XPO Logistics (XPO) 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	XPO
Entity Registrant Name	XPO Logistics, Inc.
Entity Central Index Key	1,166,003
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		126,850,767

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 361.4	$ 396.9
Accounts receivable, net of allowances of $45.9 and $42.4, respectively	2,855.9	2,725.3
Other current assets	496	465.7
Total current assets	3,713.3	3,587.9
Property and equipment, net of $1,334.1 and $1,109.5 in accumulated depreciation, respectively	2,692.1	2,663.7
Goodwill	4,505.9	4,563.6
Identifiable intangible assets, net of $632.7 and $559.5 in accumulated amortization, respectively	1,340.5	1,435.3
Other long-term assets	367.9	351.1
Total long-term assets	8,906.4	9,013.7
Total assets	12,619.7	12,601.6
Current liabilities:
Accounts payable	1,209.2	1,250.7
Accrued expenses	1,501.8	1,525.8
Current maturities of long-term debt	84.9	103.7
Other current liabilities	144.2	116.9
Total current liabilities	2,940.1	2,997.1
Long-term debt	4,406.1	4,417.5
Deferred tax liability	422.8	418.8
Employee benefit obligations	159.5	162.1
Other long-term liabilities	551.5	596.1
Total long-term liabilities	5,539.9	5,594.5
Stockholders’ equity:
Convertible perpetual preferred stock, $0.001 par value; 10.0 shares authorized; 0.07 of Series A shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	41	41.2
Common stock, $0.001 par value; 300.0 shares authorized; 120.8 and 119.9 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	0.1	0.1
Additional paid-in capital	3,561.8	3,590
Retained earnings (accumulated deficit)	177.9	(42.6)
Accumulated other comprehensive (loss) income	(48.8)	15.7
Total stockholders' equity before noncontrolling interests	3,732	3,604.4
Noncontrolling interests	407.7	405.6
Total equity	4,139.7	4,010
Total liabilities and equity	$ 12,619.7	$ 12,601.6

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 45.9	$ 42.4
Property and equipment, accumulated depreciation	1,334.1	1,109.5
Identifiable intangible assets, accumulated amortization	$ 632.7	$ 559.5
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	70	70
Preferred stock, shares outstanding (in shares)	70	70
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	120,800	119,900
Common stock, shares outstanding (in shares)	120,800	119,900

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue	$ 4,363.5	$ 3,760.3	$ 8,555	$ 7,299.8
Operating expenses
Cost of transportation and services	2,274.5	1,970.4	4,499.1	3,858.4
Direct operating expense	1,406.7	1,202.7	2,782.4	2,348.7
Sales, general and administrative expense	454.3	412.1	904.5	813.8
Total operating expenses	4,135.5	3,585.2	8,186	7,020.9
Operating income	228	175.1	369	278.9
Other expense (income)	(30.2)	(12.5)	(49.8)	(19)
Foreign currency (gain) loss	(10)	28.3	2	38.9
Debt extinguishment loss	0	0	10.3	9
Interest expense	54.9	74.3	114.3	149.9
Income before income tax provision	213.3	85	292.2	100.1
Income tax provision	54.2	27.8	54	18
Net income	159.1	57.2	238.2	82.1
Net income attributable to noncontrolling interests	(10.1)	(5.3)	(16.6)	(8.9)
Net income attributable to XPO	149	51.9	221.6	73.2
Earnings per share data:
Net income attributable to common shareholders	$ 137.5	$ 47.6	$ 204.4	$ 67.1
Basic earnings per share (in dollars per share)	$ 1.14	$ 0.43	$ 1.70	$ 0.60
Diluted earnings per share (in dollars per share)	$ 1.03	$ 0.38	$ 1.53	$ 0.54
Weighted-average common shares outstanding
Basic weighted-average common shares outstanding (in shares)	120.7	111.8	120.4	111.6
Diluted weighted-average common shares outstanding (in shares)	134.1	124.7	133.7	124.6

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 159.1	$ 57.2	$ 238.2	$ 82.1
Other comprehensive (loss) income, net of tax
Foreign currency translation (loss) gain, net of tax effect of $13.3, $21.8, $31.6 and $21.8	(113.5)	97.6	(68.6)	130.2
Unrealized loss on financial assets/liabilities designated as hedging instruments, net of tax effect of $2.9, $(4.5), $(0.7) and $(3.0)	(8.8)	(3.6)	(8.5)	(5.1)
Defined benefit plans adjustments, net of tax effect of $-, $-, $0.1 and $-	(0.3)	(0.6)	(0.6)	0
Other comprehensive (loss) income	(122.6)	93.4	(77.7)	125.1
Comprehensive income	36.5	150.6	160.5	207.2
Less: Comprehensive (loss) income attributable to noncontrolling interests	(15.2)	25.8	3.4	34.9
Comprehensive income attributable to XPO	$ 51.7	$ 124.8	$ 157.1	$ 172.3

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - Parenthetical - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation (loss) gain, tax	$ 13.3	$ 21.8	$ 31.6	$ 21.8
Unrealized gains (losses) on financial assets/liabilities designated as hedging instruments, tax effect	2.9	(4.5)	(0.7)	(3)
Defined benefit plans adjustment, tax effect	$ 0	$ 0	$ 0.1	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Operating activities
Net income	$ 159.1		$ 57.2		$ 238.2	$ 82.1
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization	176.4		164.4		347.3	321.8
Stock compensation expense					45.2	33.5
Accretion of debt					7.7	9.7
Deferred tax expense (benefit)					8.1	(11)
Loss on extinguishment of debt	0	$ 10.3	0	$ 9	10.3	9
Unrealized (gain) loss on foreign currency option and forward contracts					(12.2)	40.4
Other					(43.7)	5.5
Changes in assets and liabilities:
Accounts receivable					(178.7)	(112.5)
Other assets					(102.8)	(36.8)
Accounts payable					(44.2)	(11.6)
Accrued expenses and other liabilities					(27.2)	(104.2)
Net cash provided by operating activities					248	225.9
Investing activities
Payment for purchases of property and equipment					(267.7)	(262)
Proceeds from sale of assets					61.5	42.2
Other					10.4	0
Net cash used by investing activities					(195.8)	(219.8)
Financing activities
Proceeds from issuance of long-term debt					893.6	523.5
Repurchase of debt					(812.4)	(511.4)
Proceeds from borrowings on ABL facility					680	320
Repayment of borrowings on ABL facility					(780)	(350)
Repayment of long-term debt and capital leases					(59.4)	(60.3)
Payment for debt issuance costs					(6.4)	(8.9)
Change in bank overdrafts					8.4	3.4
Payment for tax withholdings for restricted shares					(45.5)	(14.2)
Dividends paid					(1.6)	(1.7)
Other					4	1.1
Net cash used by financing activities					(119.3)	(98.5)
Effect of exchange rates on cash, cash equivalents and restricted cash					(7.3)	5.7
Net decrease in cash, cash equivalents and restricted cash					(74.4)	(86.7)
Cash, cash equivalents and restricted cash, beginning of period		$ 449		$ 399.8	449	399.8	$ 399.8
Cash, cash equivalents and restricted cash, end of period	$ 374.6		$ 313.1		374.6	313.1	$ 449
Supplemental disclosure of cash flow information:
Cash paid for interest					124.9	132.6
Cash paid for income taxes					$ 26.5	$ 41.4

