C.H. Robinson Worldwide (CHRW) 10-Q 29 Oct 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	000-23189
Entity Registrant Name	C.H. ROBINSON WORLDWIDE, INC.
Entity Central Index Key	0001043277
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-1883630
Entity Address, Address Line One	14701 Charlson Road
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55347
City Area Code	952
Local Phone Number	937-8500
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	CHRW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		129,987,462

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 202,649	$ 243,796
Receivables, net of allowance for credit loss of $37,114 and $38,113	3,721,571	2,449,577
Contract assets, net of allowance for credit loss	416,971	197,176
Prepaid expenses and other	89,472	51,152
Total current assets	4,430,663	2,941,701
Property and equipment, net of accumulated depreciation and amortization	177,418	178,949
Goodwill	1,486,199	1,487,187
Other intangible assets, net of accumulated amortization	96,025	113,910
Right-of-use lease assets	297,249	319,785
Deferred tax assets	26,244	18,640
Other assets	88,808	84,086
Total assets	6,602,606	5,144,258
Current liabilities:
Accounts payable	1,797,441	1,195,099
Outstanding checks	66,748	88,265
Accrued expenses:
Compensation	173,353	138,460
Transportation expense	319,154	153,574
Income taxes	39,276	43,700
Other accrued liabilities	157,251	154,460
Current lease liabilities	66,470	66,174
Current portion of debt	632,000	0
Total current liabilities	3,251,693	1,839,732
Long-term debt	1,093,950	1,093,301
Noncurrent lease liabilities	245,902	268,572
Noncurrent income taxes payable	25,449	26,015
Deferred tax liabilities	20,259	22,182
Other long-term liabilities	14,553	14,523
Total liabilities	4,651,806	3,264,325
Stockholders’ investment:
Preferred stock, $0.10 par value, 20,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.10 par value, 480,000 shares authorized; 179,206 and 179,232 shares issued, 130,376 and 134,298 outstanding	13,038	13,430
Additional paid-in capital	637,182	566,022
Retained earnings	4,779,964	4,372,833
Accumulated other comprehensive loss	(65,480)	(45,998)
Treasury stock at cost (48,830 and 44,934 shares)	(3,413,904)	(3,026,354)
Total stockholders’ investment	1,950,800	1,879,933
Total liabilities and stockholders’ investment	$ 6,602,606	$ 5,144,258

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Receivable, allowance for credit loss	$ 37,114	$ 38,113
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, authorized (shares)	20,000,000	20,000,000
Preferred stock, issued (shares)	0	0
Preferred stock, outstanding (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (shares)	480,000,000	480,000,000
Common stock, issued (shares)	179,206,000	179,232,000
Common stock, outstanding (shares)	130,376,000	134,298,000
Treasury stock (shares)	48,830,000	44,934,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - 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:
Total revenues	$ 6,263,695	$ 4,224,800	$ 16,600,290	$ 11,657,654
Costs and expenses:
Personnel expenses	399,880	302,904	1,123,616	933,607
Other selling, general, and administrative expenses	133,543	118,130	377,430	371,606
Total costs and expenses	5,952,926	4,056,561	15,805,588	11,191,188
Income from operations	310,769	168,239	794,702	466,466
Interest and other expense	(16,662)	(7,465)	(41,419)	(32,904)
Income before provision for income taxes	294,107	160,774	753,283	433,562
Provision for income taxes	47,054	24,245	139,136	74,948
Net income	247,053	136,529	614,147	358,614
Other comprehensive (loss) income, net of tax	(12,034)	13,236	(19,482)	5,294
Comprehensive income	$ 235,019	$ 149,765	$ 594,665	$ 363,908
Basic net income per share (in dollars per share)	$ 1.87	$ 1.01	$ 4.61	$ 2.65
Diluted net income per share (in dollars per share)	$ 1.85	$ 1	$ 4.56	$ 2.63
Basic weighted average shares outstanding (shares)	131,845	135,671	133,201	135,385
Dilutive effect of outstanding stock awards (shares)	1,591	1,457	1,460	752
Diluted weighted average shares outstanding (shares)	133,436	137,128	134,661	136,137
Transportation
Revenues:
Total revenues	$ 5,999,901	$ 3,944,981	$ 15,800,576	$ 10,835,710
Costs and expenses:
Purchased products and services	5,180,390	3,378,651	13,580,980	9,141,354
Sourcing
Revenues:
Total revenues	263,794	279,819	799,714	821,944
Costs and expenses:
Purchased products and services	$ 239,113	$ 256,876	$ 723,562	$ 744,621

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Investment - USD ($) shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,906,170	$ 1,868,187	$ 1,879,933	$ 1,704,328	$ 1,587,118	$ 1,670,730	$ 1,879,933	$ 1,670,730
Net income	247,053	193,789	173,305	136,529	143,939	78,146	614,147	358,614
Foreign currency adjustments	(12,034)	(162)	(7,286)	13,236	24,253	(32,195)
Dividends declared	(68,316)	(69,094)	(69,606)	(70,188)	(69,791)	(69,871)
Stock issued for employee benefit plans	4,346	16,594	(3,003)	78,678	7,855	(2,526)
Issuance of restricted stock, net of forfeitures			0
Issuance of restricted stock, net of forfeitures						0
Stock-based compensation expense	40,812	29,161	23,989	10,776	10,954	11,397
Repurchase of common stock	(167,231)	(132,305)	(129,145)			(68,563)
Ending balance	$ 1,950,800	$ 1,906,170	$ 1,868,187	$ 1,873,359	$ 1,704,328	$ 1,587,118	$ 1,950,800	$ 1,873,359
Dividends declared, per share (in dollars per share)	$ 0.51	$ 0.51	$ 0.51	$ 0.51	$ 0.51	$ 0.51
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	132,135	133,243	134,298	134,724	134,586	134,895	134,298	134,895
Beginning balance	$ 13,213	$ 13,324	$ 13,430	$ 13,472	$ 13,459	$ 13,490	$ 13,430	$ 13,490
Stock issued for employee benefit plans (in shares)	91	250	357	1,176	138	343
Stock issued for employee benefit plans	$ 9	$ 25	$ 36	$ 118	$ 13	$ 34
Issuance of restricted stock, net of forfeitures (in shares)			(26)
Issuance of restricted stock, net of forfeitures			$ (3)
Issuance of restricted stock, net of forfeitures (in shares)						321
Issuance of restricted stock, net of forfeitures						$ 32
Stock-based compensation expense (in shares)	0	0	0	0	0	0
Stock-based compensation expense	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Repurchase of common stock (in shares)	(1,850)	(1,358)	(1,386)			(973)
Repurchase of common stock	$ (184)	$ (136)	$ (139)			$ (97)
Ending balance (in shares)	130,376	132,135	133,243	135,900	134,724	134,586	130,376	135,900
Ending balance	$ 13,038	$ 13,213	$ 13,324	$ 13,590	$ 13,472	$ 13,459	$ 13,038	$ 13,590
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	597,788	568,209	566,022	543,608	533,819	546,646	566,022	546,646
Stock issued for employee benefit plans	(1,418)	418	(21,805)	1,032	(1,165)	(24,192)
Issuance of restricted stock, net of forfeitures			3
Issuance of restricted stock, net of forfeitures						(32)
Stock-based compensation expense	40,812	29,161	23,989	10,776	10,954	11,397
Ending balance	637,182	597,788	568,209	555,416	543,608	533,819	637,182	555,416
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	4,601,227	4,476,532	4,372,833	4,227,257	4,153,109	4,144,834	4,372,833	4,144,834
Net income	247,053	193,789	173,305	136,529	143,939	78,146
Dividends declared	(68,316)	(69,094)	(69,606)	(70,188)	(69,791)	(69,871)
Ending balance	4,779,964	4,601,227	4,476,532	4,293,598	4,227,257	4,153,109	4,779,964	4,293,598
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(53,446)	(53,284)	(45,998)	(84,091)	(108,344)	(76,149)	(45,998)	(76,149)
Foreign currency adjustments	(12,034)	(162)	(7,286)	13,236	24,253	(32,195)
Ending balance	(65,480)	(53,446)	(53,284)	(70,855)	(84,091)	(108,344)	(65,480)	(70,855)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(3,252,612)	(3,136,594)	(3,026,354)	(2,995,918)	(3,004,925)	(2,958,091)	(3,026,354)	(2,958,091)
Stock issued for employee benefit plans	5,755	16,151	18,766	77,528	9,007	21,632
Stock-based compensation expense	0	0	0	0	0	0
Repurchase of common stock	(167,047)	(132,169)	(129,006)			(68,466)
Ending balance	$ (3,413,904)	$ (3,252,612)	$ (3,136,594)	$ (2,918,390)	$ (2,995,918)	$ (3,004,925)	$ (3,413,904)	$ (2,918,390)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Investment (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share (in dollars per share)	$ 0.51	$ 0.51	$ 0.51	$ 0.51	$ 0.51	$ 0.51

