XML 19 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax [1] $ 16,523,517 $ 9,584,393 $ 7,942,417
Operating Expenses:      
Directly related cost of transportation and other expenses [1],[2] 12,058,155 6,656,702 5,305,949
Salaries and related costs 2,062,351 1,538,104 1,422,315
Rent and occupancy costs 186,287 169,863 166,182
Depreciation and amortization 51,312 56,959 50,950
Selling and promotion 16,026 18,436 44,002
Other 240,060 203,892 186,327
Total operating expenses 14,614,191 8,643,956 7,175,725
Operating income 1,909,326 940,437 766,692
Other Income (Expense):      
Interest income 8,807 10,415 22,803
Other, net 6,483 5,712 6,299
Other income, net 15,290 16,127 29,102
Earnings before income taxes 1,924,616 956,564 795,794
Income tax expense 505,771 258,350 203,778
Net earnings 1,418,845 698,214 592,016
Less net earnings attributable to the noncontrolling interest 3,353 2,074 1,621
Net earnings attributable to shareholders $ 1,415,492 $ 696,140 $ 590,395
Diluted earnings attributable to shareholders per share $ 8.27 $ 4.07 $ 3.39
Basic earnings attributable to shareholders per share $ 8.37 $ 4.14 $ 3.45
Weighted average diluted shares outstanding 171,250 170,896 174,209
Weighted average basic shares outstanding 169,145 168,333 170,899
Airfreight services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax $ 6,771,402 $ 4,274,026 $ 2,740,938
Operating Expenses:      
Directly related cost of transportation and other expenses 5,067,380 3,168,808 1,955,054
Ocean freight and ocean services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax 5,545,818 2,342,344 2,188,149
Operating Expenses:      
Directly related cost of transportation and other expenses 4,364,160 1,751,850 1,584,240
Customs brokerage and other services      
Revenues:      
Revenue from Contract with Customer, Excluding Assessed Tax 4,206,297 2,968,023 3,013,330
Operating Expenses:      
Directly related cost of transportation and other expenses $ 2,626,615 $ 1,736,044 $ 1,766,655
[1] See Note 11 – 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 consolidated statements of earnings.