Organization, Description of Bu

Organization, Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Description of Business and Basis of Presentation	Organization, Description of Business and Basis of Presentation XPO Logistics, Inc. and its subsidiaries (“XPO” or the “Company”) use an integrated network of people, technology and physical assets to help customers manage their goods more efficiently throughout their supply chains. The Company’s customers are multinational, national, mid-size and small enterprises. XPO runs its business on a global basis, with two reportable segments: Transportation and Logistics. See Note 2 —Segment Reporting for further information on the Company’s segments. The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements in accordance with the accounting policies described in its annual report on Form 10-K for the year ended December 31, 2017 (the “ 2017 Form 10-K”), except as described herein, and the interim reporting requirements of Form 10-Q. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the 2017 Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of financial condition, operating results and cash flows for the interim periods presented have been made. Interim results of operations are not necessarily indicative of the results of the full year. Certain reclassifications have been made to prior year amounts to conform to the current year’s presentation. Cash, Cash Equivalents and Restricted Cash At June 30, 2018 and December 31, 2017 , the total amount of restricted cash included in Other long-term assets on the Condensed Consolidated Balance Sheets was approximately $13.2 million and $52.1 million , respectively. Restricted cash primarily consisted of tax-deferred proceeds from a property sale in 2017 that was released in the second quarter of 2018. In accordance with the adoption of Accounting Standards Update (“ASU”) 2016-18, as discussed below, restricted cash was included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2018 and 2017 . Fair Value Measurements Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and classifies the inputs used to measure fair value into the following hierarchy: • Level 1—Quoted prices for identical instruments in active markets; • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; and • Level 3—Valuations based on inputs that are unobservable, generally utilizing pricing models or other valuation techniques that reflect management’s judgment and estimates. The fair value estimates are based upon certain market assumptions and information available to management. The carrying values of the following financial instruments approximated their fair values as of June 30, 2018 and December 31, 2017 : cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and current maturities of long-term debt. Fair values approximate carrying values for these financial instruments since they are short-term in nature or are receivable or payable on demand. The Level 1 cash equivalents include money market funds valued using quoted prices in active markets and cash collected on receivables which collateralize borrowings related to the Company’s trade securitization program (see Note 5 —Debt ). The Level 2 cash equivalents include short-term investments valued using published interest rates for instruments with similar terms and maturities. For information regarding the fair value hierarchy of the Company’s derivative instruments and financial liabilities , refer to Note 4 —Derivative Instruments and Note 5 —Debt , respectively. The following table summarizes the fair value hierarchy of cash equivalents: As of June 30, 2018 (In millions) Carrying Value Fair Value Level 1 Level 2 Cash equivalents $ 173.3 $ 173.3 $ 171.6 $ 1.7 As of December 31, 2017 (In millions) Carrying Value Fair Value Level 1 Level 2 Cash equivalents $ 91.1 $ 91.1 $ 75.4 $ 15.7 Adoption of New Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue (Topic 606): “Revenue from Contracts with Customers.” Topic 606 includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. As discussed further in Note 3 —Revenue Recognition , the Company adopted Topic 606 on January 1, 2018. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): “Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force).” This ASU addresses eight specific cash flow classification issues with the objective of reducing diversity in practice. Under the new standard, cash payments for debt prepayments or debt extinguishment costs should be classified as outflows for financing activities. Additional cash flow issues covered under the standard include: settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company adopted this standard on January 1, 2018. Adoption was on a prospective basis and did not have a material effect on the Company’s Condensed Consolidated Statements of Cash Flows . In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): “Restricted Cash.” This ASU requires that the statement of cash flows reconcile the change during the period in the total of cash, cash equivalents, and restricted cash. The Company adopted this standard on January 1, 2018 and applied its provisions retrospectively. The adoption of this standard decreased cash flows provided by operating activities by approximately $14 million and decreased cash flows used by investing activities by approximately $40 million on the Consolidated Statement of Cash Flows for the year ended December 31, 2017 . In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits (Topic 715): “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU changes how employers that sponsor defined benefit pension and/or other postretirement benefit plans present the cost of the benefits in the Condensed Consolidated Statements of Operations . This cost, commonly referred to as the “net periodic benefit cost,” is comprised of several components that reflect different aspects of the arrangement with the employee, including the effect of the related funding. Previously, the Company aggregated the various components of the net periodic benefit cost (including interest cost and the expected return on plan assets) for presentation purposes and included these costs within Operating income in the Condensed Consolidated Statements of Operations . Under the new guidance, these costs are presented below Operating income . The Company adopted the standard on January 1, 2018 and recast prior periods to reflect the new presentation. The adoption of the standard had no impact on Net income . The amount of net periodic benefit income included in Other expense (income) was $18.2 million and $9.9 million for the three months ended June 30, 2018 and 2017 , respectively, and $36.7 million and $19.7 million for the six months ended June 30, 2018 and 2017 , respectively. In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): “Scope of Modification Accounting.” This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new standard, modification accounting applies unless all of the following conditions are met: (i) the fair value of the modified award is the same as the fair value of the original award immediately before the modification, (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the modification, and (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. Generally speaking, modification accounting requires an entity to calculate and recognize the incremental fair value of the modified award as compensation cost on the date of modification (for a vested award) or over the remaining service period (for an unvested award). The impact of this guidance, which was applied prospectively on January 1, 2018, is dependent on future modifications, if any, to the Company’s share-based payment awards. In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740): “Amendments to Securities and Exchange Commission (“SEC”) Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118.” The ASU amends ASC 740 to provide further guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) and allows for the recognition of provisional amounts in the event that a company does not have the necessary information available, prepared, or analyzed to finalize its accounting under ASC 740. ASU 2018-05 allows for adjustments to provisional amounts in multiple reporting periods during the allowable one-year measurement period from the Tax Act enactment date. This standard is effective upon issuance. As of December 31, 2017 , the Company accounted for the mandatory deemed repatriation of accumulated foreign earnings and potential Global Intangible Low-Taxed Income (“GILTI”) and Foreign Derived Intangible Income on a provisional basis. There have been no changes to the conclusions reached as of December 31, 2017 . As of June 30, 2018 , the Company has not made a policy decision regarding whether to record deferred taxes on GILTI as these estimates may be impacted by further analysis, future clarification and guidance regarding available tax accounting methods and elections, earnings and profits computations, and state tax conformity to the Tax Act. Accounting Pronouncements Issued But Not Yet Effective In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases, including operating leases. Under the new requirements, a lessee will recognize in the balance sheet a liability to make lease payments (the lease liability) and the right-of-use asset representing the right to the underlying asset for the lease term. For leases with a term of 12 months or less, the lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, which clarified certain aspects of ASU 2016-02 based on inquiries made by various stakeholders. Also, in July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): “Targeted Improvements,” which provides an optional transition method to allow entities, on adoption of ASU 2016-02, to report prior periods under previous lease accounting guidance. The standards are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the effects these ASUs will have on its Condensed Consolidated Financial Statements and related disclosures. As of December 31, 2017 , the Company reported $1,978.5 million in operating lease obligations and will evaluate those contracts, as well as other existing arrangements, to determine if they qualify for lease accounting under the new standards. The Company does not plan to adopt the standards early.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company is organized into two reportable segments: Transportation and Logistics. In the Transportation segment, the Company provides multiple services to facilitate the movement of raw materials, parts and finished goods. The Company accomplishes this by using its proprietary transportation technology, third-party carriers and Company-owned trucks and service centers. XPO’s transportation services include: freight brokerage, last mile, l ess-than-truckload (“LTL”) , truckload, global forwarding and managed transportation. Freight brokerage, last mile, global forwarding and managed transportation are all non-asset or asset-light businesses. LTL and truckload are primarily asset-based. In the Logistics segment, referred to as supply chain, the Company provides a range of contract logistics services, including value-added warehousing and distribution, cold chain solutions, e-fulfillment, reverse logistics, packaging, factory support, aftermarket support and inventory management services for customers. In addition, the Company provides highly engineered, customized solutions and supply chain optimization services, such as production flow management. Certain of the Company’s operating units provide services to other Company operating units outside of their reportable segment. Billings for such services are based on negotiated rates, which the Company believes approximate fair value, and are reflected as revenues of the billing segment. These rates are adjusted from time to time based on market conditions. Such intersegment revenues and expenses are eliminated in the Company’s consolidated results. Corporate includes corporate headquarters costs for executive officers and certain legal and financial functions, as well as certain other costs and credits not attributed to the Company’s core business. These costs are not allocated to the business segments. The Company’s chief operating decision maker (“CODM”) regularly reviews financial information at the reporting segment level in order to make decisions about resources to be allocated to the segments and to assess their performance. Segment results that are reported to the CODM include items directly attributable to a segment, as well as those that can be allocated on a reasonable basis. Asset information by segment is not provided to the Company’s CODM, as the majority of the Company’s assets are managed at the corporate level. The Company evaluates performance based on the various financial measures of the respective business segments. The following table identifies selected financial data for the three and six months ended June 30, 2018 and 2017 : (In millions) Transportation Logistics Corporate Eliminations Total Three Months Ended June 30, 2018 (1) Revenue $ 2,887.7 $ 1,507.8 $ — $ (32.0 ) $ 4,363.5 Operating income (loss) 205.4 67.3 (44.7 ) — 228.0 Depreciation and amortization 116.0 57.8 2.6 — 176.4 Three Months Ended June 30, 2017 (1) Revenue $ 2,522.7 $ 1,265.7 $ — $ (28.1 ) $ 3,760.3 Operating income (loss) 165.0 49.4 (39.3 ) — 175.1 Depreciation and amortization 113.3 49.6 1.5 — 164.4 Six Months Ended June 30, 2018 (1) Revenue $ 5,661.8 $ 2,955.9 $ — $ (62.7 ) $ 8,555.0 Operating income (loss) 344.4 114.8 (90.2 ) — 369.0 Depreciation and amortization 229.9 113.1 4.3 — 347.3 Six Months Ended June 30, 2017 (1) Revenue $ 4,914.5 $ 2,441.2 $ — $ (55.9 ) $ 7,299.8 Operating income (loss) 270.3 82.3 (73.7 ) — 278.9 Depreciation and amortization 221.5 96.3 4.0 — 321.8 (1) Certain immaterial organizational changes were made in the first quarter of 2018 related to the Company’s managed transportation business. Previously, it had been included in the Logistics segment and in 2018 it has been reflected in the Transportation segment. Prior period information was recast to conform to the current year presentation.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Adoption of Topic 606, “Revenue from Contracts with Customers” On January 1, 2018, the Company adopted Topic 606 using the modified retrospective method applied to those contracts that were not completed as of the adoption date. The Company recorded an immaterial adjustment to opening Retained earnings as of January 1, 2018 for the cumulative impact of adoption related to the recognition of in-transit revenue in its transportation business. Results for 2018 are presented under Topic 606, while prior periods were not adjusted and are reported under Topic 605 “Revenue Recognition”. The adoption of Topic 606 did not have a material impact on the Condensed Consolidated Financial Statements as of the adoption date or for the six months ended June 30, 2018 . Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following is a description of the Company’s performance obligations for the transportation and logistics reportable segments. Reportable Segment Nature, Timing of Satisfaction of Performance Obligations, and Significant Payment Terms Transportation The Company’s transportation segment generates revenue from providing truck brokerage and transportation services for its customers. Certain accessorial services may be provided to customers under their transportation contracts, such as unloading and other incidental services. The Company deems the transportation services including related accessorial services as a single performance obligation as the accessorial services are immaterial in the context of the contracts with customers. The transaction price is based on the consideration specified in the contract with the customer. A performance obligation is created when a customer under a transportation contract submits a bill of lading for the transport of goods from origin to destination. These performance obligations are satisfied as the shipments move from origin to destination. Transportation revenue is recognized proportionally as a shipment moves from origin to destination and related costs are recognized as incurred. Some of the customer contracts contain a promise to stand ready as the Company is obligated to provide transportation services for the customer. For these contracts, the Company recognizes revenue on a straight-line basis over the term of the contract because the pattern of benefit to the customer as well as the Company’s efforts to fulfill the contract are generally distributed evenly throughout the period. Performance obligations are short-term with transit days less than one week. Generally, customers are billed either upon shipment of the freight or monthly and remit payment according to approved payment terms. The Company recognizes revenue on a net basis when the Company does not control the specific services, is not responsible for providing the transportation service and does not have discretion in establishing the price for the service. Logistics The Company’s logistics segment generates revenue from providing warehousing services for its customers, including e-fulfillment, reverse logistics, packaging and warehousing and distributing under contracts ranging from a few months to a few years. The Company’s performance obligations are satisfied over time as the customers simultaneously receive and consume the benefits of the Company’s services. The contracts contain a single performance obligation as the distinct services provided are satisfied over time and are substantially the same and possess the same pattern of transfer. The transaction price is based on the consideration specified in the contract with the customer and contains fixed and variable consideration. In general, the fixed consideration component of a contract represents reimbursement for facility and equipment costs incurred to satisfy the performance obligation and is recognized on a straight-line basis over the term of the contract. The variable consideration component is comprised of cost reimbursement, per unit pricing or time and materials pricing and is determined based on the costs, units or hours of services provided, respectively, and is recognized over time based on the level of activity volume. Generally, the Company’s contracts contain provisions for adjustments to pricing based on achieving agreed-upon performance metrics, changes in volumes, services and other market conditions. Revenue relating to such pricing adjustments is estimated and included in the consideration if it is probable that a significant revenue reversal will not occur in the future. The estimate of variable consideration is determined either by the expected value or most likely amount method and factors in current, past and forecasted experience with the customer. Customers are billed based on the terms specified in the contract with the customer and remit payment according to approved payment terms. Disaggregation of Revenues The Company disaggregates its revenue by geographic area and service offering. The following table presents the Company’s revenue disaggregated by geographical area based on sales office location: Three Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 2,046.2 $ 533.0 $ (5.2 ) $ 2,574.0 North America (excluding United States) 66.8 15.6 — 82.4 France 385.7 176.9 (4.2 ) 558.4 United Kingdom 180.1 356.5 (17.5 ) 519.1 Europe (excluding France and United Kingdom) 203.4 399.9 (4.2 ) 599.1 Other 5.5 25.9 (0.9 ) 30.5 Total $ 2,887.7 $ 1,507.8 $ (32.0 ) $ 4,363.5 Six Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 4,000.1 $ 1,035.2 $ (10.1 ) $ 5,025.2 North America (excluding United States) 129.1 29.0 — 158.1 France 774.4 355.6 (8.7 ) 1,121.3 United Kingdom 350.2 695.8 (33.5 ) 1,012.5 Europe (excluding France and United Kingdom) 399.0 789.6 (8.6 ) 1,180.0 Other 9.0 50.7 (1.8 ) 57.9 Total $ 5,661.8 $ 2,955.9 $ (62.7 ) $ 8,555.0 The following table presents the Company’s revenue disaggregated by service offering: (In millions) Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Transportation: Freight brokerage and truckload $ 1,210.4 $ 2,389.9 LTL 1,246.8 2,419.5 Last mile (1) 268.5 506.9 Managed transportation 114.3 251.2 Global forwarding 85.6 167.3 Transportation eliminations (37.9 ) (73.0 ) Total Transportation segment revenue 2,887.7 5,661.8 Total Logistics segment revenue 1,507.8 2,955.9 Intersegment eliminations (32.0 ) (62.7 ) Total revenue $ 4,363.5 $ 8,555.0 (1) Comprised of the Company’s North American last mile operations. Contract Balances and Costs The Company does not have material contract assets, liabilities or costs associated with arrangements with its customers at June 30, 2018 or December 31, 2017 . The Company did not recognize a material amount of revenue during the six months ended June 30, 2018 that was deferred at December 31, 2017 . The Company applies the practical expedient in Topic 606 that permits the recognition of incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in Direct operating expense . Transaction Price Allocated to Remaining Performance Obligation On June 30, 2018 , the fixed consideration component of the Company’s remaining performance obligation was approximately $1 billion , of which the Company expects to recognize approximately 80% over the next three years and the remainder thereafter. Most of the remaining performance obligation relates to the Logistics reportable segment. The Company applies the disclosure exemption in Topic 606 that permits the omission of remaining performance obligations that either (i) have original expected durations of one year or less or (ii) contain variable consideration. The Company’s remaining performance obligations related to variable consideration will be satisfied over the remaining tenure of contracts based on the volume of services provided. Remaining performance obligation are estimates made at a point in time and actual amounts may differ from these estimates due to changes in foreign currency exchange rates and contract revisions and terminations.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments In the normal course of business, the Company is exposed to certain risks arising from business operations and economic factors, including fluctuations in interest rates and foreign currencies. To manage the volatility related to these exposures, the Company uses derivative instruments. The objective of these derivative instruments is to reduce fluctuations in the Company’s earnings and cash flows associated with changes in foreign currency exchange rates and interest rates. These financial instruments are not used for trading or other speculative purposes. The Company has not historically incurred, and does not expect to incur in the future, any losses as a result of counterparty default. The Company formally documents all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes linking cash flow hedges to specific forecasted transactions or variability of cash flow to be paid. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the designated derivative instruments that are used in hedging transactions are highly effective in offsetting changes in the cash flows of the hedged items. When a derivative instrument is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, hedge accounting is discontinued prospectively. The following table presents the account on the Condensed Consolidated Balance Sheets in which the Company’s derivative instruments have been recognized, the fair value hierarchy level applicable to each type of derivative instrument, and the related notional amounts and fair values: June 30, 2018 Derivative Assets Derivative Liabilities (In millions) Notional Amount Balance Sheet Caption Fair Value Balance Sheet Caption Fair Value Derivatives designated as hedges: Cross-currency swap agreements $ 1,287.0 Other long-term assets $ — Other long-term liabilities $ (120.0 ) Interest rate swap 1,200.0 Other current assets — Other current liabilities — Derivatives not designated as hedges: Foreign currency option and forward contracts 445.0 Other current assets 0.8 Other current liabilities (1.4 ) Total $ 0.8 $ (121.4 ) December 31, 2017 Derivative Assets Derivative Liabilities (In millions) Notional Amount Balance Sheet Caption Fair Value Balance Sheet Caption Fair Value Derivatives designated as hedges: Cross-currency swap agreements $ 1,303.7 Other long-term assets $ — Other long-term liabilities $ (146.4 ) Derivatives not designated as hedges: Foreign currency option and forward contracts 1,038.0 Other current assets 2.2 Other current liabilities (15.5 ) Total $ 2.2 $ (161.9 ) The derivatives are classified as Level 2 within the fair value hierarchy. The derivatives are valued using inputs other than quoted prices, such as foreign exchange rates and yield curves. The effect of derivative instruments designated as hedges and nonderivatives designated as hedges in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018 and June 30, 2017 , are as follows: Amount Excluded from Effectiveness Testing Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative Amount of Gain Reclassified from AOCI into Net Income Amount of Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended June 30, (In millions) 2018 2018 2017 2018 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 2.7 $ 16.6 $ — $ 14.8 $ 0.1 Interest rate swaps — (0.3 ) 0.6 — — Derivatives designated as net investment hedges: Cross-currency swap agreements 37.2 66.8 (58.2 ) — 2.3 Nonderivatives designated as hedges: Foreign currency denominated notes — — 5.0 — — Total $ 83.1 $ (52.6 ) $ 14.8 $ 2.4 Amount Excluded from Effectiveness Testing Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative Amount of Gain Reclassified from AOCI into Net Income Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Six Months Ended June 30, (In millions) 2018 2018 2017 2018 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 2.7 $ 6.0 $ — $ 13.0 $ 0.3 Interest rate swaps — (0.3 ) 1.1 — — Derivatives designated as net investment hedges: Cross-currency swap agreements 37.2 19.6 (62.3 ) — (0.7 ) Nonderivatives designated as hedges: Foreign currency denominated notes — — 5.6 — — Total $ 25.3 $ (55.6 ) $ 13.0 $ (0.4 ) There were no gains (losses) reclassified out of Accumulated other comprehensive (loss) income (“ AOCI ”) into Net income for the three and six months ended June 30, 2017 . The pre-tax gain (loss) recognized in earnings for foreign currency option and forward contracts not designated as hedging instruments was $16.4 million and $(28.3) million for the three months ended June 30, 2018 and 2017 , respectively, and $4.2 million and $(38.5) million for the six months ended June 30, 2018 and 2017 , respectively. These amounts are recorded in Foreign currency (gain) loss in the Condensed Consolidated Statements of Operations . Cross-Currency Swap Agreements In May 2017, the Company entered into certain cross-currency swap agreements to manage the foreign currency exchange risk related to the Company’s international operations by effectively converting the fixed-rate U.S. Dollar (“USD”)-denominated 6.125% senior notes due 2023 (“ Senior Notes due 2023”) (see Note 5 —Debt ), including the associated semi-annual interest payments, to fixed-rate, Euro (“EUR”)-denominated debt. The risk management objective of these transactions is to manage foreign currency risk relating to net investments in subsidiaries denominated in foreign currencies and reduce the variability in the functional currency equivalent cash flows of the Senior Notes due 2023. During the term of the swap contracts, the Company will receive quarterly interest payments in March, June, September and December of each year from the counterparties based on USD fixed interest rates, and the Company will make quarterly interest payments in March, June, September and December of each year to the counterparties based on EUR fixed interest rates. At maturity, the Company will repay the original principal amount in EUR and receive the principal amount in USD. In 2015, in connection with the issuance of 6.50% senior notes due 2022 (“ Senior Notes due 2022”), the Company entered into certain cross-currency swap agreements to manage the foreign currency exchange risk related to the Company’s international operations by effectively converting a portion of the fixed-rate USD-denominated Senior Notes due 2022, including the associated semi-annual interest payments, to fixed rate, EUR-denominated debt. The risk management objective of the agreements is to manage the Company’s foreign currency risk relating to net investments in subsidiaries denominated in foreign currencies and reduce the variability in the functional currency equivalent cash flows of a portion of the Senior Notes due 2022. During the term of the swap contracts, the Company will receive semi-annual interest payments in June and December of each year from the counterparties based on USD fixed interest rates, and the Company will make semi-annual interest payments in June and December of each year to the counterparties based on EUR fixed interest rates. At maturity, the Company will repay the original principal amount in EUR and receive the principal amount in USD. The Company has designated the cross-currency swap agreements as qualifying hedging instruments and is accounting for these as net investment hedges. In the fourth quarter of 2017, and in accordance with the guidance in ASU 2017-12, the Company applied the simplified method of assessing the effectiveness of its net investment hedging relationships. Under this method, for each reporting period, the change in the fair value of the cross-currency swaps is initially recognized in AOCI . The change in the fair value due to foreign exchange remains in AOCI and the initial component excluded from effectiveness testing will initially remain in AOCI and then will be reclassified from AOCI to Interest expense each period in a systematic manner. Additionally, in the fourth quarter of 2017, a portion of the cross-currency swap that hedges the Senior Notes due 2023 was de-designated as a net investment hedge and re-designated with a larger notional amount as a cash flow hedge. This cash flow hedge was entered into to manage the related foreign currency exposure from intercompany loans. The amounts in AOCI related to the net investment hedge at the date of de-designation were recognized as cumulative translation adjustments and will remain in AOCI until the subsidiary is sold or substantially liquidated. For the cash flow hedge, the Company reclassifies a portion of AOCI to Foreign currency (gain) loss to offset the foreign exchange impact in earnings created by the intercompany loans. The Company also amortizes a portion of AOCI to Interest expense related to the initial portion of a loss excluded from the assessment of effectiveness of the cash flow hedge. Hedge of Net Investments in Foreign Operations In addition to the cross-currency swaps, the Company periodically uses foreign currency denominated notes as nonderivative hedging instruments of its net investments in foreign operations. Prior to their redemption in 2017, the Company had designated the 5.75% senior notes due 2021 (“Senior Notes due 2021”) as a net investment hedge and the gains and losses resulting from the exchange rate adjustments to the designated portion of the foreign currency denominated notes were recorded in AOCI to the extent that the foreign currency denominated notes are effective in hedging the designated risk. As of June 30, 2018 and December 31, 2017 , there is no amount of Long-term debt on the Condensed Consolidated Balance Sheets that is designated as a net investment hedge of its investments in international subsidiaries that use the EUR as their functional currency. The amount recognized in AOCI during the period that the Senior Notes due 2021 were designated as a net investment hedge remains in AOCI as of June 30, 2018 and will remain in AOCI until the subsidiary is sold or substantially liquidated. In 2018 , the gains and losses resulting from exchange rate adjustments to the foreign currency denominated notes were recorded in the Condensed Consolidated Statements of Operations in Foreign currency (gain) loss . The Company does not expect amounts that are currently deferred in AOCI to be reclassified to income over the next 12 months. Interest Rate Hedging In 2018, the Company utilized a short-term interest rate swap to mitigate variability in forecasted interest payments on the Company’s Term loan facility. The interest rate swap converts a floating rate interest payment into a fixed rate interest payment. The Company designated the interest rate swap as a qualifying hedging instrument and is accounting for this derivative as a cash flow hedge. In 2017, the Company utilized interest rate swaps to mitigate variability in forecasted interest payments on the Company’s EUR-denominated asset financings that are based on benchmark interest rates (e.g., Euribor). The objective was for the cash flows of the interest rate swaps to offset any changes in cash flows of the forecasted interest payments attributable to changes in the benchmark interest rate. The interest rate swaps converted floating rate interest payments into fixed rate interest payments. The Company designated the interest rate swaps as qualifying hedging instruments and accounted for these as cash flow hedges of the forecasted obligations. The Company hedged its exposure to the variability in future cash flows for forecasted interest payments through the maturity date of the swap in December 2017. Gains and losses resulting from fair value adjustments to the designated portion of interest rate swaps are recorded in AOCI and reclassified to Interest expense on the dates that interest payments accrued. Cash flows related to the interest rate swaps are included in Operating activities on the Condensed Consolidated Statements of Cash Flows . Foreign Currency Option and Forward Contracts In order to mitigate the currency translation risk that results from converting the financial statements of the Company’s international operations, which primarily use the EUR and British Pound Sterling as their functional currency, the Company uses foreign currency option and forward contracts. Additionally, the Company may use foreign currency forward contracts to mitigate the foreign currency exposure from intercompany loans. The foreign currency contracts were not designated as qualifying hedging instruments as of June 30, 2018 . The contracts are not speculative; rather, they are used to manage the Company’s exposure to foreign currency exchange rate fluctuations. The contracts expire in 12 months or less. Gains or losses on the contracts are recorded in Foreign currency (gain) loss in the Condensed Consolidated Statements of Operations . Cash flows related to the foreign currency contracts are included in Operating activities on the Condensed Consolidated Statements of Cash Flows , except for the cash flows resulting from forwards designated as hedges of intercompany loans which are included in Investing activities .