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
OPERATING ACTIVITIES
Net income	$ 614,147	$ 358,614
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation and amortization	68,621	77,067
Provision for credit losses	3,979	12,701
Stock-based compensation	93,962	33,127
Deferred income taxes	(11,683)	(9,468)
Excess tax benefit on stock-based compensation	(10,830)	(17,127)
Other operating activities	1,384	13,104
Changes in operating elements, net of acquisitions:
Receivables	(1,290,485)	(367,538)
Contract assets	(220,889)	(56,131)
Prepaid expenses and other	(38,525)	12,331
Accounts payable and outstanding checks	595,036	186,755
Accrued compensation	35,413	16,458
Accrued transportation expense	165,580	46,396
Accrued income taxes	6,400	17,125
Other accrued liabilities	4,947	8,907
Other assets and liabilities	2,043	4,728
Net cash provided by operating activities	19,100	337,049
INVESTING ACTIVITIES
Purchases of property and equipment	(26,503)	(17,446)
Purchases and development of software	(26,062)	(22,815)
Acquisitions, net of cash acquired	(14,749)	(223,230)
Other investing activities	0	5,525
Net cash used for investing activities	(67,314)	(257,966)
FINANCING ACTIVITIES
Proceeds from stock issued for employee benefit plans	43,183	100,542
Stock tendered for payment of withholding taxes	(25,246)	(16,535)
Repurchase of common stock	(428,801)	(68,563)
Cash dividends	(208,926)	(207,428)
Payments on long-term borrowings	(2,048)	0
Proceeds from short-term borrowings	2,768,000	1,043,600
Payments on short-term borrowings	(2,136,251)	(1,126,600)
Net cash provided by (used for) financing activities	9,911	(274,984)
Effect of exchange rates on cash and cash equivalents	(2,844)	612
Net change in cash and cash equivalents	(41,147)	(195,289)
Cash and cash equivalents, beginning of period	243,796	447,858
Cash and cash equivalents, end of period	$ 202,649	$ 252,569

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION C.H. Robinson Worldwide, Inc., and our subsidiaries (“the company,” “we,” “us,” or “our”) are a global provider of transportation services and logistics solutions operating through a network of offices located in North America, Europe, Asia, Oceania, and South America. The consolidated financial statements include the accounts of C.H. Robinson Worldwide, Inc., and our majority owned and controlled subsidiaries. Our minority interests in subsidiaries are not significant. All intercompany transactions and balances have been eliminated in the consolidated financial statements. Our reportable segments are NAST and Global Forwarding with all other segments included in All Other and Corporate. The All Other and Corporate reportable segment includes Robinson Fresh, Managed Services, Other Surface Transportation outside of North America, and other miscellaneous revenues and unallocated corporate expenses. For financial information concerning our reportable segments, refer to Note 9, Segment Reporting . The condensed consolidated financial statements, which are unaudited, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the financial statements for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Consistent with SEC rules and regulations, we have condensed or omitted certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States. You should read the condensed consolidated financial statements and related notes in conjunction with the consolidated financial statements and notes in our Annual Report on Form 10-K for the year ended December 31, 2020. RECENTLY ISSUED ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional practical expedients to simplify accounting for reference rate reform. Amongst other practical expedients, the update allows for contract modifications due to reference rate reform for certain receivables and debt contracts to be accounted for by prospectively adjusting the effective interest rate. The amendments in this ASU are effective for all entities beginning on March 12, 2020, and companies may elect to apply the amendments prospectively through December 31, 2022. As of September 30, 2021, we have not utilized any of the expedients discussed within this ASU. We will continue to assess our agreements to determine if LIBOR is included and if the expedients will be utilized during the allowed period through December 31, 2022. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The change in carrying amount of goodwill is as follows (in thousands): NAST Global Forwarding All Other and Corporate Total Balance, December 31, 2020 $ 1,203,972 $ 213,982 $ 69,233 $ 1,487,187 Acquisitions 243 — 10,754 10,997 Foreign currency translation (7,894) (2,668) (1,423) (11,985) Balance September 30, 2021 $ 1,196,321 $ 211,314 $ 78,564 $ 1,486,199 Goodwill is tested at least annually for impairment on November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. We first perform a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting units is less than their respective carrying value (“Step Zero Analysis”). If the Step Zero Analysis indicates it is more likely than not that the fair value of our reporting units is less than their respective carrying value, an additional impairment assessment is performed (“Step One Analysis”). We considered whether there were any changes in circumstances indicating that our goodwill might be impaired, including consideration of the ongoing impacts of the COVID-19 pandemic on financial markets and our business operations, and determined the more likely than not criteria had not been met, and therefore a Step One Analysis was not required as of September 30, 2021. Identifiable intangible assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Finite-lived intangibles Customer relationships $ 169,540 $ (82,115) $ 87,425 $ 171,684 $ (67,312) $ 104,372 Trademarks — — — 1,875 (937) 938 Total finite-lived intangibles 169,540 (82,115) 87,425 173,559 (68,249) 105,310 Indefinite-lived intangibles Trademarks 8,600 — 8,600 8,600 — 8,600 Total intangibles $ 178,140 $ (82,115) $ 96,025 $ 182,159 $ (68,249) $ 113,910 Amortization expense for other intangible assets is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization expense $ 6,130 $ 9,937 $ 19,416 $ 27,968 Finite-lived intangible assets, by reportable segment, as of September 30, 2021, will be amortized over their remaining lives as follows (in thousands): NAST Global Forwarding All Other and Corporate Total Remaining 2021 $ 2,024 $ 3,738 $ 293 $ 6,055 2022 8,096 14,953 1,171 24,220 2023 8,096 12,304 1,171 21,571 2024 7,991 3,778 1,171 12,940 2025 7,857 2,479 1,171 11,507 Thereafter 9,168 403 1,561 11,132 Total $ 87,425

