XPO Logistics (XPO) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-32172
Entity Registrant Name	XPO Logistics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	03-0450326
Entity Address, Address Line One	Five American Lane
Entity Address, City or Town	Greenwich,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06831
City Area Code	855
Local Phone Number	976-6951
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	XPO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business Entity	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		92,181,297
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001166003
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 497	$ 502
Accounts receivable, net of allowances of $57 and $52, respectively	2,723	2,596
Other current assets	570	590
Total current assets	3,790	3,688
Property and equipment, net of $1,855 and $1,585 in accumulated depreciation, respectively	2,551	2,605
Operating lease assets	2,074
Goodwill	4,451	4,467
Identifiable intangible assets, net of $775 and $706 in accumulated amortization, respectively	1,168	1,253
Other long-term assets	280	257
Total long-term assets	10,524	8,582
Total assets	14,314	12,270
Current liabilities:
Accounts payable	1,176	1,258
Accrued expenses	1,491	1,480
Short-term borrowings and current maturities of long-term debt	340	367
Short-term operating lease liabilities	481
Other current liabilities	183	208
Total current liabilities	3,671	3,313
Long-term debt	5,134	3,902
Deferred tax liability	463	444
Employee benefit obligations	145	153
Operating lease liabilities	1,611
Other long-term liabilities	378	488
Total long-term liabilities	7,731	4,987
Stockholders’ equity:
Convertible perpetual preferred stock, $0.001 par value; 10 shares authorized; 0.07 of Series A shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	41	41
Common stock, $0.001 par value; 300 shares authorized; 92 and 116 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	0	0
Additional paid-in capital	2,054	3,311
Retained earnings	563	377
Accumulated other comprehensive loss	(153)	(154)
Total stockholders’ equity before noncontrolling interests	2,505	3,575
Noncontrolling interests	407	395
Total equity	2,912	3,970
Total liabilities and equity	$ 14,314	$ 12,270

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 57	$ 52
Property and equipment, accumulated depreciation	1,855	1,585
Identifiable intangible assets, accumulated amortization	$ 775	$ 706
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	70,000	70,000
Preferred stock, shares outstanding (in shares)	70,000	70,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	92,000,000	116,000,000
Common stock, shares outstanding (in shares)	92,000,000	116,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 4,238	$ 4,363	$ 8,358	$ 8,555
Operating expenses
Cost of transportation and services	2,108	2,274	4,204	4,499
Direct operating expense	1,417	1,406	2,823	2,782
Sales, general and administrative expense	455	455	941	905
Total operating expenses	3,980	4,135	7,968	8,186
Operating income	258	228	390	369
Other expense (income)	(13)	(30)	(30)	(49)
Foreign currency loss (gain)	8	(10)	10	2
Debt extinguishment loss	0	0	5	10
Interest expense	72	55	143	114
Income before income tax provision	191	213	262	292
Income tax provision	46	54	65	54
Net income	145	159	197	238
Net income attributable to noncontrolling interests	(10)	(10)	(15)	(16)
Net income attributable to XPO	135	149	182	222
Earnings per share data:
Net income attributable to common shareholders	$ 122	$ 138	$ 165	$ 205
Basic earnings per share (in dollars per share)	$ 1.32	$ 1.14	$ 1.66	$ 1.70
Diluted earnings per share (in dollars per share)	$ 1.19	$ 1.03	$ 1.51	$ 1.53
Weighted-average common shares outstanding
Basic weighted-average common shares outstanding (in shares)	92	121	100	120
Diluted weighted-average common shares outstanding (in shares)	102	134	110	134

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 145	$ 159	$ 197	$ 238
Other comprehensive income (loss), net of tax
Foreign currency translation loss, net of tax effect of $-, $13, $(6) and $32	(1)	(114)	(2)	(69)
Unrealized gain (loss) on financial assets/liabilities designated as hedging instruments, net of tax effect of $(1), $3, $- and $(1)	4	(8)	1	(8)
Defined benefit plans adjustments, net of tax effect of $- in all periods	0	(1)	0	(1)
Other comprehensive income (loss)	3	(123)	(1)	(78)
Comprehensive income	148	36	196	160
Less: Comprehensive income (loss) attributable to noncontrolling interests	13	(15)	13	3
Comprehensive income attributable to XPO	$ 135	$ 51	$ 183	$ 157