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company’s debt is comprised of the following: June 30, 2018 December 31, 2017 (In millions) Principal Balance Carrying Value Principal Balance Carrying Value ABL facility $ — $ — $ 100.0 $ 100.0 Term loan facility 1,503.0 1,471.5 1,494.0 1,455.6 6.125% Senior notes due 2023 535.0 528.5 535.0 528.0 6.50% Senior notes due 2022 1,600.0 1,584.7 1,600.0 1,583.0 6.70% Senior debentures due 2034 300.0 203.9 300.0 202.8 4.00% Euro private placement notes due 2020 14.0 14.7 14.4 15.3 Trade Securitization Program 364.0 360.7 302.6 298.6 Asset financing 53.3 53.3 90.0 90.0 Capital leases for equipment 273.7 273.7 247.9 247.9 Total debt 4,643.0 4,491.0 4,683.9 4,521.2 Current maturities of long-term debt 84.9 84.9 103.7 103.7 Long-term debt $ 4,558.1 $ 4,406.1 $ 4,580.2 $ 4,417.5 The fair value of the Company’s debt at June 30, 2018 was $4,693.1 million , of which $2,546.6 million was classified as Level 1 and $2,146.5 million was classified as Level 2 in the fair value hierarchy. The fair value of the debt at December 31, 2017 was $4,816.1 million , of which $2,647.4 million was classified as Level 1 and $2,168.7 million was classified as Level 2. The Level 1 debt was valued using quoted prices in active markets. The Level 2 debt was valued using bid evaluation pricing models or quoted prices of securities with similar characteristics. The fair value of the asset financing arrangements approximates carrying value since the debt is primarily issued at a floating rate, may be prepaid any time at par without penalty, and the remaining life is short-term in nature. ABL Facility In October 2015, the Company entered into the Second Amended and Restated Revolving Loan Credit Agreement (the “ABL Facility”) which was amended in March 2018 to allow letters of credit to be issued in currencies other than USD and Canadian dollars. At June 30, 2018 , the Company had a borrowing base of $978.6 million and availability under the ABL Facility of $740.0 million after considering outstanding letters of credit on the ABL Facility of $238.6 million . As of June 30, 2018 , the Company was in compliance with the ABL Facility’s financial covenants. Refinancing of Existing Term Loans In February 2018, the Company entered into a Refinancing Amendment (Amendment No. 3 to Credit Agreement) (the “ Third Amendment ”), by and among XPO, its subsidiaries signatory thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., in its capacity as administrative agent, amending that certain Senior Secured Term Loan Credit Agreement, dated as of October 30, 2015 (as amended, amended and restated, supplemented or otherwise modified, including by that certain Incremental and Refinancing Amendment (Amendment No. 1 to Credit Agreement), dated as of August 25, 2016, and by that certain Refinancing Amendment (Amendment No. 2 to Credit Agreement), dated March 10, 2017, the “ Term Loan Credit Agreement ”). Pursuant to the Third Amendment , the outstanding $1,494.0 million principal amount of term loans under the Term Loan Credit Agreement (the “ Existing Term Loans ”) were replaced with $1,503.0 million in aggregate principal amount of new term loans (the “ New Term Loans ”) having substantially similar terms as the Existing Term Loans , except with respect to the interest rate and maturity date applicable to the New Term Loans , prepayment premiums in connection with certain voluntary prepayments and certain other amendments to the restrictive covenants. Proceeds from the New Term Loans were used to refinance the Existing Term Loans and to pay interest, fees and expenses in connection therewith. The interest rate margin applicable to the New Term Loans was reduced from 1.25% to 1.00% , in the case of base rate loans, and from 2.25% to 2.00% , in the case of London Interbank Offered Rate (“LIBOR”) loans (with the LIBOR floor remaining at 0.0% ). The interest rate on the New Term Loans was 4.09% at June 30, 2018 . The New Term Loans will mature on February 23, 2025 . The refinancing resulted in a debt extinguishment charge of $10.3 million during the first quarter of 2018. In the first quarter of 2017, the Company recorded a debt extinguishment charge of $9.0 million in connection with the refinancing of the Term Loan facility (Amendment No. 2 to Credit Agreement). Trade Securitization Program In October 2017, XPO Logistics Europe SA (“ XPO Logistics Europe ”) , in which the Company holds an 86.25% controlling interest, entered into a trade receivables securitization program for a term of three years co-arranged by Crédit Agricole and HSBC. In the first quarter of 2018, the aggregate maximum amount available under the program was increased to €350 million (approximately $408.0 million as of June 30, 2018 ). At June 30, 2018 , the remaining borrowing capacity was €37.7 million (approximately $44.0 million ) and the weighted-average interest rate was 1.02% .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rates were 25.4% and 32.7% for the second quarter of 2018 and 2017 , respectively, and 18.5% and 18.0% for the first six months of 2018 and 2017 , respectively. The effective tax rates for both the second quarter and six -month periods of 2018 and 2017 were based on forecasted full year effective tax rates, adjusted for discrete items that occurred within the period presented. The effective tax rate for both the second quarter and six -month periods of 2018 reflects the enactment of the Tax Act, which permanently reduced the U.S. corporate statutory rate from 35% to 21% effective January 1, 2018. The effective tax rate for the second quarter of 2018 was impacted primarily by discrete tax benefits of $3.9 million associated with share-based payment arrangements. The effective tax rate for the second quarter of 2017 was impacted primarily by discrete tax benefits of $3.7 million associated with share-based payment arrangements and deferred tax asset revaluations. The effective tax rate for the first six months of 2018 was impacted primarily by discrete tax benefits of $23.0 million associated with share-based payment arrangements and $4.3 million associated with the deduction of foreign taxes paid in prior years. The effective tax rate for the first six months of 2017 was impacted primarily by $11.4 million associated with share-based payment arrangements, the release of a valuation allowance of $3.3 million related to state tax matters and $2.6 million of reserves related to uncertain tax positions.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests The Company holds a controlling financial interest in entities where it currently holds, directly or indirectly, more than 50% of the voting rights or where it exercises control through substantive participating rights or as a general partner. Net income attributable to noncontrolling interests is deducted from Net income to determine Net income attributable to XPO . The noncontrolling interests reflected in our Condensed Consolidated Financial Statements primarily relate to the 13.75% outstanding minority interest in XPO Logistics Europe . We acquired an 86.25% controlling interest in XPO Logistics Europe in 2015. Activity for the equity attributable to noncontrolling interests for the six months ended June 30, 2018 and 2017 is as follows: (In millions) Total Stockholders' Equity Noncontrolling Interests Total Equity Balance at December 31, 2017 $ 3,604.4 $ 405.6 $ 4,010.0 Net income 221.6 16.6 238.2 Other comprehensive loss (64.5 ) (13.2 ) (77.7 ) Other (29.5 ) (1.3 ) (30.8 ) Balance at June 30, 2018 $ 3,732.0 $ 407.7 $ 4,139.7 (In millions) Total Stockholders' Equity Noncontrolling Interests Total Equity Balance at December 31, 2016 $ 2,700.0 $ 337.6 $ 3,037.6 Net income 73.2 8.9 82.1 Other comprehensive income 99.1 26.0 125.1 Other 7.9 (2.9 ) 5.0 Balance at June 30, 2017 $ 2,880.2 $ 369.6 $ 3,249.8