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: • Level 1 — Quoted market prices in active markets for identical assets or liabilities. • Level 2 — Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3 — Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS The components of our short-term and long-term debt and the associated interest rates were as follows (dollars in thousands): Average interest rate as of Carrying value as of September 30, 2021 December 31, 2020 Maturity September 30, 2021 December 31, 2020 Revolving credit facility 1.20 % — % October 2023 $ 632,000 $ — Senior Notes, Series A 3.97 % 3.97 % August 2023 175,000 175,000 Senior Notes, Series B 4.26 % 4.26 % August 2028 150,000 150,000 Senior Notes, Series C 4.60 % 4.60 % August 2033 175,000 175,000 Senior Notes (1) 4.20 % 4.20 % April 2028 593,950 593,301 Total debt 1,725,950 1,093,301 Less: Current maturities and short-term borrowing (632,000) — Long-term debt $ 1,093,950 $ 1,093,301 ____________________________________________ (1) Net of unamortized discounts and issuance costs. SENIOR UNSECURED REVOLVING CREDIT FACILITY We have a senior unsecured revolving credit facility (the "Credit Agreement") with a total availability of $1 billion and a maturity date of October 24, 2023. Borrowings under the Credit Agreement generally bear interest at a variable rate determined by a pricing schedule or the base rate (which is the highest of (a) the administrative agent's prime rate, (b) the federal funds rate plus 0.50 percent, or (c) the sum of applicable LIBOR plus 1.13 percent). In addition, there is a commitment fee on the average daily undrawn stated amount under each letter of credit issued under the facility ranging from 0.075 percent to 0.200 percent. The recorded amount of borrowings outstanding, if any, approximates fair value because of the short maturity period of the debt. The Credit Agreement contains various restrictions and covenants that require us to maintain certain financial ratios, including a maximum leverage ratio of 3.50 to 1.00. The Credit Agreement also contains customary events of default. If an event of default under the Credit Agreement occurs and is continuing, then the administrative agent may declare any outstanding obligations under the Credit Agreement to be immediately due and payable. In addition, if we become the subject of voluntary or involuntary proceedings under any bankruptcy, insolvency, or similar law, then any outstanding obligations under the Credit Agreement will automatically become immediately due and payable. NOTE PURCHASE AGREEMENT On August 23, 2013, we entered into a Note Purchase Agreement with certain institutional investors (the “Purchasers”). On August 27, 2013, the Purchasers purchased an aggregate principal amount of $500 million of our Senior Notes, Series A, Senior Notes Series B, and Senior Notes Series C (collectively the “Notes”). Interest on the Notes is payable semi-annually in arrears. The fair value of the Notes approximated $546.0 million at September 30, 2021. The Note Purchase Agreement contains various restrictions and covenants that require us to maintain certain financial ratios, including a maximum leverage ratio of 3.00 to 1.00, a minimum interest coverage ratio of 2.00 to 1.00, and a maximum consolidated priority debt to consolidated total asset ratio of 15 percent. The Note Purchase Agreement provides for customary events of default. The occurrence of an event of default would permit certain Purchasers to declare certain Notes then outstanding to be immediately due and payable. Under the terms of the Note Purchase Agreement, the Notes are redeemable, in whole or in part, at 100 percent of the principal amount being redeemed together with a “make-whole amount” (as defined in the Note Purchase Agreement), and accrued and unpaid interest with respect to each Note. The obligations of the company under the Note Purchase Agreement and the Notes are guaranteed by C.H. Robinson Company, a Delaware corporation and a wholly-owned subsidiary of the company, and by C.H. Robinson Company, Inc., a Minnesota corporation and an indirect wholly-owned subsidiary of the company. COMBINEX CREDIT FACILITY On June 3, 2021, we assumed a credit facility as part of our acquisition of Combinex Holding B.V. (“Combinex”) with total availability of approximately $3.6 million and a maturity date of January 18, 2027. We paid off the $2.2 million balance of this facility in September 2021. For more information regarding the Combinex acquisition, refer to Note 8, Acquisitions . SENIOR NOTES On April 9, 2018, we issued senior unsecured notes ("Senior Notes") through a public offering. The Senior Notes bear an annual interest rate of 4.20 percent payable semi-annually on April 15 and October 15, until maturity on April 15, 2028. Taking into effect the amortization of the original issue discount and all underwriting and issuance expenses, the Senior Notes have an effective yield to maturity of approximately 4.39 percent per annum. The fair value of the Senior Notes, excluding debt discounts and issuance costs, approximated $680.2 million as of September 30, 2021, based primarily on the market prices quoted from external sources. The carrying value of the Senior Notes was $594.0 million as of September 30, 2021. We may redeem the Senior Notes, in whole or in part, at any time and from time to time prior to their maturity at the applicable redemption prices described in the Senior Notes. Upon the occurrence of a “change of control triggering event” as defined in the Senior Notes (generally, a change of control of us accompanied by a reduction in the credit rating for the Senior Notes), we will generally be required to make an offer to repurchase the Senior Notes from holders at 101 percent of their principal amount plus accrued and unpaid interest to the date of repurchase. The Senior Notes were issued under an indenture that contains covenants imposing certain limitations on our ability to incur liens or enter into sale and leaseback transactions above certain limits; and consolidate, or merge or transfer substantially all of our assets and those of our subsidiaries on a consolidated basis. It also provides for customary events of default (subject in certain cases to customary grace and cure periods), which include among other things nonpayment, breach of covenants in the indenture, and certain events of bankruptcy and insolvency. If an event of default occurs and is continuing with respect to the Senior Notes, the trustee or holders of at least 25 percent in principal amount outstanding of the Senior Notes may declare the principal and the accrued and unpaid interest, if any, on all of the outstanding Senior Notes to be due and payable. These covenants and events of default are subject to a number of important qualifications, limitations, and exceptions that are described in the indenture. The indenture does not contain any financial ratios or specified levels of net worth or liquidity to which we must adhere. In addition to the above financing agreements, we have a $15 million discretionary line of credit with US Bank of which $8 million is currently utilized for standby letters of credit related to insurance collateral as of September 30, 2021. These standby letters of credit are renewed annually and were undrawn as of September 30, 2021. We estimate the fair value of our financing arrangements primarily using an expected present value technique, which is based on observable market inputs using interest rates currently available to companies of similar credit standing for similar terms and remaining maturities, and considering our risk. These are considered Level 2 financial liabilities. U.S. TRADE ACCOUNTS RECEIVABLE SECURITIZATION

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES A reconciliation of the provision for income taxes using the statutory federal income tax rate to our effective income tax rate for the three and nine months ended September 30, 2021and 2020, is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 0.6 2.0 1.5 2.4 Share based payment awards 0.4 (3.8) (0.8) (4.1) Foreign tax credits (0.1) (5.2) (0.3) (3.1) Foreign (4.2) 0.3 (1.5) 1.2 Other (1.7) 0.8 (1.4) (0.1) Effective income tax rate 16.0 % 15.1 % 18.5 % 17.3 % We have asserted that the unremitted earnings of a limited number of our foreign subsidiaries are permanently reinvested to support expansion of our international business. If we repatriated all foreign earnings that are considered to be permanently reinvested, the estimated effect on income taxes payable would be an increase of approximately $2.0 million as of September 30, 2021. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) in response to the COVID-19 pandemic. The CARES Act allowed for a deferral of the employer share of federal payroll taxes otherwise due through December 31, 2020. 50 percent of the deferred amount is due December 31, 2021 and the remaining 50 percent is due December 31, 2022. This provision allowed us to defer certain federal payroll deposits and invest this cash back into the business without any interest cost. The CARES Act also provided for a tax credit related to wages and health benefits provided to an employee whose work from March 17, 2020 through June 30, 2021 was impacted by COVID-19. The Consolidated Appropriations Act signed into law on December 27, 2020, extended the tax credit through June 30, 2021, and increased the maximum credit per employee from $5,000 per year in 2020 to $7,000 per quarter in 2021. Through September 30, 2021, we have recognized a payroll deferral and tax credit of $28.5 million and $0.7 million, respectively, under the CARES Act and The Consolidated Appropriations Act. We will continue evaluating the impact of both acts over the remainder of 2021.

STOCK AWARD PLANS

STOCK AWARD PLANS	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK AWARD PLANS	STOCK AWARD PLANS Stock-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense as it vests. A summary of our total compensation expense recognized in our condensed consolidated statements of operations and comprehensive income for stock-based compensation is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options $ 4,070 $ 5,081 $ 12,064 $ 15,119 Stock awards 36,012 5,042 79,361 15,736 Company expense on ESPP discount 730 653 2,537 2,272 Total stock-based compensation expense $ 40,812 $ 10,776 $ 93,962 $ 33,127 On May 9, 2019, our shareholders approved an amendment and restatement of our 2013 Equity Incentive Plan (the “Plan”) to increase the number of shares authorized for award by 4,000,000 shares. The Plan allows us to grant certain stock awards, including stock options at fair market value and performance shares and restricted stock units, to our key employees and outside directors. A maximum of 17,041,803 shares can be granted under this plan following the amendment and restatement. Approximately 1,765,322 shares were available for stock awards under the plan as of September 30, 2021. Shares subject to awards that expire or are canceled without delivery of shares or that are settled in cash generally become available again for issuance under the plan. Stock Options - We have awarded stock options to certain key employees through 2020. The fair value of these options was established based on the market price on the date of grant calculated using the Black-Scholes option pricing model. Changes in measured stock price volatility and interest rates were the primary reasons for changes in the fair value. These grants are being expensed based on the terms of the awards. As of September 30, 2021, unrecognized compensation expense related to stock options was $30.6 million. The amount of future expense to be recognized will be based on the passage of time and the employees' continued employment. Stock Awards - We have awarded performance-based restricted shares through 2020. We have also awarded performance-based restricted stock units and time-based restricted stock units to certain key employees and non-employee directors. Performance-based awards are subject to certain vesting requirements based on our earnings and adjusted gross profit growth. Time-based awards vest primarily based on the employee's continued employment. The awards also contain restrictions on the awardees’ ability to sell or transfer vested awards for a specified period of time. The fair value of these awards is established based on the market price on the date of grant, discounted for post-vesting holding restrictions. The discounts on outstanding grants vary from 12 percent to 24 percent and are calculated using the Black-Scholes option pricing model-protective put method. Differences in post-holding restrictions, measured stock price volatility and interest rates are the primary reasons for changes in the discount. These grants are being expensed based on the terms of the awards. We granted 280,255 performance-based restricted stock units and 619,689 time-based restricted stock units on February 3, 2021. The performance-based and time-based awards had a weighted average grant date fair value of $74.76 and $71.28, respectively, and are eligible to vest over a three-year period with a first vesting date of December 31, 2021. The performance-based awards vest based on our earnings and adjusted gross profit growth and include an upside opportunity of 200 percent upon attaining established earnings and adjusted gross profit growth targets. We have also issued restricted stock units to certain key employees and non-employee directors, which are fully vested upon issuance. These units contain restrictions on the awardees’ ability to sell or transfer vested units for a specified period of time. The fair value of these units is established using the same method discussed above. These grants have been expensed during the year they were earned. As of September 30, 2021, there was unrecognized compensation expense of $99.9 million related to previously granted full value awards. The amount of future expense to be recognized will be based on the passage of time, the company’s earnings and adjusted gross profit growth, and certain other conditions. Employee Stock Purchase Plan - Our 1997 Employee Stock Purchase Plan ("ESPP") allows our employees to contribute up to $10,000 of their annual cash compensation to purchase company stock. Purchase price is determined using the closing price on the last day of each quarter discounted by 15 percent. Shares vest immediately. The following is a summary of the employee stock purchase plan activity (dollars in thousands): Three Months Ended September 30, 2021 Shares purchased by employees Aggregate cost to employees Expense recognized by the company 55,904 $ 4,134 $ 730

