Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense (benefit) includes the following components:

	Federal			State			Foreign		Total
2021
Current	$	126,840		$	54,484		$	328,137	$	509,461
Deferred		(3,981	)		291			—		(3,690	)
	$	122,859		$	54,775		$	328,137	$	505,771
2020
Current	$	37,551		$	18,432		$	193,996	$	249,979
Deferred		8,440			(69	)		—		8,371
	$	45,991		$	18,363		$	193,996	$	258,350
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

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

The components of earnings before income taxes are as follows:

	2021		2020		2019
United States	$	823,009	$	325,009	$	327,878
Foreign		1,101,607		631,555		467,916
	$	1,924,616	$	956,564	$	795,794

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% when compared to earnings before income taxes as a result of the following:

	2021			2020			2019
Computed “expected” tax expense	$	404,169		$	200,879		$	167,117
Increase (decrease) in income taxes resulting from:
Effect of foreign taxes		46,644			48,584			26,599
State income taxes, net of Federal income tax benefit		43,272			14,507			11,885
Nondeductible executive compensation		8,981			4,324			2,838
Stock compensation expense, net		(6,238	)		(8,461	)		(2,689	)
Other, net		8,943			(1,483	)		(1,972	)
	$	505,771		$	258,350		$	203,778

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,	2021		2020
Deferred Tax Assets:
Deductible stock compensation expense, net	$	11,291	$	14,265
Operating lease liabilities		67,065		52,223
Accrued third party obligations, deductible for taxes upon economic performance		6,504		6,242
Excess of financial statement over tax depreciation		9,182		8,123
Foreign currency translation adjustments		8,729		4,604
Retained liability for cargo claims		1,430		1,128
Provision for credit losses on accounts receivable		2,168		954
Total gross deferred tax assets		106,369		87,539
Deferred Tax Liabilities:
Unremitted foreign earnings, net of related foreign tax credits		41,560		43,805
Operating lease assets		64,080		49,865
Deferred contract costs		—		917
Total gross deferred tax liabilities		105,640		94,587
Net deferred tax (liabilities) assets	$	729	$	(7,048	)