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The participating securities consist of the Company’s Series A Convertible Perpetual Preferred Stock. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. In periods of loss, no allocation is made to the preferred shares. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2018 2017 2018 2017 Basic earnings per common share Net income attributable to XPO $ 149.0 $ 51.9 $ 221.6 $ 73.2 Cumulative preferred dividends (0.7 ) (0.7 ) (1.4 ) (1.4 ) Non-cash allocation of undistributed earnings (10.8 ) (3.6 ) (15.8 ) (4.7 ) Net income attributable to common shares, basic $ 137.5 $ 47.6 $ 204.4 $ 67.1 Basic weighted-average common shares 120.7 111.8 120.4 111.6 Basic earnings per share $ 1.14 $ 0.43 $ 1.70 $ 0.60 Diluted earnings per common share Net income attributable to common shares, basic $ 137.5 $ 47.6 $ 204.4 $ 67.1 Interest from Convertible Senior Notes — 0.3 — 0.7 Net income attributable to common shares, diluted $ 137.5 $ 47.9 $ 204.4 $ 67.8 Basic weighted-average common shares 120.7 111.8 120.4 111.6 Dilutive effect of Convertible Senior Notes — 2.9 — 3.0 Dilutive effect of non-participating stock-based awards and equity forward 13.4 10.0 13.3 10.0 Diluted weighted-average common shares 134.1 124.7 133.7 124.6 Diluted earnings per share $ 1.03 $ 0.38 $ 1.53 $ 0.54 Potential common shares excluded 10.2 10.2 10.2 10.2 Certain shares were not included in the computation of diluted earnings per share because the effect was anti-dilutive.