LITIGATION

LITIGATION	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	LITIGATIONWe are not subject to any pending or threatened litigation other than routine litigation arising in the ordinary course of our business operations, including certain contingent auto liability cases. For some legal proceedings, we have accrued an amount that reflects the aggregate liability deemed probable and estimable, but this amount is not material to our condensed consolidated financial position, results of operations, or cash flows. Because of the preliminary nature of many of these proceedings, the difficulty in ascertaining the applicable facts relating to many of these proceedings, the inconsistent treatment of claims made in many of these proceedings, and the difficulty of predicting the settlement value of many of these proceedings, we are often unable to estimate an amount or range of any reasonably possible losses. However, based upon our historical experience, the resolution of these proceedings is not expected to have a material effect on our consolidated financial position, results of operations, or cash flows.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Combinex Holding B.V. On June 3, 2021 we acquired all of the outstanding shares of Combinex to strengthen our European road transportation presence. Total purchase consideration, net of cash acquired was $14.7 million, which was paid in cash. Identifiable intangible assets and estimated useful lives are as follows (dollars in thousands): Estimated Life (years) Customer relationships 7 $ 3,942 There was $10.8 million of goodwill recorded related to the acquisition of Combinex. The Combinex goodwill is a result of acquiring and retaining the Combinex workforce and expected synergies from integrating its business into ours. Purchase accounting is considered preliminary. The goodwill will not be deductible for tax purposes. The results of operations of Combinex have been included as part of the All Other and Corporate segment in our consolidated financial statements since June 3, 2021. Prime Distribution Services On March 2, 2020, we acquired all of the outstanding shares of Prime Distribution Services (“Prime Distribution”), a leading provider of retail consolidation services in North America, for $222.7 million in cash. This acquisition adds scale and value-added warehouse capabilities to our retail consolidation platform, adding to our global suite of services. The following is a summary of the allocation of purchase consideration to the estimated fair value of net assets for the acquisition of Prime Distribution. Current assets $ 8,879 Property and equipment 7,356 Right-of-use lease assets 35,017 Other intangible assets 55,000 Goodwill 176,727 Total assets 282,979 Current liabilities 12,243 Lease liabilities 35,017 Deferred tax liabilities 13,001 Net assets acquired $ 222,718 Identifiable intangible assets and estimated useful lives are as follows (dollars in thousands): Estimated Life (years) Customer relationships 7 $ 55,000

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Our reportable segments are based on our method of internal reporting, which generally segregates the segments by service line and the primary services they provide to our customers. We identify two reportable segments in addition to All Other and Corporate as summarized below: • North American Surface Transportation— NAST provides freight transportation services across North America through a network of offices in the United States, Canada, and Mexico. The primary services provided by NAST include truckload and less than truckload (“LTL”) transportation services. • Global Forwarding— Global Forwarding provides global logistics services through an international network of offices in North America, Asia, Europe, Oceania, and South America and also contracts with independent agents worldwide. The primary services provided by Global Forwarding include ocean freight services, air freight services, and customs brokerage. • All Other and Corporate— All Other and Corporate includes our Robinson Fresh and Managed Services segments, as well as Other Surface Transportation outside of North America and other miscellaneous revenues and unallocated corporate expenses. Robinson Fresh provides sourcing services including the buying, selling, and marketing of fresh fruits, vegetables, and other perishable items. Managed Services provides Transportation Management Services, or Managed TMS ® . Other Surface Transportation revenues are primarily earned by Europe Surface Transportation. Europe Surface Transportation provides transportation and logistics services including truckload and groupage services across Europe. The internal reporting of segments is defined, based in part, on the reporting and review process used by our chief operating decision maker (“CODM”), our Chief Executive Officer. The accounting policies of our reportable segments are the same as those described in the summary of significant accounting policies. We do not report our intersegment revenues by reportable segment to our CODM and do not believe they are a meaningful metric for evaluating the performance of our reportable segments. Reportable segment information as of, and for the three and nine months ended September 30, 2021 and 2020, is as follows (dollars in thousands): NAST Global Forwarding All Other and Corporate Consolidated Three Months Ended September 30, 2021 Total revenues $ 3,814,988 $ 1,978,901 $ 469,806 $ 6,263,695 Income (loss) from operations 149,035 165,155 (3,421) 310,769 Depreciation and amortization 6,620 5,427 10,359 22,406 Total assets (1) 3,437,461 2,438,106 727,039 6,602,606 Average headcount 6,764 5,167 4,037 15,968 NAST Global Forwarding All Other and Corporate Consolidated Three Months Ended September 30, 2020 Total revenues $ 2,923,842 $ 831,957 $ 469,001 $ 4,224,800 Income (loss) from operations 122,526 46,299 (586) 168,239 Depreciation and amortization 7,095 9,385 10,436 26,916 Total assets (1) 3,041,974 1,148,118 884,746 5,074,838 Average headcount 6,702 4,607 3,595 14,904 NAST Global Forwarding All Other and Corporate Consolidated Nine Months Ended September 30, 2021 Total revenues $ 10,611,892 $ 4,585,734 $ 1,402,664 $ 16,600,290 Income (loss) from operations 436,911 363,956 (6,165) 794,702 Depreciation and amortization 19,779 17,352 31,490 68,621 Total assets (1) 3,437,461 2,438,106 727,039 6,602,606 Average headcount 6,650 4,951 3,881 15,482 NAST Global Forwarding All Other and Corporate Consolidated Nine Months Ended September 30, 2020 Total revenues $ 8,222,879 $ 2,070,161 $ 1,364,614 $ 11,657,654 Income (loss) from operations 357,898 117,033 (8,465) 466,466 Depreciation and amortization 19,550 27,740 29,777 77,067 Total assets (1) 3,041,974 1,148,118 884,746 5,074,838 Average headcount 6,870 4,716 3,591 15,177 _________________________________________

