689
Less net earnings attributable to the noncontrolling interest 842 412 2,174 1,169
Net earnings attributable to shareholders $ 359,068 $ 191,307 $ 962,660 $ 497,520
Diluted earnings attributable to shareholders per share $ 2.09 $ 1.12 $ 5.61 $ 2.92
Basic earnings attributable to shareholders per share $ 2.12 $ 1.14 $ 5.68 $ 2.96
Weighted average diluted shares outstanding 171,565 170,735 171,549 170,539
Weighted average basic shares outstanding 169,633 168,310 169,398 167,942
Airfreight services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,628,115 $ 983,199 $ 4,477,599 $ 2,908,451
Operating Expenses:        
Direct Operating Costs 1,244,381 723,340 3,335,253 2,122,205
Ocean freight and ocean services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 1,598,597 609,816 3,651,059 1,590,541
Operating Expenses:        
Direct Operating Costs 1,254,334 452,028 2,859,020 1,177,696
Customs brokerage and other services        
Revenues:        
Revenue from Contract with Customer, Excluding Assessed Tax 1,092,549 755,698 2,998,516 2,104,566
Operating Expenses:        
Direct Operating Costs $ 686,775 $ 438,966 $ 1,837,134 $ 1,204,551
[1] See Note 9 - Correction of Immaterial Errors.
[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.