Legal and Regulatory Matters

Legal and Regulatory Matters	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Legal and Regulatory Matters	Legal and Regulatory Matters The Company is involved, and will continue to be involved, in numerous proceedings arising out of the conduct of its business. These proceedings may include, among other matters, claims for property damage or personal injury incurred in connection with the transportation of freight, claims regarding anti-competitive practices, and employment-related claims, including claims involving asserted breaches of employee restrictive covenants and tortious interference with contracts. These matters also include numerous purported class action, multi-plaintiff and individual lawsuits, and administrative proceedings that claim either that the Company’s owner operators or contract carriers should be treated as employees, rather than independent contractors, or that certain of the Company’s drivers were not paid for all compensable time or were not provided with required meal or rest breaks. These lawsuits and proceedings may seek substantial monetary damages (including claims for unpaid wages, overtime, failure to provide meal and rest periods, unreimbursed business expenses and other items), injunctive relief, or both. The Company establishes accruals for specific legal proceedings when it is considered probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Accruals for loss contingencies are reviewed quarterly and adjusted as additional information becomes available. If a loss is not both probable and reasonably estimable, or if an exposure to loss exists in excess of the amount accrued therefor, the Company assesses whether there is at least a reasonable possibility that a loss, or additional loss, may have been incurred. If there is a reasonable possibility that a loss, or additional loss, may have been incurred, the Company discloses the estimate of the possible loss or range of loss if it is material and an estimate can be made, or states that such an estimate cannot be made. The evaluation as to whether a loss is reasonably possible or probable is based on the Company’s assessment, in conjunction with legal counsel, regarding the ultimate outcome of the matter. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable. The Company does not believe that the ultimate resolution of any matters to which the Company is presently a party will have a material adverse effect on its results of operations, financial condition or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Legal costs incurred related to these matters are expensed as incurred. The Company carries liability and excess umbrella insurance policies that it deems sufficient to cover potential legal claims arising in the normal course of conducting its operations as a transportation and logistics company. The liability and excess umbrella insurance policies generally do not cover the misclassification claims described in this Note. In the event the Company is required to satisfy a legal claim outside the scope of the coverage provided by insurance, the Company’s financial condition, results of operations or cash flows could be negatively impacted. Intermodal Drayage Classification Claims Certain of the Company’s intermodal drayage subsidiaries received notices from the California Labor Commissioner, Division of Labor Standards Enforcement (the “DLSE”), that a total of approximately 150 owner operators contracted with these subsidiaries filed claims in 2012 with the DLSE in which they assert that they should be classified as employees, rather than independent contractors. These claims seek reimbursement for the owner operators’ business expenses, including fuel, tractor maintenance and tractor lease payments. After a decision was rendered by a DLSE hearing officer in seven of these claims, in 2014, the Company appealed the decision to the California Superior Court, San Diego, where a de novo trial was held on the merits of those claims. On July 17, 2015, the court issued a final statement of decision finding that the seven claimants were employees rather than independent contractors, and awarding an aggregate of $2.9 million plus post-judgment interest and attorneys’ fees to the claimants. The Company exhausted its appeals in this matter and the Superior Court entered final judgment against the Company in January 2018 and that judgment has been paid. Separate decisions were rendered in June 2015 by a DLSE hearing officer in claims involving five additional plaintiffs, resulting in an award for the plaintiffs in an aggregate amount of approximately $0.9 million , following which the Company appealed the decisions in the U.S. District Court for the Central District of California. On May 16, 2017, the Court issued judgment finding that the five claimants were employees rather than independent contractors, and awarding an aggregate of approximately $1.0 million plus post-judgment interest and attorneys’ fees to the claimants. The Company has appealed this judgment, but cannot provide assurance that such appeal will be successful. In addition, separate decisions were rendered in April 2017 by a DLSE hearing officer in claims involving four additional plaintiffs, resulting in an award for the plaintiffs in an aggregate amount of approximately $0.9 million , which the Company has appealed to the California Superior Court, Long Beach. The remaining DLSE claims (the “Pending DLSE Claims”) have been transferred to California Superior Court in three separate actions involving approximately 170 claimants, including the claimants mentioned above who originally filed claims in 2012. In addition, certain of the Company’s intermodal drayage subsidiaries are party to putative class action litigations in California brought by independent contract carriers who contracted with these subsidiaries in which the contract carriers assert that they should be classified as employees, rather than independent contractors. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable relating to the claims referenced above. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of these claims given, among other reasons, that the range of potential loss could be impacted substantially by future rulings by the courts involved, including on the merits of the claims. Last Mile Logistics Classification Claims Certain of the Company’s last mile logistics subsidiaries are party to several putative class action litigations brought by independent contract carriers who contracted with these subsidiaries in which the contract carriers assert that they should be classified as employees, rather than independent contractors. The particular claims asserted vary from case to case, but the claims generally allege unpaid wages, unpaid overtime, or failure to provide meal and rest periods, and seek reimbursement of the contract carriers’ business expenses. The cases include four related matters pending in the Federal District Court, Northern District of California: Ron Carter, Juan Estrada, Jerry Green, Burl Malmgren, Bill McDonald and Joel Morales v. XPO Logistics, Inc. , filed in March 2016; Ramon Garcia v. Macy’s and XPO Logistics Inc. , filed in July 2016; Kevin Kramer v. XPO Logistics Inc. , filed in September 2016; and Hector Ibanez v. XPO Last Mile, Inc. , filed in May 2017. The Company believes that it has adequately accrued for the potential impact of loss contingencies relating to the foregoing claims that are probable and reasonably estimable. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of these claims given, among other reasons, that the number and identities of plaintiffs in these lawsuits are uncertain and the range of potential loss could be impacted substantially by future rulings by the courts involved, including on the merits of the claims. Last Mile TCPA Claims The Company is a party to a putative class action litigation ( Leung v. XPO Logistics, Inc. , filed in May 2015 in the U.S. District Court, Illinois) alleging violations of the Telephone Consumer Protection Act (“TCPA”) related to an automated customer call system used by a last mile logistics business that the Company acquired. The Company has reached an agreement to resolve the Leung case, and the Court has approved the settlement and entered final judgment. The Company has accrued the full amount of the approved settlement.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In connection with a common stock offering in July 2017, the Company entered into separate forward sale agreements (the “Forward Sale Agreements”) with each of Morgan Stanley & Co. LLC and JPMorgan Chase Bank, National Association, London Branch (the “Forward Counterparties”) pursuant to which the Company agreed to sell, and each Forward Counterparty agreed to purchase, three million shares of the Company’s common stock (or six million shares of the Company’s common stock in the aggregate) subject to the terms and conditions of the Forward Sale Agreements, including the Company’s right to elect cash settlement or net share settlement. The initial forward price under each of the Forward Sale Agreements was $58.08 per share (which was the public offering price of the Company’s common stock for a primary offering of five million shares completed at that time, less the underwriting discount) and was subject to certain adjustments pursuant to the terms of the Forward Sale Agreements. In July 2018, the Company physically settled the forwards in full by delivering six million shares of common stock to the Forward Counterparties for net cash proceeds to the Company of approximately $351 million . Consistent with the Company’s strategy to grow its business in part through acquisitions, the Company entered into the Forward Sale Agreements to provide additional available cash for such acquisitions, among other general corporate purposes. As a part of its ordinary course treasury management activities, the Company has applied these net cash proceeds to the repayment of debt as described further below thereby reducing the Company’s overall outstanding debt and interest expense. In July 2018, the Company redeemed $400 million of the $1.6 billion outstanding Senior Notes due 2022 that were originally issued in 2015. The redemption price for the Senior Notes due 2022 was 103.250% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the date of redemption. The redemption was primarily funded using proceeds from the settlement of the forwards described above. The loss on debt extinguishment of approximately $17 million will be reflected in the third quarter of 2018 results of operations.

Organization, Description of 18

Organization, Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents and Restricted Cash At June 30, 2018 and December 31, 2017 , the total amount of restricted cash included in Other long-term assets on the Condensed Consolidated Balance Sheets was approximately $13.2 million and $52.1 million , respectively. Restricted cash primarily consisted of tax-deferred proceeds from a property sale in 2017 that was released in the second quarter of 2018. In accordance with the adoption of Accounting Standards Update (“ASU”) 2016-18, as discussed below, restricted cash was included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2018 and 2017 .
Fair Value Measurements	Fair Value Measurements Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and classifies the inputs used to measure fair value into the following hierarchy: • Level 1—Quoted prices for identical instruments in active markets; • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; and • Level 3—Valuations based on inputs that are unobservable, generally utilizing pricing models or other valuation techniques that reflect management’s judgment and estimates. The fair value estimates are based upon certain market assumptions and information available to management. The carrying values of the following financial instruments approximated their fair values as of June 30, 2018 and December 31, 2017 : cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and current maturities of long-term debt. Fair values approximate carrying values for these financial instruments since they are short-term in nature or are receivable or payable on demand. The Level 1 cash equivalents include money market funds valued using quoted prices in active markets and cash collected on receivables which collateralize borrowings related to the Company’s trade securitization program (see Note 5 —Debt ). The Level 2 cash equivalents include short-term investments valued using published interest rates for instruments with similar terms and maturities.
Adoption of New Accounting Standards and Accounting Pronouncements Issued But Not Yet Effective	Adoption of New Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue (Topic 606): “Revenue from Contracts with Customers.” Topic 606 includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. As discussed further in Note 3 —Revenue Recognition , the Company adopted Topic 606 on January 1, 2018. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): “Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force).” This ASU addresses eight specific cash flow classification issues with the objective of reducing diversity in practice. Under the new standard, cash payments for debt prepayments or debt extinguishment costs should be classified as outflows for financing activities. Additional cash flow issues covered under the standard include: settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company adopted this standard on January 1, 2018. Adoption was on a prospective basis and did not have a material effect on the Company’s Condensed Consolidated Statements of Cash Flows . In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): “Restricted Cash.” This ASU requires that the statement of cash flows reconcile the change during the period in the total of cash, cash equivalents, and restricted cash. The Company adopted this standard on January 1, 2018 and applied its provisions retrospectively. The adoption of this standard decreased cash flows provided by operating activities by approximately $14 million and decreased cash flows used by investing activities by approximately $40 million on the Consolidated Statement of Cash Flows for the year ended December 31, 2017 . In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits (Topic 715): “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU changes how employers that sponsor defined benefit pension and/or other postretirement benefit plans present the cost of the benefits in the Condensed Consolidated Statements of Operations . This cost, commonly referred to as the “net periodic benefit cost,” is comprised of several components that reflect different aspects of the arrangement with the employee, including the effect of the related funding. Previously, the Company aggregated the various components of the net periodic benefit cost (including interest cost and the expected return on plan assets) for presentation purposes and included these costs within Operating income in the Condensed Consolidated Statements of Operations . Under the new guidance, these costs are presented below Operating income . The Company adopted the standard on January 1, 2018 and recast prior periods to reflect the new presentation. The adoption of the standard had no impact on Net income . The amount of net periodic benefit income included in Other expense (income) was $18.2 million and $9.9 million for the three months ended June 30, 2018 and 2017 , respectively, and $36.7 million and $19.7 million for the six months ended June 30, 2018 and 2017 , respectively. In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): “Scope of Modification Accounting.” This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new standard, modification accounting applies unless all of the following conditions are met: (i) the fair value of the modified award is the same as the fair value of the original award immediately before the modification, (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the modification, and (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. Generally speaking, modification accounting requires an entity to calculate and recognize the incremental fair value of the modified award as compensation cost on the date of modification (for a vested award) or over the remaining service period (for an unvested award). The impact of this guidance, which was applied prospectively on January 1, 2018, is dependent on future modifications, if any, to the Company’s share-based payment awards. In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740): “Amendments to Securities and Exchange Commission (“SEC”) Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118.” The ASU amends ASC 740 to provide further guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) and allows for the recognition of provisional amounts in the event that a company does not have the necessary information available, prepared, or analyzed to finalize its accounting under ASC 740. ASU 2018-05 allows for adjustments to provisional amounts in multiple reporting periods during the allowable one-year measurement period from the Tax Act enactment date. This standard is effective upon issuance. As of December 31, 2017 , the Company accounted for the mandatory deemed repatriation of accumulated foreign earnings and potential Global Intangible Low-Taxed Income (“GILTI”) and Foreign Derived Intangible Income on a provisional basis. There have been no changes to the conclusions reached as of December 31, 2017 . As of June 30, 2018 , the Company has not made a policy decision regarding whether to record deferred taxes on GILTI as these estimates may be impacted by further analysis, future clarification and guidance regarding available tax accounting methods and elections, earnings and profits computations, and state tax conformity to the Tax Act. Accounting Pronouncements Issued But Not Yet Effective In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases, including operating leases. Under the new requirements, a lessee will recognize in the balance sheet a liability to make lease payments (the lease liability) and the right-of-use asset representing the right to the underlying asset for the lease term. For leases with a term of 12 months or less, the lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, which clarified certain aspects of ASU 2016-02 based on inquiries made by various stakeholders. Also, in July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): “Targeted Improvements,” which provides an optional transition method to allow entities, on adoption of ASU 2016-02, to report prior periods under previous lease accounting guidance. The standards are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the effects these ASUs will have on its Condensed Consolidated Financial Statements and related disclosures. As of December 31, 2017 , the Company reported $1,978.5 million in operating lease obligations and will evaluate those contracts, as well as other existing arrangements, to determine if they qualify for lease accounting under the new standards. The Company does not plan to adopt the standards early.
Segment Reporting	Segment Reporting The Company is organized into two reportable segments: Transportation and Logistics. In the Transportation segment, the Company provides multiple services to facilitate the movement of raw materials, parts and finished goods. The Company accomplishes this by using its proprietary transportation technology, third-party carriers and Company-owned trucks and service centers. XPO’s transportation services include: freight brokerage, last mile, l ess-than-truckload (“LTL”) , truckload, global forwarding and managed transportation. Freight brokerage, last mile, global forwarding and managed transportation are all non-asset or asset-light businesses. LTL and truckload are primarily asset-based. In the Logistics segment, referred to as supply chain, the Company provides a range of contract logistics services, including value-added warehousing and distribution, cold chain solutions, e-fulfillment, reverse logistics, packaging, factory support, aftermarket support and inventory management services for customers. In addition, the Company provides highly engineered, customized solutions and supply chain optimization services, such as production flow management. Certain of the Company’s operating units provide services to other Company operating units outside of their reportable segment. Billings for such services are based on negotiated rates, which the Company believes approximate fair value, and are reflected as revenues of the billing segment. These rates are adjusted from time to time based on market conditions. Such intersegment revenues and expenses are eliminated in the Company’s consolidated results. Corporate includes corporate headquarters costs for executive officers and certain legal and financial functions, as well as certain other costs and credits not attributed to the Company’s core business. These costs are not allocated to the business segments. The Company’s chief operating decision maker (“CODM”) regularly reviews financial information at the reporting segment level in order to make decisions about resources to be allocated to the segments and to assess their performance. Segment results that are reported to the CODM include items directly attributable to a segment, as well as those that can be allocated on a reasonable basis. Asset information by segment is not provided to the Company’s CODM, as the majority of the Company’s assets are managed at the corporate level.
Revenue Recognition	The Company applies the disclosure exemption in Topic 606 that permits the omission of remaining performance obligations that either (i) have original expected durations of one year or less or (ii) contain variable consideration. The Company’s remaining performance obligations related to variable consideration will be satisfied over the remaining tenure of contracts based on the volume of services provided. Remaining performance obligation are estimates made at a point in time and actual amounts may differ from these estimates due to changes in foreign currency exchange rates and contract revisions and terminations. On January 1, 2018, the Company adopted Topic 606 using the modified retrospective method applied to those contracts that were not completed as of the adoption date. The Company recorded an immaterial adjustment to opening Retained earnings as of January 1, 2018 for the cumulative impact of adoption related to the recognition of in-transit revenue in its transportation business. Results for 2018 are presented under Topic 606, while prior periods were not adjusted and are reported under Topic 605 “Revenue Recognition”. The adoption of Topic 606 did not have a material impact on the Condensed Consolidated Financial Statements as of the adoption date or for the six months ended June 30, 2018 . Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following is a description of the Company’s performance obligations for the transportation and logistics reportable segments. Reportable Segment Nature, Timing of Satisfaction of Performance Obligations, and Significant Payment Terms Transportation The Company’s transportation segment generates revenue from providing truck brokerage and transportation services for its customers. Certain accessorial services may be provided to customers under their transportation contracts, such as unloading and other incidental services. The Company deems the transportation services including related accessorial services as a single performance obligation as the accessorial services are immaterial in the context of the contracts with customers. The transaction price is based on the consideration specified in the contract with the customer. A performance obligation is created when a customer under a transportation contract submits a bill of lading for the transport of goods from origin to destination. These performance obligations are satisfied as the shipments move from origin to destination. Transportation revenue is recognized proportionally as a shipment moves from origin to destination and related costs are recognized as incurred. Some of the customer contracts contain a promise to stand ready as the Company is obligated to provide transportation services for the customer. For these contracts, the Company recognizes revenue on a straight-line basis over the term of the contract because the pattern of benefit to the customer as well as the Company’s efforts to fulfill the contract are generally distributed evenly throughout the period. Performance obligations are short-term with transit days less than one week. Generally, customers are billed either upon shipment of the freight or monthly and remit payment according to approved payment terms. The Company recognizes revenue on a net basis when the Company does not control the specific services, is not responsible for providing the transportation service and does not have discretion in establishing the price for the service. Logistics The Company’s logistics segment generates revenue from providing warehousing services for its customers, including e-fulfillment, reverse logistics, packaging and warehousing and distributing under contracts ranging from a few months to a few years. The Company’s performance obligations are satisfied over time as the customers simultaneously receive and consume the benefits of the Company’s services. The contracts contain a single performance obligation as the distinct services provided are satisfied over time and are substantially the same and possess the same pattern of transfer. The transaction price is based on the consideration specified in the contract with the customer and contains fixed and variable consideration. In general, the fixed consideration component of a contract represents reimbursement for facility and equipment costs incurred to satisfy the performance obligation and is recognized on a straight-line basis over the term of the contract. The variable consideration component is comprised of cost reimbursement, per unit pricing or time and materials pricing and is determined based on the costs, units or hours of services provided, respectively, and is recognized over time based on the level of activity volume. Generally, the Company’s contracts contain provisions for adjustments to pricing based on achieving agreed-upon performance metrics, changes in volumes, services and other market conditions. Revenue relating to such pricing adjustments is estimated and included in the consideration if it is probable that a significant revenue reversal will not occur in the future. The estimate of variable consideration is determined either by the expected value or most likely amount method and factors in current, past and forecasted experience with the customer. Customers are billed based on the terms specified in the contract with the customer and remit payment according to approved payment terms. The Company applies the practical expedient in Topic 606 that permits the recognition of incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in Direct operating expense .
Noncontrolling Interests	Noncontrolling Interests The Company holds a controlling financial interest in entities where it currently holds, directly or indirectly, more than 50% of the voting rights or where it exercises control through substantive participating rights or as a general partner. Net income attributable to noncontrolling interests is deducted from Net income to determine Net income attributable to XPO .
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The participating securities consist of the Company’s Series A Convertible Perpetual Preferred Stock. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. In periods of loss, no allocation is made to the preferred shares.