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS A summary of our total revenues disaggregated by major service line and timing of revenue recognition is presented below for each of our reportable segments for the three and nine months ended September 30, 2021 and 2020 (in thousands): Three Months Ended September 30, 2021 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 3,814,988 $ 1,978,901 $ 206,012 $ 5,999,901 Sourcing (2) — — 263,794 263,794 Total $ 3,814,988 $ 1,978,901 $ 469,806 $ 6,263,695 Three Months Ended September 30, 2020 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 2,923,842 $ 831,957 $ 189,182 $ 3,944,981 Sourcing (2) — — 279,819 279,819 Total $ 2,923,842 $ 831,957 $ 469,001 $ 4,224,800 Nine Months Ended September 30, 2021 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 10,611,892 $ 4,585,734 $ 602,950 $ 15,800,576 Sourcing (2) — — 799,714 799,714 Total $ 10,611,892 $ 4,585,734 $ 1,402,664 $ 16,600,290 Nine Months Ended September 30, 2020 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 8,222,879 $ 2,070,161 $ 542,670 $ 10,835,710 Sourcing (2) — — 821,944 821,944 Total $ 8,222,879 $ 2,070,161 $ 1,364,614 $ 11,657,654 ____________________________________________ (1) Transportation and logistics services performance obligations are completed over time. (2) Sourcing performance obligations are completed at a point in time. We typically do not receive consideration and amounts are not due from our customer prior to the completion of our performance obligation and as such contract liabilities, as of September 30, 2021, and revenue recognized in the three and nine months ended September 30, 2021 and 2020 resulting from contract liabilities, were not significant. Contract assets and accrued expenses-transportation expense fluctuate from period to period primarily based upon shipments in-transit at period end.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES	LEASES We determine if our contractual agreements contain a lease at inception. A lease is identified when a contract allows us the right to control an identified asset for a period of time in exchange for consideration. Our lease agreements consist primarily of operating leases for office space, warehouses, office equipment, and a small number of intermodal containers. We do not have material financing leases. Frequently, we enter into contractual relationships with a wide variety of transportation companies for freight capacity, and utilize those relationships to efficiently and cost-effectively arrange the transport of our customers’ freight. These contracts typically have a term of 12 months or less and do not allow us to direct the use or obtain substantially all of the economic benefits of a specifically identified asset. Accordingly, these agreements are not considered leases. In addition, we have made a policy election to not apply the guidance of ASC 842, Leases , to leases with a term of 12 months or less as allowed by the standard. These leases are recognized as expense on a straight-line basis over the lease term. Our operating leases are included on the consolidated balance sheets as right-of-use lease assets and lease liabilities. A right-of-use lease asset represents our right to use an underlying asset over the term of a lease while a lease liability represents our obligation to make lease payments arising from the lease. Current and noncurrent lease liabilities are recognized at commencement date at the present value of lease payments, including non-lease components, which consist primarily of common area maintenance charges. Right-of-use lease assets are also recognized at commencement date as the total lease liability plus prepaid rents and less any deferred rent liability that existed under ASC 840, Leases, upon transition. As most of our leases do not provide an implicit rate, we use our fully collateralized incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate is influenced by our credit rating and lease term and as such may differ for individual leases. Our lease agreements typically do not contain variable lease payments, residual value guarantees, purchase options, or restrictive covenants. Many of our leases include the option to renew for a period of months to several years. The term of our leases may include the option to renew when it is reasonably certain that we will exercise that option although these occurrences are seldom. We have lease agreements with lease components (e.g., payments for rent) and non-lease components (e.g., payments for common area maintenance and parking), which are all accounted for as a single lease component. We do not have material lease agreements that have not yet commenced that are expected to create significant rights or obligations as of September 30, 2021. Information regarding lease expense, remaining lease term, discount rate, and other select lease information is presented below as of September 30, 2021, and for the three and nine months ended September 30, 2021 (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Costs 2021 2020 2021 2020 Operating lease expense $ 21,220 $ 22,373 $ 64,241 $ 63,855 Short-term lease expense 2,871 3,626 5,934 10,225 Total lease expense $ 24,091 $ 25,999 $ 70,175 $ 74,080 Nine Months Ended September 30, Other Lease Information 2021 2020 Operating cash flows from operating leases $ 70,997 $ 60,569 Right-of-use lease assets obtained in exchange for new lease liabilities 38,028 88,857 Lease Term and Discount Rate As of September 30, 2021 Weighted average remaining lease term (in years) (1) 6.5 Weighted average discount rate 3.0 % ____________________________________________ (1) The weighted average remaining lease term is significantly impacted by a 15-year lease related to office space in Chicago, IL, that commenced in 2018. Excluding this lease, the weighted average remaining lease term of our agreements is 4.4 years. The maturities of lease liabilities as of September 30, 2021, were as follows (in thousands): Maturity of Lease Liabilities Operating Leases Remaining 2021 $ 14,165 2022 79,177 2023 65,008 2024 44,974 2025 33,834 Thereafter 112,063 Total lease payments 349,221 Less: Interest (36,849) Present value of lease liabilities $ 312,372

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
	Sep. 30, 2021
Credit Loss [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES Our allowance for credit losses is computed using a number of factors including our past credit loss experience, the aging of amounts due from our customers, and our customers' credit ratings, in addition to other customer specific factors. We have also assessed the current macroeconomic environment, including the impact of the COVID-19 pandemic, to determine our ending allowance for credit losses for both accounts receivable and contract assets. The allowance for credit losses on contract assets was not significant. A rollforward of our allowance for credit losses on our accounts receivable balance is presented below for the nine months ended September 30, 2021: Balance, December 31, 2020 $ 38,113 Provision 2,885 Write-offs (3,884) Balance, September 30, 2021 $ 37,114

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSSAccumulated other comprehensive loss is included in Stockholders' investment on our condensed consolidated balance sheets. The recorded balance at September 30, 2021 and December 31, 2020, was $65.5 million and $46.0 million, respectively. Accumulated other comprehensive loss is comprised solely of foreign currency adjustments at September 30, 2021 and December 31, 2020. Other comprehensive loss was $12.0 million compared to other comprehensive income of $13.2 million for the three months ended September 30, 2021 and 2020, respectively. Other comprehensive loss was $19.5 million compared to other comprehensive income of $5.3 million for the nine months ended September 30, 2021 and 2020, respectively. Other comprehensive loss and income consisted of foreign currency adjustments, including foreign currency translation, for the three and nine months ended September 30, 2021 and 2020.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION C.H. Robinson Worldwide, Inc., and our subsidiaries (“the company,” “we,” “us,” or “our”) are a global provider of transportation services and logistics solutions operating through a network of offices located in North America, Europe, Asia, Oceania, and South America. The consolidated financial statements include the accounts of C.H. Robinson Worldwide, Inc., and our majority owned and controlled subsidiaries. Our minority interests in subsidiaries are not significant. All intercompany transactions and balances have been eliminated in the consolidated financial statements. Our reportable segments are NAST and Global Forwarding with all other segments included in All Other and Corporate. The All Other and Corporate reportable segment includes Robinson Fresh, Managed Services, Other Surface Transportation outside of North America, and other miscellaneous revenues and unallocated corporate expenses. For financial information concerning our reportable segments, refer to Note 9, Segment Reporting . The condensed consolidated financial statements, which are unaudited, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the financial statements for the interim periods presented. Interim results are not necessarily indicative of results for a full year.
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,
GOODWILL	Goodwill is tested at least annually for impairment on November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. We first perform a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting units is less than their respective carrying value (“Step Zero Analysis”). If the Step Zero Analysis indicates it is more likely than not that the fair value of our reporting units is less than their respective carrying value, an additional impairment assessment is performed (“Step One Analysis”). We considered whether there were any changes in circumstances indicating that our goodwill might be impaired, including consideration of the ongoing impacts of the COVID-19 pandemic on financial markets and our business operations, and determined the more likely than not criteria had not been met, and therefore a Step One Analysis was not required as of September 30, 2021.
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: • Level 1 — Quoted market prices in active markets for identical assets or liabilities. • Level 2 — Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3 — Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in carrying amount of goodwill is as follows (in thousands): NAST Global Forwarding All Other and Corporate Total Balance, December 31, 2020 $ 1,203,972 $ 213,982 $ 69,233 $ 1,487,187 Acquisitions 243 — 10,754 10,997 Foreign currency translation (7,894) (2,668) (1,423) (11,985) Balance September 30, 2021 $ 1,196,321 $ 211,314 $ 78,564 $ 1,486,199
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following (in thousands): September 30, 2021 December 31, 2020 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Finite-lived intangibles Customer relationships $ 169,540 $ (82,115) $ 87,425 $ 171,684 $ (67,312) $ 104,372 Trademarks — — — 1,875 (937) 938 Total finite-lived intangibles 169,540 (82,115) 87,425 173,559 (68,249) 105,310 Indefinite-lived intangibles Trademarks 8,600 — 8,600 8,600 — 8,600 Total intangibles $ 178,140 $ (82,115) $ 96,025 $ 182,159 $ (68,249) $ 113,910
Schedule of Amortization Expense	Amortization expense for other intangible assets is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization expense $ 6,130 $ 9,937 $ 19,416 $ 27,968
Schedule of Future Amortization of Finite-Lived Intangible Assets	Finite-lived intangible assets, by reportable segment, as of September 30, 2021, will be amortized over their remaining lives as follows (in thousands): NAST Global Forwarding All Other and Corporate Total Remaining 2021 $ 2,024 $ 3,738 $ 293 $ 6,055 2022 8,096 14,953 1,171 24,220 2023 8,096 12,304 1,171 21,571 2024 7,991 3,778 1,171 12,940 2025 7,857 2,479 1,171 11,507 Thereafter 9,168 403 1,561 11,132 Total $ 87,425