Organization, Description of 19

Organization, Description of Business and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Carrying Value and Valuation of Financial Instruments Within the Fair-Value Hierarchy	The following table summarizes the fair value hierarchy of cash equivalents: As of June 30, 2018 (In millions) Carrying Value Fair Value Level 1 Level 2 Cash equivalents $ 173.3 $ 173.3 $ 171.6 $ 1.7 As of December 31, 2017 (In millions) Carrying Value Fair Value Level 1 Level 2 Cash equivalents $ 91.1 $ 91.1 $ 75.4 $ 15.7

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Selected Financial Data for Each Operating Segment	The following table identifies selected financial data for the three and six months ended June 30, 2018 and 2017 : (In millions) Transportation Logistics Corporate Eliminations Total Three Months Ended June 30, 2018 (1) Revenue $ 2,887.7 $ 1,507.8 $ — $ (32.0 ) $ 4,363.5 Operating income (loss) 205.4 67.3 (44.7 ) — 228.0 Depreciation and amortization 116.0 57.8 2.6 — 176.4 Three Months Ended June 30, 2017 (1) Revenue $ 2,522.7 $ 1,265.7 $ — $ (28.1 ) $ 3,760.3 Operating income (loss) 165.0 49.4 (39.3 ) — 175.1 Depreciation and amortization 113.3 49.6 1.5 — 164.4 Six Months Ended June 30, 2018 (1) Revenue $ 5,661.8 $ 2,955.9 $ — $ (62.7 ) $ 8,555.0 Operating income (loss) 344.4 114.8 (90.2 ) — 369.0 Depreciation and amortization 229.9 113.1 4.3 — 347.3 Six Months Ended June 30, 2017 (1) Revenue $ 4,914.5 $ 2,441.2 $ — $ (55.9 ) $ 7,299.8 Operating income (loss) 270.3 82.3 (73.7 ) — 278.9 Depreciation and amortization 221.5 96.3 4.0 — 321.8 (1) Certain immaterial organizational changes were made in the first quarter of 2018 related to the Company’s managed transportation business. Previously, it had been included in the Logistics segment and in 2018 it has been reflected in the Transportation segment. Prior period information was recast to conform to the current year presentation.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Description of the Company's Performance Obligations	The following is a description of the Company’s performance obligations for the transportation and logistics reportable segments. Reportable Segment Nature, Timing of Satisfaction of Performance Obligations, and Significant Payment Terms Transportation The Company’s transportation segment generates revenue from providing truck brokerage and transportation services for its customers. Certain accessorial services may be provided to customers under their transportation contracts, such as unloading and other incidental services. The Company deems the transportation services including related accessorial services as a single performance obligation as the accessorial services are immaterial in the context of the contracts with customers. The transaction price is based on the consideration specified in the contract with the customer. A performance obligation is created when a customer under a transportation contract submits a bill of lading for the transport of goods from origin to destination. These performance obligations are satisfied as the shipments move from origin to destination. Transportation revenue is recognized proportionally as a shipment moves from origin to destination and related costs are recognized as incurred. Some of the customer contracts contain a promise to stand ready as the Company is obligated to provide transportation services for the customer. For these contracts, the Company recognizes revenue on a straight-line basis over the term of the contract because the pattern of benefit to the customer as well as the Company’s efforts to fulfill the contract are generally distributed evenly throughout the period. Performance obligations are short-term with transit days less than one week. Generally, customers are billed either upon shipment of the freight or monthly and remit payment according to approved payment terms. The Company recognizes revenue on a net basis when the Company does not control the specific services, is not responsible for providing the transportation service and does not have discretion in establishing the price for the service. Logistics The Company’s logistics segment generates revenue from providing warehousing services for its customers, including e-fulfillment, reverse logistics, packaging and warehousing and distributing under contracts ranging from a few months to a few years. The Company’s performance obligations are satisfied over time as the customers simultaneously receive and consume the benefits of the Company’s services. The contracts contain a single performance obligation as the distinct services provided are satisfied over time and are substantially the same and possess the same pattern of transfer. The transaction price is based on the consideration specified in the contract with the customer and contains fixed and variable consideration. In general, the fixed consideration component of a contract represents reimbursement for facility and equipment costs incurred to satisfy the performance obligation and is recognized on a straight-line basis over the term of the contract. The variable consideration component is comprised of cost reimbursement, per unit pricing or time and materials pricing and is determined based on the costs, units or hours of services provided, respectively, and is recognized over time based on the level of activity volume. Generally, the Company’s contracts contain provisions for adjustments to pricing based on achieving agreed-upon performance metrics, changes in volumes, services and other market conditions. Revenue relating to such pricing adjustments is estimated and included in the consideration if it is probable that a significant revenue reversal will not occur in the future. The estimate of variable consideration is determined either by the expected value or most likely amount method and factors in current, past and forecasted experience with the customer. Customers are billed based on the terms specified in the contract with the customer and remit payment according to approved payment terms.
Summary of Disaggregation of Revenues	The following table presents the Company’s revenue disaggregated by geographical area based on sales office location: Three Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 2,046.2 $ 533.0 $ (5.2 ) $ 2,574.0 North America (excluding United States) 66.8 15.6 — 82.4 France 385.7 176.9 (4.2 ) 558.4 United Kingdom 180.1 356.5 (17.5 ) 519.1 Europe (excluding France and United Kingdom) 203.4 399.9 (4.2 ) 599.1 Other 5.5 25.9 (0.9 ) 30.5 Total $ 2,887.7 $ 1,507.8 $ (32.0 ) $ 4,363.5 Six Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 4,000.1 $ 1,035.2 $ (10.1 ) $ 5,025.2 North America (excluding United States) 129.1 29.0 — 158.1 France 774.4 355.6 (8.7 ) 1,121.3 United Kingdom 350.2 695.8 (33.5 ) 1,012.5 Europe (excluding France and United Kingdom) 399.0 789.6 (8.6 ) 1,180.0 Other 9.0 50.7 (1.8 ) 57.9 Total $ 5,661.8 $ 2,955.9 $ (62.7 ) $ 8,555.0 The following table presents the Company’s revenue disaggregated by service offering: (In millions) Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Transportation: Freight brokerage and truckload $ 1,210.4 $ 2,389.9 LTL 1,246.8 2,419.5 Last mile (1) 268.5 506.9 Managed transportation 114.3 251.2 Global forwarding 85.6 167.3 Transportation eliminations (37.9 ) (73.0 ) Total Transportation segment revenue 2,887.7 5,661.8 Total Logistics segment revenue 1,507.8 2,955.9 Intersegment eliminations (32.0 ) (62.7 ) Total revenue $ 4,363.5 $ 8,555.0 (1) Comprised of the Company’s North American last mile operations.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position	The following table presents the account on the Condensed Consolidated Balance Sheets in which the Company’s derivative instruments have been recognized, the fair value hierarchy level applicable to each type of derivative instrument, and the related notional amounts and fair values: June 30, 2018 Derivative Assets Derivative Liabilities (In millions) Notional Amount Balance Sheet Caption Fair Value Balance Sheet Caption Fair Value Derivatives designated as hedges: Cross-currency swap agreements $ 1,287.0 Other long-term assets $ — Other long-term liabilities $ (120.0 ) Interest rate swap 1,200.0 Other current assets — Other current liabilities — Derivatives not designated as hedges: Foreign currency option and forward contracts 445.0 Other current assets 0.8 Other current liabilities (1.4 ) Total $ 0.8 $ (121.4 ) December 31, 2017 Derivative Assets Derivative Liabilities (In millions) Notional Amount Balance Sheet Caption Fair Value Balance Sheet Caption Fair Value Derivatives designated as hedges: Cross-currency swap agreements $ 1,303.7 Other long-term assets $ — Other long-term liabilities $ (146.4 ) Derivatives not designated as hedges: Foreign currency option and forward contracts 1,038.0 Other current assets 2.2 Other current liabilities (15.5 ) Total $ 2.2 $ (161.9 )
Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments	The effect of derivative instruments designated as hedges and nonderivatives designated as hedges in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018 and June 30, 2017 , are as follows: Amount Excluded from Effectiveness Testing Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative Amount of Gain Reclassified from AOCI into Net Income Amount of Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended June 30, (In millions) 2018 2018 2017 2018 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 2.7 $ 16.6 $ — $ 14.8 $ 0.1 Interest rate swaps — (0.3 ) 0.6 — — Derivatives designated as net investment hedges: Cross-currency swap agreements 37.2 66.8 (58.2 ) — 2.3 Nonderivatives designated as hedges: Foreign currency denominated notes — — 5.0 — — Total $ 83.1 $ (52.6 ) $ 14.8 $ 2.4 Amount Excluded from Effectiveness Testing Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative Amount of Gain Reclassified from AOCI into Net Income Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Six Months Ended June 30, (In millions) 2018 2018 2017 2018 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 2.7 $ 6.0 $ — $ 13.0 $ 0.3 Interest rate swaps — (0.3 ) 1.1 — — Derivatives designated as net investment hedges: Cross-currency swap agreements 37.2 19.6 (62.3 ) — (0.7 ) Nonderivatives designated as hedges: Foreign currency denominated notes — — 5.6 — — Total $ 25.3 $ (55.6 ) $ 13.0 $ (0.4 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt is comprised of the following: June 30, 2018 December 31, 2017 (In millions) Principal Balance Carrying Value Principal Balance Carrying Value ABL facility $ — $ — $ 100.0 $ 100.0 Term loan facility 1,503.0 1,471.5 1,494.0 1,455.6 6.125% Senior notes due 2023 535.0 528.5 535.0 528.0 6.50% Senior notes due 2022 1,600.0 1,584.7 1,600.0 1,583.0 6.70% Senior debentures due 2034 300.0 203.9 300.0 202.8 4.00% Euro private placement notes due 2020 14.0 14.7 14.4 15.3 Trade Securitization Program 364.0 360.7 302.6 298.6 Asset financing 53.3 53.3 90.0 90.0 Capital leases for equipment 273.7 273.7 247.9 247.9 Total debt 4,643.0 4,491.0 4,683.9 4,521.2 Current maturities of long-term debt 84.9 84.9 103.7 103.7 Long-term debt $ 4,558.1 $ 4,406.1 $ 4,580.2 $ 4,417.5