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Components of Short-term and Long-term Debt	The components of our short-term and long-term debt and the associated interest rates were as follows (dollars in thousands): Average interest rate as of Carrying value as of September 30, 2021 December 31, 2020 Maturity September 30, 2021 December 31, 2020 Revolving credit facility 1.20 % — % October 2023 $ 632,000 $ — Senior Notes, Series A 3.97 % 3.97 % August 2023 175,000 175,000 Senior Notes, Series B 4.26 % 4.26 % August 2028 150,000 150,000 Senior Notes, Series C 4.60 % 4.60 % August 2033 175,000 175,000 Senior Notes (1) 4.20 % 4.20 % April 2028 593,950 593,301 Total debt 1,725,950 1,093,301 Less: Current maturities and short-term borrowing (632,000) — Long-term debt $ 1,093,950 $ 1,093,301 ____________________________________________ (1) Net of unamortized discounts and issuance costs.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the provision for income taxes using the statutory federal income tax rate to our effective income tax rate for the three and nine months ended September 30, 2021and 2020, is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 0.6 2.0 1.5 2.4 Share based payment awards 0.4 (3.8) (0.8) (4.1) Foreign tax credits (0.1) (5.2) (0.3) (3.1) Foreign (4.2) 0.3 (1.5) 1.2 Other (1.7) 0.8 (1.4) (0.1) Effective income tax rate 16.0 % 15.1 % 18.5 % 17.3 %

STOCK AWARD PLANS (Tables)

STOCK AWARD PLANS (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation	A summary of our total compensation expense recognized in our condensed consolidated statements of operations and comprehensive income for stock-based compensation is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options $ 4,070 $ 5,081 $ 12,064 $ 15,119 Stock awards 36,012 5,042 79,361 15,736 Company expense on ESPP discount 730 653 2,537 2,272 Total stock-based compensation expense $ 40,812 $ 10,776 $ 93,962 $ 33,127
Schedule Employee Stock Purchase Plan Activity	The following is a summary of the employee stock purchase plan activity (dollars in thousands): Three Months Ended September 30, 2021 Shares purchased by employees Aggregate cost to employees Expense recognized by the company 55,904 $ 4,134 $ 730

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2021
Combinex Holding B.V.
Business Acquisition [Line Items]
Schedule of Identifiable Intangible Assets and Estimated Useful Lives	Identifiable intangible assets and estimated useful lives are as follows (dollars in thousands): Estimated Life (years) Customer relationships 7 $ 3,942
Prime Distribution
Business Acquisition [Line Items]
Schedule of Identifiable Intangible Assets and Estimated Useful Lives	Identifiable intangible assets and estimated useful lives are as follows (dollars in thousands): Estimated Life (years) Customer relationships 7 $ 55,000
Schedule of Allocation of Purchase Consideration to Estimated Fair Value of Net Assets	The following is a summary of the allocation of purchase consideration to the estimated fair value of net assets for the acquisition of Prime Distribution. Current assets $ 8,879 Property and equipment 7,356 Right-of-use lease assets 35,017 Other intangible assets 55,000 Goodwill 176,727 Total assets 282,979 Current liabilities 12,243 Lease liabilities 35,017 Deferred tax liabilities 13,001 Net assets acquired $ 222,718

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Summary of Segment Information	Reportable segment information as of, and for the three and nine months ended September 30, 2021 and 2020, is as follows (dollars in thousands): NAST Global Forwarding All Other and Corporate Consolidated Three Months Ended September 30, 2021 Total revenues $ 3,814,988 $ 1,978,901 $ 469,806 $ 6,263,695 Income (loss) from operations 149,035 165,155 (3,421) 310,769 Depreciation and amortization 6,620 5,427 10,359 22,406 Total assets (1) 3,437,461 2,438,106 727,039 6,602,606 Average headcount 6,764 5,167 4,037 15,968 NAST Global Forwarding All Other and Corporate Consolidated Three Months Ended September 30, 2020 Total revenues $ 2,923,842 $ 831,957 $ 469,001 $ 4,224,800 Income (loss) from operations 122,526 46,299 (586) 168,239 Depreciation and amortization 7,095 9,385 10,436 26,916 Total assets (1) 3,041,974 1,148,118 884,746 5,074,838 Average headcount 6,702 4,607 3,595 14,904 NAST Global Forwarding All Other and Corporate Consolidated Nine Months Ended September 30, 2021 Total revenues $ 10,611,892 $ 4,585,734 $ 1,402,664 $ 16,600,290 Income (loss) from operations 436,911 363,956 (6,165) 794,702 Depreciation and amortization 19,779 17,352 31,490 68,621 Total assets (1) 3,437,461 2,438,106 727,039 6,602,606 Average headcount 6,650 4,951 3,881 15,482 NAST Global Forwarding All Other and Corporate Consolidated Nine Months Ended September 30, 2020 Total revenues $ 8,222,879 $ 2,070,161 $ 1,364,614 $ 11,657,654 Income (loss) from operations 357,898 117,033 (8,465) 466,466 Depreciation and amortization 19,550 27,740 29,777 77,067 Total assets (1) 3,041,974 1,148,118 884,746 5,074,838 Average headcount 6,870 4,716 3,591 15,177 _________________________________________

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of Total Revenues Disaggregated by Major Service Line and Timing of Revenue Recognition	A summary of our total revenues disaggregated by major service line and timing of revenue recognition is presented below for each of our reportable segments for the three and nine months ended September 30, 2021 and 2020 (in thousands): Three Months Ended September 30, 2021 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 3,814,988 $ 1,978,901 $ 206,012 $ 5,999,901 Sourcing (2) — — 263,794 263,794 Total $ 3,814,988 $ 1,978,901 $ 469,806 $ 6,263,695 Three Months Ended September 30, 2020 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 2,923,842 $ 831,957 $ 189,182 $ 3,944,981 Sourcing (2) — — 279,819 279,819 Total $ 2,923,842 $ 831,957 $ 469,001 $ 4,224,800 Nine Months Ended September 30, 2021 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 10,611,892 $ 4,585,734 $ 602,950 $ 15,800,576 Sourcing (2) — — 799,714 799,714 Total $ 10,611,892 $ 4,585,734 $ 1,402,664 $ 16,600,290 Nine Months Ended September 30, 2020 NAST Global Forwarding All Other and Corporate Total Major Service Lines Transportation and logistics services (1) $ 8,222,879 $ 2,070,161 $ 542,670 $ 10,835,710 Sourcing (2) — — 821,944 821,944 Total $ 8,222,879 $ 2,070,161 $ 1,364,614 $ 11,657,654 ____________________________________________ (1) Transportation and logistics services performance obligations are completed over time. (2) Sourcing performance obligations are completed at a point in time.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Lease Expense, Remaining Lease Terms, Discount Rate and Other Information	Information regarding lease expense, remaining lease term, discount rate, and other select lease information is presented below as of September 30, 2021, and for the three and nine months ended September 30, 2021 (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Costs 2021 2020 2021 2020 Operating lease expense $ 21,220 $ 22,373 $ 64,241 $ 63,855 Short-term lease expense 2,871 3,626 5,934 10,225 Total lease expense $ 24,091 $ 25,999 $ 70,175 $ 74,080 Nine Months Ended September 30, Other Lease Information 2021 2020 Operating cash flows from operating leases $ 70,997 $ 60,569 Right-of-use lease assets obtained in exchange for new lease liabilities 38,028 88,857 Lease Term and Discount Rate As of September 30, 2021 Weighted average remaining lease term (in years) (1) 6.5 Weighted average discount rate 3.0 % ____________________________________________
Schedule of Maturity of Lease Liabilities	The maturities of lease liabilities as of September 30, 2021, were as follows (in thousands): Maturity of Lease Liabilities Operating Leases Remaining 2021 $ 14,165 2022 79,177 2023 65,008 2024 44,974 2025 33,834 Thereafter 112,063 Total lease payments 349,221 Less: Interest (36,849) Present value of lease liabilities $ 312,372

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
	Sep. 30, 2021
Credit Loss [Abstract]
Schedule of Allowance for Credit Loss on Accounts Receivable	A rollforward of our allowance for credit losses on our accounts receivable balance is presented below for the nine months ended September 30, 2021: Balance, December 31, 2020 $ 38,113 Provision 2,885 Write-offs (3,884) Balance, September 30, 2021 $ 37,114

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,487,187
Acquisitions	10,997
Foreign currency translation	(11,985)
Balance, end of period	1,486,199
NAST
Goodwill [Roll Forward]
Balance, beginning of period	1,203,972
Acquisitions	243
Foreign currency translation	(7,894)
Balance, end of period	1,196,321
Global Forwarding
Goodwill [Roll Forward]
Balance, beginning of period	213,982
Acquisitions	0
Foreign currency translation	(2,668)
Balance, end of period	211,314
All Other and Corporate
Goodwill [Roll Forward]
Balance, beginning of period	69,233
Acquisitions	10,754
Foreign currency translation	(1,423)
Balance, end of period	$ 78,564

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-lived intangibles
Finite-lived intangibles, Cost	$ 169,540	$ 173,559
Accumulated Amortization	(82,115)	(68,249)
Finite-lived intangible assets, net	87,425	105,310
Indefinite-lived intangibles
Total intangibles, Cost	178,140	182,159
Total intangibles, Net	96,025	113,910
Trademarks
Indefinite-lived intangibles
Indefinite-lived intangibles	8,600	8,600
Customer relationships
Finite-lived intangibles
Finite-lived intangibles, Cost	169,540	171,684
Accumulated Amortization	(82,115)	(67,312)
Finite-lived intangible assets, net	87,425	104,372
Trademarks
Finite-lived intangibles
Finite-lived intangibles, Cost	0	1,875
Accumulated Amortization	0	(937)
Finite-lived intangible assets, net	$ 0	$ 938

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6,130	$ 9,937	$ 19,416	$ 27,968

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Over Remaining Life (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Estimated amortization expense
Remaining 2021	$ 6,055
2022	24,220
2023	21,571
2024	12,940
2025	11,507
Thereafter	11,132
Finite-lived intangible assets, net	87,425	$ 105,310
NAST
Estimated amortization expense
Remaining 2021	2,024
2022	8,096
2023	8,096
2024	7,991
2025	7,857
Thereafter	9,168
Global Forwarding
Estimated amortization expense
Remaining 2021	3,738
2022	14,953
2023	12,304
2024	3,778
2025	2,479
Thereafter	403
All Other and Corporate
Estimated amortization expense
Remaining 2021	293
2022	1,171
2023	1,171
2024	1,171
2025	1,171
Thereafter	$ 1,561

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - Level 3 - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Level 3 Fair Value
Assets at fair value	$ 0	$ 0
Liabilities at fair value	$ 0	$ 0

FINANCING ARRANGEMENTS - Compon

FINANCING ARRANGEMENTS - Components of Short-term and Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total debt	$ 1,725,950	$ 1,093,301
Less: Current maturities and short-term borrowing	(632,000)	0
Long-term debt	$ 1,093,950	$ 1,093,301
Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Average interest rate (percent)	1.20%	0.00%
Total debt	$ 632,000	$ 0
Senior Notes, Series A | Senior notes
Debt Instrument [Line Items]
Average interest rate (percent)	3.97%	3.97%
Total debt	$ 175,000	$ 175,000
Senior Notes, Series B | Senior notes
Debt Instrument [Line Items]
Average interest rate (percent)	4.26%	4.26%
Total debt	$ 150,000	$ 150,000
Senior Notes, Series C | Senior notes
Debt Instrument [Line Items]
Average interest rate (percent)	4.60%	4.60%
Total debt	$ 175,000	$ 175,000
Senior Notes | Unsecured debt
Debt Instrument [Line Items]
Average interest rate (percent)	4.20%	4.20%
Total debt	$ 593,950	$ 593,301

FINANCING ARRANGEMENTS - Narrat

FINANCING ARRANGEMENTS - Narrative (Details)	Dec. 17, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 03, 2021USD ($)	Dec. 31, 2020USD ($)	Aug. 27, 2013USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 1,725,950,000	$ 1,725,950,000		$ 1,093,301,000
Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000,000	$ 1,000,000,000
Maximum leverage ratio		3.50	3.50
Long-term debt		$ 632,000,000	$ 632,000,000		0
Revolving credit facility | Line of credit | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			0.50%
Revolving credit facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.13%
Revolving credit facility | Line of credit | Minimum
Debt Instrument [Line Items]
Commitment fee (percent)			0.075%
Revolving credit facility | Line of credit | Maximum
Debt Instrument [Line Items]
Commitment fee (percent)			0.20%
Combinex credit facility | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 3,600,000
Repayment on credit facility		2,200,000
US Bank | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity		15,000,000	$ 15,000,000
US Bank | Standby letters of credit
Debt Instrument [Line Items]
Line of credit utilized for standby letters of credit related to insurance collateral		$ 8,000,000	$ 8,000,000
Note Purchase Agreement | Senior notes
Debt Instrument [Line Items]
Maximum leverage ratio		3	3
Minimum interest coverage ratio			2
Debt instrument principal amount						$ 500,000,000
Long-term debt, fair value		$ 546,000,000	$ 546,000,000
Maximum priority debt to total assets ratio (percent)			15.00%
Debt instrument, redemption price (percent)			100.00%
Senior Notes Due 2028 | Unsecured debt
Debt Instrument [Line Items]
Long-term debt, fair value		$ 680,200,000	$ 680,200,000
Debt instrument, redemption price (percent)			101.00%
Debt instrument, annual interest rate (percent)		4.20%	4.20%
Long-term debt		$ 593,950,000	$ 593,950,000		$ 593,301,000
Debt instrument, effective yield (percent)		4.39%	4.39%
Threshold for holders of principal outstanding to declare principal and unpaid interest payable (percent)			25.00%
Receivables securitization facility | Secured debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000
Receivables securitization facility | Secured debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.65%

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Effective Income Tax Rate Reconciliation
Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	0.60%	2.00%	1.50%	2.40%
Share based payment awards	0.40%	(3.80%)	(0.80%)	(4.10%)
Foreign tax credits	(0.10%)	(5.20%)	(0.30%)	(3.10%)
Foreign	(4.20%)	0.30%	(1.50%)	1.20%
Other	(1.70%)	0.80%	(1.40%)	(0.10%)
Effective income tax rate	16.00%	15.10%	18.50%	17.30%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Millions	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Income Tax Disclosure [Abstract]
Estimated increase in income taxes payable if all foreign earnings were repatriated	$ 2
Payroll tax deferral, CARES Act		$ 28.5
Payroll tax credit, CARES Act		0.7
Unrecognized tax benefits and related interest and penalties, all of which would affect our effective tax rate if recognized	40	40
Decrease in unrecognized tax benefits due to lapse of statute of limitations	$ 5.6	$ 5.6

STOCK AWARD PLANS - Total Compe

STOCK AWARD PLANS - Total Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 40,812	$ 10,776	$ 93,962	$ 33,127
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,070	5,081	12,064	15,119
Stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	36,012	5,042	79,361	15,736
Company expense on ESPP discount
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 730	$ 653	$ 2,537	$ 2,272