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Schedule of Activity for Equity Attributable to Noncontrolling Interests	Activity for the equity attributable to noncontrolling interests for the six months ended June 30, 2018 and 2017 is as follows: (In millions) Total Stockholders' Equity Noncontrolling Interests Total Equity Balance at December 31, 2017 $ 3,604.4 $ 405.6 $ 4,010.0 Net income 221.6 16.6 238.2 Other comprehensive loss (64.5 ) (13.2 ) (77.7 ) Other (29.5 ) (1.3 ) (30.8 ) Balance at June 30, 2018 $ 3,732.0 $ 407.7 $ 4,139.7 (In millions) Total Stockholders' Equity Noncontrolling Interests Total Equity Balance at December 31, 2016 $ 2,700.0 $ 337.6 $ 3,037.6 Net income 73.2 8.9 82.1 Other comprehensive income 99.1 26.0 125.1 Other 7.9 (2.9 ) 5.0 Balance at June 30, 2017 $ 2,880.2 $ 369.6 $ 3,249.8

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In periods of loss, no allocation is made to the preferred shares. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2018 2017 2018 2017 Basic earnings per common share Net income attributable to XPO $ 149.0 $ 51.9 $ 221.6 $ 73.2 Cumulative preferred dividends (0.7 ) (0.7 ) (1.4 ) (1.4 ) Non-cash allocation of undistributed earnings (10.8 ) (3.6 ) (15.8 ) (4.7 ) Net income attributable to common shares, basic $ 137.5 $ 47.6 $ 204.4 $ 67.1 Basic weighted-average common shares 120.7 111.8 120.4 111.6 Basic earnings per share $ 1.14 $ 0.43 $ 1.70 $ 0.60 Diluted earnings per common share Net income attributable to common shares, basic $ 137.5 $ 47.6 $ 204.4 $ 67.1 Interest from Convertible Senior Notes — 0.3 — 0.7 Net income attributable to common shares, diluted $ 137.5 $ 47.9 $ 204.4 $ 67.8 Basic weighted-average common shares 120.7 111.8 120.4 111.6 Dilutive effect of Convertible Senior Notes — 2.9 — 3.0 Dilutive effect of non-participating stock-based awards and equity forward 13.4 10.0 13.3 10.0 Diluted weighted-average common shares 134.1 124.7 133.7 124.6 Diluted earnings per share $ 1.03 $ 0.38 $ 1.53 $ 0.54 Potential common shares excluded 10.2 10.2 10.2 10.2

Organization, Description of 26

Organization, Description of Business and Basis of Presentation - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments (in segments) | segment			2
Decrease in cash provided by operating activities			$ (248)	$ (225.9)
Decrease in cash used by investing activities			195.8	219.8
Operating lease obligations					$ 1,978.5
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in cash provided by operating activities					14
Decrease in cash used by investing activities					40
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit amount included in other income	$ 18.2	$ 9.9	36.7	$ 19.7
Other long-term assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash included in Other long-term assets	$ 13.2		$ 13.2		$ 52.1

Organization, Description of 27

Organization, Description of Business and Basis of Presentation - Schedule of Financial Instruments Within the Fair Value Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 173.3	$ 91.1
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	173.3	91.1
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	171.6	75.4
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 1.7	$ 15.7

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	6 Months Ended
	Jun. 30, 2018segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	2

Segment Reporting - Selected Fi

Segment Reporting - Selected Financial Data for Each of Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Revenue	$ 4,363.5	$ 3,760.3	$ 8,555	$ 7,299.8
Operating income (loss)	228	175.1	369	278.9
Depreciation and amortization	176.4	164.4	347.3	321.8
Transportation
Segment Reporting Information [Line Items]
Revenue	2,887.7		5,661.8
Operating Segments | Transportation
Segment Reporting Information [Line Items]
Revenue	2,887.7	2,522.7	5,661.8	4,914.5
Operating income (loss)	205.4	165	344.4	270.3
Depreciation and amortization	116	113.3	229.9	221.5
Operating Segments | Logistics
Segment Reporting Information [Line Items]
Revenue	1,507.8	1,265.7	2,955.9	2,441.2
Operating income (loss)	67.3	49.4	114.8	82.3
Depreciation and amortization	57.8	49.6	113.1	96.3
Corporate
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating income (loss)	(44.7)	(39.3)	(90.2)	(73.7)
Depreciation and amortization	2.6	1.5	4.3	4
Eliminations
Segment Reporting Information [Line Items]
Revenue	(32)	(28.1)	(62.7)	(55.9)
Operating income (loss)	0	0	0	0
Depreciation and amortization	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Performance obligation, number of transit days	7 days

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Geographical Area (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 4,363.5	$ 8,555
United States
Disaggregation of Revenue [Line Items]
Revenue	2,574	5,025.2
North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	82.4	158.1
France
Disaggregation of Revenue [Line Items]
Revenue	558.4	1,121.3
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	519.1	1,012.5
Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	599.1	1,180
Other
Disaggregation of Revenue [Line Items]
Revenue	30.5	57.9
Transportation
Disaggregation of Revenue [Line Items]
Revenue	2,887.7	5,661.8
Transportation | United States
Disaggregation of Revenue [Line Items]
Revenue	2,046.2	4,000.1
Transportation | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	66.8	129.1
Transportation | France
Disaggregation of Revenue [Line Items]
Revenue	385.7	774.4
Transportation | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	180.1	350.2
Transportation | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	203.4	399
Transportation | Other
Disaggregation of Revenue [Line Items]
Revenue	5.5	9
Logistics
Disaggregation of Revenue [Line Items]
Revenue	1,507.8	2,955.9
Logistics | United States
Disaggregation of Revenue [Line Items]
Revenue	533	1,035.2
Logistics | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	15.6	29
Logistics | France
Disaggregation of Revenue [Line Items]
Revenue	176.9	355.6
Logistics | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	356.5	695.8
Logistics | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	399.9	789.6
Logistics | Other
Disaggregation of Revenue [Line Items]
Revenue	25.9	50.7
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(32)	(62.7)
Eliminations | United States
Disaggregation of Revenue [Line Items]
Revenue	(5.2)	(10.1)
Eliminations | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	0	0
Eliminations | France
Disaggregation of Revenue [Line Items]
Revenue	(4.2)	(8.7)
Eliminations | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	(17.5)	(33.5)
Eliminations | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	(4.2)	(8.6)
Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenue	(0.9)	(1.8)
Eliminations | Transportation
Disaggregation of Revenue [Line Items]
Revenue	$ (37.9)	$ (73)

Revenue Recognition - Disaggr32

Revenue Recognition - Disaggregation of Revenue by Products and Services (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	$ 4,363.5		$ 8,555
Total revenue	4,363.5	$ 3,760.3	8,555	$ 7,299.8
Transportation
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	2,887.7		5,661.8
Total revenue	2,887.7		5,661.8
Transportation | Freight brokerage and truckload
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	1,210.4		2,389.9
Transportation | LTL
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	1,246.8		2,419.5
Transportation | Last mile
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	268.5		506.9
Transportation | Managed transportation
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	114.3		251.2
Transportation | Global forwarding
Disaggregation of Revenue [Line Items]
Revenue, including assessed taxes	85.6		167.3
Logistics
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	1,507.8		2,955.9
Eliminations
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	(32)		(62.7)
Total revenue	(32)	$ (28.1)	(62.7)	$ (55.9)
Eliminations | Transportation
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	$ (37.9)		$ (73)

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Billions	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	80.00%
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 0.8	$ 2.2
Derivative Liabilities	(121.4)	(161.9)
Level 2 | Derivatives designated as hedges: | Cross-currency swap agreements | Other Long Term Assets and Other Long Term Liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	1,287	1,303.7
Level 2 | Derivatives designated as hedges: | Cross-currency swap agreements | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Level 2 | Derivatives designated as hedges: | Cross-currency swap agreements | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(120)	(146.4)
Level 2 | Derivatives designated as hedges: | Interest rate swap | Other Current Assets and Other Current Liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	1,200
Level 2 | Derivatives designated as hedges: | Interest rate swap | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0
Level 2 | Derivatives designated as hedges: | Interest rate swap | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	0
Level 2 | Derivatives not designated as hedges: | Foreign currency option and forward contracts | Other Current Assets and Other Current Liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	445	1,038
Level 2 | Derivatives not designated as hedges: | Foreign currency option and forward contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0.8	2.2
Level 2 | Derivatives not designated as hedges: | Foreign currency option and forward contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ (1.4)	$ (15.5)