STOCK AWARD PLANS - Narrative (

STOCK AWARD PLANS - Narrative (Details) - USD ($)	Feb. 03, 2021	May 09, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (shares)		4,000,000
Maximum shares that can be granted under stock plan (shares)			17,041,803		17,041,803
Shares available for stock awards (shares)			1,765,322		1,765,322
Stock-based compensation expense			$ 40,812,000	$ 10,776,000	$ 93,962,000	$ 33,127,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			30,600,000		30,600,000
Stock-based compensation expense			4,070,000	$ 5,081,000	12,064,000	$ 15,119,000
Stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			99,900,000		$ 99,900,000
Stock awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount on outstanding grants (percent)					12.00%
Stock awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount on outstanding grants (percent)					24.00%
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (shares)	280,255
Weighted average grant date fair value (in dollars per share)	$ 74.76
Award vesting period	3 years
Upside opportunity upon achievement of targets (percent)	200.00%
Time-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted (shares)	619,689
Weighted average grant date fair value (in dollars per share)	$ 71.28
Award vesting period	3 years
1997 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum employee contribution to purchase company stock			$ 10,000		$ 10,000
Discount rate used to determine the purchase price					15.00%

STOCK AWARD PLANS - Employee St

STOCK AWARD PLANS - Employee Stock Purchase Plan Activity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased by employees (shares)	55,904
Aggregate cost to employees	$ 4,134
Expense recognized by the company	40,812	$ 10,776	$ 93,962	$ 33,127
Company expense on ESPP discount
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense recognized by the company	$ 730	$ 653	$ 2,537	$ 2,272

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Jun. 03, 2021	Mar. 02, 2020	Sep. 30, 2021
Business Acquisition [Line Items]
Goodwill recorded in acquisition			$ 10,997
Combinex Holding B.V.
Business Acquisition [Line Items]
Cash consideration for acquisition	$ 14,700
Goodwill recorded in acquisition	$ 10,800
Prime Distribution
Business Acquisition [Line Items]
Cash consideration for acquisition		$ 222,700
Goodwill recorded in acquisition		$ 176,700

ACQUISITIONS - Identifiable Int

ACQUISITIONS - Identifiable Intangible Assets and Estimated Useful Lives (Details) - USD ($) $ in Thousands	Jun. 03, 2021	Mar. 02, 2020
Prime Distribution
Business Acquisition [Line Items]
Identifiable intangible assets		$ 55,000
Customer relationships | Combinex Holding B.V.
Business Acquisition [Line Items]
Estimated life (years)	7 years
Identifiable intangible assets	$ 3,942
Customer relationships | Prime Distribution
Business Acquisition [Line Items]
Estimated life (years)		7 years
Identifiable intangible assets		$ 55,000

ACQUISITIONS - Allocation of Pu

ACQUISITIONS - Allocation of Purchase Consideration (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Mar. 02, 2020
Allocation of Purchase Consideration
Goodwill	$ 1,486,199	$ 1,487,187
Prime Distribution
Allocation of Purchase Consideration
Current assets			$ 8,879
Property and equipment			7,356
Right-of-use lease assets			35,017
Other intangible assets			55,000
Goodwill			176,727
Total assets			282,979
Current liabilities			12,243
Lease liabilities			35,017
Deferred tax liabilities			13,001
Net assets acquired			$ 222,718

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	9 Months Ended
	Sep. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT REPORTING - Reportable

SEGMENT REPORTING - Reportable Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)employee	Sep. 30, 2020USD ($)employee	Sep. 30, 2021USD ($)employee	Sep. 30, 2020USD ($)employee	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Total revenues	$ 6,263,695	$ 4,224,800	$ 16,600,290	$ 11,657,654
Income (loss) from operations	310,769	168,239	794,702	466,466
Depreciation and amortization	22,406	26,916	68,621	77,067
Total assets	$ 6,602,606	$ 5,074,838	$ 6,602,606	$ 5,074,838	$ 5,144,258
Average headcount (employee) | employee	15,968	14,904	15,482	15,177
NAST
Segment Reporting Information [Line Items]
Total revenues	$ 3,814,988	$ 2,923,842	$ 10,611,892	$ 8,222,879
Income (loss) from operations	149,035	122,526	436,911	357,898
Depreciation and amortization	6,620	7,095	19,779	19,550
Total assets	$ 3,437,461	$ 3,041,974	$ 3,437,461	$ 3,041,974
Average headcount (employee) | employee	6,764	6,702	6,650	6,870
Global Forwarding
Segment Reporting Information [Line Items]
Total revenues	$ 1,978,901	$ 831,957	$ 4,585,734	$ 2,070,161
Income (loss) from operations	165,155	46,299	363,956	117,033
Depreciation and amortization	5,427	9,385	17,352	27,740
Total assets	$ 2,438,106	$ 1,148,118	$ 2,438,106	$ 1,148,118
Average headcount (employee) | employee	5,167	4,607	4,951	4,716
All Other and Corporate
Segment Reporting Information [Line Items]
Total revenues	$ 469,806	$ 469,001	$ 1,402,664	$ 1,364,614
Income (loss) from operations	(3,421)	(586)	(6,165)	(8,465)
Depreciation and amortization	10,359	10,436	31,490	29,777
Total assets	$ 727,039	$ 884,746	$ 727,039	$ 884,746
Average headcount (employee) | employee	4,037	3,595	3,881	3,591

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 6,263,695	$ 4,224,800	$ 16,600,290	$ 11,657,654
NAST
Disaggregation of Revenue [Line Items]
Total revenues	3,814,988	2,923,842	10,611,892	8,222,879
Global Forwarding
Disaggregation of Revenue [Line Items]
Total revenues	1,978,901	831,957	4,585,734	2,070,161
All Other and Corporate
Disaggregation of Revenue [Line Items]
Total revenues	469,806	469,001	1,402,664	1,364,614
Transportation and logistics services
Disaggregation of Revenue [Line Items]
Total revenues	5,999,901	3,944,981	15,800,576	10,835,710
Transportation and logistics services | Performance obligations completed over time
Disaggregation of Revenue [Line Items]
Total revenues	5,999,901	3,944,981	15,800,576	10,835,710
Transportation and logistics services | NAST | Performance obligations completed over time
Disaggregation of Revenue [Line Items]
Total revenues	3,814,988	2,923,842	10,611,892	8,222,879
Transportation and logistics services | Global Forwarding | Performance obligations completed over time
Disaggregation of Revenue [Line Items]
Total revenues	1,978,901	831,957	4,585,734	2,070,161
Transportation and logistics services | All Other and Corporate | Performance obligations completed over time
Disaggregation of Revenue [Line Items]
Total revenues	206,012	189,182	602,950	542,670
Sourcing
Disaggregation of Revenue [Line Items]
Total revenues	263,794	279,819	799,714	821,944
Sourcing | Performance obligations completed at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	263,794	279,819	799,714	821,944
Sourcing | NAST | Performance obligations completed at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Sourcing | Global Forwarding | Performance obligations completed at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Sourcing | All Other and Corporate | Performance obligations completed at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	$ 263,794	$ 279,819	$ 799,714	$ 821,944

LEASES - Lease Data (Details)

LEASES - Lease Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lease Costs
Operating lease expense	$ 21,220	$ 22,373	$ 64,241	$ 63,855
Short-term lease expense	2,871	3,626	5,934	10,225
Total lease expense	$ 24,091	$ 25,999	70,175	74,080
Other Lease Information
Operating cash flows from operating leases			70,997	60,569
Right-of-use lease assets obtained in exchange for new lease liabilities			$ 38,028	$ 88,857
Lease Term and Discount Rate
Weighted average remaining lease term (in years)	6 years 6 months		6 years 6 months
Weighted average discount rate (percent)	3.00%		3.00%
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term, excluding Chicago office space (in years)			4 years 4 months 24 days
Chicago Office Space
Lessee, Lease, Description [Line Items]
Lease term (in years)	15 years		15 years

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2021USD ($)
Maturities of lease liabilities
Remaining 2021	$ 14,165
2022	79,177
2023	65,008
2024	44,974
2025	33,834
Thereafter	112,063
Total lease payments	349,221
Less: Interest	(36,849)
Present value of lease liabilities	$ 312,372

ALLOWANCE FOR CREDIT LOSSES (De

ALLOWANCE FOR CREDIT LOSSES (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Rollforward of Allowance for Credit Loss
Allowance for credit loss, beginning balance	$ 38,113
Provision	2,885
Write-offs	(3,884)
Allowance for credit loss, ending balance	$ 37,114

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Accumulated other comprehensive loss	$ 65,480		$ 65,480		$ 45,998
Other comprehensive income (loss)	$ (12,034)	$ 13,236	$ (19,482)	$ 5,294