Derivative Instruments - Sche35

Derivative Instruments - Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	$ 83.1	$ (52.6)	$ 25.3	$ (55.6)
Amount of Gain Reclassified from AOCI into Net Income	14.8		13
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	(2.4)		0.4
Derivatives not designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	(16.4)	28.3	(4.2)	38.5
Cross-currency swap agreements | Derivatives designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	(2.7)		(2.7)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	16.6	0	6	0
Amount of Gain Reclassified from AOCI into Net Income	14.8		13
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	(0.1)		(0.3)
Cross-currency swap agreements | Derivatives not designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	(37.2)		(37.2)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	66.8	(58.2)	19.6	(62.3)
Amount of Gain Reclassified from AOCI into Net Income	0		0
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	(2.3)		0.7
Interest rate swap | Derivatives designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	0		0
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	(0.3)	0.6	(0.3)	1.1
Amount of Gain Reclassified from AOCI into Net Income	0		0
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0		0
Foreign Currency Denominated Notes [Member] | Derivatives not designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	0		0
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	0	$ 5	0	$ 5.6
Amount of Gain Reclassified from AOCI into Net Income	0		0
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0		$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Aug. 25, 2016	Jun. 04, 2015
Designated as Hedging Instrument | Cross-currency swap agreements
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings	$ 2,700,000		$ 2,700,000
Derivatives not designated as hedges:
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings	16,400,000	$ (28,300,000)	4,200,000	$ (38,500,000)
Derivatives not designated as hedges: | Cross-currency swap agreements
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings	$ 37,200,000		$ 37,200,000
Maximum | Derivatives not designated as hedges: | Foreign currency option and forward contracts
Derivative [Line Items]
Derivative, term of contract			12 months
Net Investment Hedging | Designated as Hedging Instrument | Cross-currency swap agreements
Derivative [Line Items]
Nonderivatives designated as hedges, notional amount			$ 0		$ 0
6.125% Senior notes due 2023
Derivative [Line Items]
Stated interest rate	6.125%		6.125%			6.125%
6.50% Senior notes due 2022
Derivative [Line Items]
Stated interest rate	6.50%		6.50%				6.50%
Senior Notes Due 2021
Derivative [Line Items]
Stated interest rate							5.75%

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Aug. 25, 2016	Jun. 04, 2015
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 4,643	$ 4,683.9
Current maturities of long-term debt, principal balance	84.9	103.7
Long-term debt, principal balance	4,558.1	4,580.2
Current maturities of long-term debt, carrying amount	84.9	103.7
Long-term debt, carrying amount	4,406.1	4,417.5
Capital leases for equipment
Debt Instrument [Line Items]
Long-term debt, principal balance	273.7	247.9
Term loan facility
Debt Instrument [Line Items]
Long-term debt, principal balance	1,503	1,494
6.125% Senior notes due 2023
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 535	535
Stated interest rate	6.125%		6.125%
6.50% Senior notes due 2022
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 1,600	1,600
Total debt, carrying amount	$ 1,600
Stated interest rate	6.50%			6.50%
6.70% Senior debentures due 2034
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 300	300
Stated interest rate	6.70%
4.00% Euro private placement notes due 2020
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 14	14.4
Stated interest rate	4.00%
Trade Securitization Program
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 364	302.6
Asset financing
Debt Instrument [Line Items]
Long-term debt, principal balance	53.3	90
Carrying Value
Debt Instrument [Line Items]
Total debt, carrying amount	4,491	4,521.2
Current maturities of long-term debt, carrying amount	84.9	103.7
Long-term debt, carrying amount	4,406.1	4,417.5
Carrying Value | Capital leases for equipment
Debt Instrument [Line Items]
Total debt, carrying amount	273.7	247.9
Carrying Value | Term loan facility
Debt Instrument [Line Items]
Total debt, carrying amount	1,471.5	1,455.6
Carrying Value | 6.125% Senior notes due 2023
Debt Instrument [Line Items]
Total debt, carrying amount	528.5	528
Carrying Value | 6.50% Senior notes due 2022
Debt Instrument [Line Items]
Total debt, carrying amount	1,584.7	1,583
Carrying Value | 6.70% Senior debentures due 2034
Debt Instrument [Line Items]
Total debt, carrying amount	203.9	202.8
Carrying Value | 4.00% Euro private placement notes due 2020
Debt Instrument [Line Items]
Total debt, carrying amount	14.7	15.3
Carrying Value | Trade Securitization Program
Debt Instrument [Line Items]
Total debt, carrying amount	360.7	298.6
Carrying Value | Asset financing
Debt Instrument [Line Items]
Total debt, carrying amount	53.3	90
ABL facility
Debt Instrument [Line Items]
Long-term debt, principal balance	0	100
ABL facility | Carrying Value
Debt Instrument [Line Items]
Total debt, carrying amount	$ 0	$ 100

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Fair value of debt	$ 4,693.1	$ 4,816.1
Level 1
Debt Instrument [Line Items]
Fair value of debt	2,546.6	2,647.4
Level 2
Debt Instrument [Line Items]
Fair value of debt	$ 2,146.5	$ 2,168.7

Debt - ABL Facility (Details)

Debt - ABL Facility (Details) - ABL facility $ in Millions	Jun. 30, 2018USD ($)
Debt Instrument [Line Items]
Line of credit facility, borrowing base	$ 978.6
Remaining borrowing availability	740
Line of credit facility, amount drawn	$ 238.6

Debt - Refinancing of Existing

Debt - Refinancing of Existing Term Loans (Details) - USD ($) $ in Millions	Mar. 10, 2017	Feb. 28, 2018	Mar. 31, 2017	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 0	$ 10.3	$ 0	$ 9	$ 10.3	$ 9
Secured Debt | Amendment No. 3 to Credit Agreement
Debt Instrument [Line Items]
Long-term debt		$ 1,494
Secured Debt | Amendment No. 2 to Credit Agreement
Debt Instrument [Line Items]
Long-term debt			$ 1,503				$ 1,503
Term loan facility | Base Rate
Debt Instrument [Line Items]
Interest rate margin		1.00%	1.25%
Term loan facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Interest rate margin		2.00%	2.25%
Term loan facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate margin	0.00%
Term loan facility | Secured Debt
Debt Instrument [Line Items]
Annual effective interest rate				4.09%				4.09%

Debt - Trade Securitization Pro

Debt - Trade Securitization Program (Details) $ in Millions	1 Months Ended
	Oct. 31, 2017	Jun. 30, 2018USD ($)	Jun. 30, 2018EUR (€)	Feb. 12, 2018USD ($)	Feb. 12, 2018EUR (€)
XPO Logistics Europe SA
Debt Instrument [Line Items]
Controlling interest percentage in subsidiary		86.25%	86.25%
Trade Receivables Securitization Program | XPO Collections Designated Activity Company Limited | Affiliated Entity
Debt Instrument [Line Items]
Trade securitization program, term	3 years
Aggregate maximum borrowing capacity				$ 408	€ 350,000,000
Remaining borrowing availability		$ 44	€ 37,700,000
Weighted average interest rate		1.02%	1.02%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	25.40%	32.70%	18.50%	18.00%
Discrete tax benefits related to share-based payment arrangements	$ 3.9	$ 3.7	$ 23	$ 11.4
Discrete tax benefits related to the deduction of foreign taxes paid in prior years			$ 4.3
Release of valuation allowance				3.3
Release of reserves related to uncertain tax positions				$ 2.6

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details)	Jun. 30, 2018
Norbert Dentressangle SA
Noncontrolling Interest [Line Items]
Minority interest percentage	13.75%
XPO Logistics Europe SA
Noncontrolling Interest [Line Items]
Controlling interest percentage in subsidiary	86.25%

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Activity for Equity Attributable to Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 31, 2017		$ 3,249.8	$ 4,010	$ 3,037.6
Net income	$ 159.1	57.2	238.2	82.1
Other comprehensive income (loss)	(122.6)	93.4	(77.7)	125.1
Other			(30.8)	5
Balance at June 30, 2018	4,139.7		4,139.7
Total Stockholders' Equity
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 31, 2017		2,880.2	3,604.4	2,700
Net income			221.6	73.2
Other comprehensive income (loss)			(64.5)	99.1
Other			(29.5)	7.9
Balance at June 30, 2018	3,732		3,732
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 31, 2017		$ 369.6	405.6	337.6
Net income			16.6	8.9
Other comprehensive income (loss)			(13.2)	26
Other			(1.3)	$ (2.9)
Balance at June 30, 2018	$ 407.7		$ 407.7

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Basic earnings per common share
Net income attributable to XPO	$ 149	$ 51.9	$ 221.6	$ 73.2
Cumulative preferred dividends	(0.7)	(0.7)	(1.4)	(1.4)
Non-cash allocation of undistributed earnings	(10.8)	(3.6)	(15.8)	(4.7)
Net income attributable to common shares, basic	$ 137.5	$ 47.6	$ 204.4	$ 67.1
Basic weighted-average common shares (in shares)	120.7	111.8	120.4	111.6
Basic earnings per share (in dollars per share)	$ 1.14	$ 0.43	$ 1.70	$ 0.60
Diluted earnings per common share
Net income attributable to common shares, basic	$ 137.5	$ 47.6	$ 204.4	$ 67.1
Interest from Convertible Senior Notes	0	0.3	0	0.7
Net income attributable to common shares, diluted	$ 137.5	$ 47.9	$ 204.4	$ 67.8
Basic weighted-average common shares (in shares)	120.7	111.8	120.4	111.6
Dilutive effect of Convertible Senior Notes (in shares)	0	2.9	0	3
Dilutive effect of non-participating stock-based awards and equity forward (in shares)	13.4	10	13.3	10
Diluted weighted-average common shares (in shares)	134.1	124.7	133.7	124.6
Diluted earnings per share (in dollars per share)	$ 1.03	$ 0.38	$ 1.53	$ 0.54
Potential common shares excluded (in shares)	10.2	10.2	10.2	10.2

Legal and Regulatory Matters -

Legal and Regulatory Matters - Additional Information (Details) $ in Millions	May 16, 2017USD ($)	Jul. 17, 2015USD ($)claimant	Mar. 06, 2015class_actionclaimant	Apr. 30, 2017USD ($)claimant	Jun. 30, 2015USD ($)claimant	Dec. 31, 2014claimant	Dec. 31, 2012operator	May 31, 2018class_action
California Labor Commission
Loss Contingencies [Line Items]
Number of owner operators (in operators) | operator							150
Number of claims heard by court (in claimants) | claimant		7	170	4	5	7
Amount claimed | $		$ 2.9			$ 0.9
Settlement amount awarded to other party | $	$ 1			$ 0.9
Number of class actions related to remaining claimants (in class actions) | class_action			3
Last Mile Logistics Classifications Claims
Loss Contingencies [Line Items]
Number of class actions related to remaining claimants (in class actions) | class_action								4

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended		3 Months Ended				6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Subsequent Event [Line Items]
Debt extinguishment loss			$ 0	$ 10,300,000	$ 0	$ 9,000,000	$ 10,300,000	$ 9,000,000
Offered In Connection With Forward Sale Agreements
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares)		6,000,000
Sale of stock, price per share (in dollars per share)		$ 58.08
Offered In Connection With Forward Sale Agreements | Subsequent Event
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares)	6,000,000
Offered Directly By The Company
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares)		5,000,000
Offered Directly By The Company | Subsequent Event
Subsequent Event [Line Items]
Net proceeds	$ 351,000,000
Morgan Stanley Co. LLC | Offered In Connection With Forward Sale Agreements
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares)		3,000,000
6.50% Senior notes due 2022
Subsequent Event [Line Items]
Long-term debt			$ 1,600,000,000				$ 1,600,000,000
6.50% Senior notes due 2022 | Subsequent Event
Subsequent Event [Line Items]
Repurchased amount	$ 400,000,000
Redemption price percentage	103.25%
Debt extinguishment loss	$ 17,000,000