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation (loss) gain, tax	$ 0	$ 13	$ (6)	$ 32
Unrealized (loss) gain on financial assets/liabilities designated as hedging instruments, tax effect	(1)	3	0	(1)
Defined benefit plans adjustment, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income	$ 197	$ 238
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization	360	348
Stock compensation expense	31	45
Accretion of debt	9	8
Deferred tax expense	12	8
Debt extinguishment loss	5	10
Unrealized loss (gain) on foreign currency option and forward contracts	9	(12)
Gains on sale of property and equipment	(40)	(2)
Other	23	(42)
Changes in assets and liabilities:
Accounts receivable	(289)	(179)
Other assets	(23)	(103)
Accounts payable	(81)	(44)
Accrued expenses and other liabilities	(49)	(27)
Net cash provided by operating activities	164	248
Investing activities
Payment for purchases of property and equipment	(236)	(268)
Proceeds from sale of property and equipment	85	62
Cash collected on deferred purchase price receivable	137	0
Other	0	10
Net cash used in investing activities	(14)	(196)
Financing activities
Proceeds from issuance of debt	1,758	894
Repurchase of debt	0	(812)
Proceeds from borrowings on ABL facility	1,355	680
Repayment of borrowings on ABL facility	(1,355)	(780)
Repayment of debt and capital leases	(565)	(59)
Payment for debt issuance costs	(27)	(6)
Repurchase of common stock	(1,347)	0
Change in bank overdrafts	30	8
Payment for tax withholdings for restricted shares	(5)	(46)
Dividends paid	(2)	(2)
Other	5	4
Net cash used in financing activities	(153)	(119)
Effect of exchange rates on cash, cash equivalents and restricted cash	(2)	(7)
Net decrease in cash, cash equivalents and restricted cash	(5)	(74)
Cash, cash equivalents and restricted cash, beginning of period	514	449
Cash, cash equivalents and restricted cash, end of period	509	375
Supplemental disclosure of cash flow information:
Cash paid for interest	125	125
Cash paid for income taxes	$ 58	$ 27

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total XPO Stockholders' Equity	Non-controlling Interests	Series A Preferred StockPreferred Stock
Balance at beginning of period (in shares) at Dec. 31, 2017		119,920						72
Balance at beginning of period at Dec. 31, 2017	$ 4,010	$ 0	$ 3,590	$ (43)	$ 16	$ 3,604	$ 406	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	159			149		149	10
Other comprehensive income (loss)	(123)				(98)	(98)	(25)
Exercise and vesting of stock compensation awards (in shares)		194
Tax withholdings related to vesting of stock compensation awards	(5)		(5)			(5)
Dividend declared	(1)						(1)
Stock compensation expense	9		9			9
Other (in shares)		57
Other	(4)			(4)		(4)
Balance at end of period (in shares) at Mar. 31, 2018		120,598						72
Balance at end of period at Mar. 31, 2018	4,105	$ 0	3,558	33	49	3,681	424	$ 41
Balance at beginning of period (in shares) at Dec. 31, 2017		119,920						72
Balance at beginning of period at Dec. 31, 2017	4,010	$ 0	3,590	(43)	16	3,604	406	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	238			222		222	16
Other comprehensive income (loss)	(78)				(65)	(65)	(13)
Exercise and vesting of stock compensation awards (in shares)		872
Exercise and vesting of stock compensation awards	1		1			1
Tax withholdings related to vesting of stock compensation awards	(45)		(45)			(45)
Dividend declared	(2)			(1)		(1)	(1)
Stock compensation expense	16		16			16
Other (in shares)		57
Balance at end of period (in shares) at Jun. 30, 2018		120,849						72
Balance at end of period at Jun. 30, 2018	4,140	$ 0	3,562	178	(49)	3,732	408	$ 41
Balance at beginning of period (in shares) at Mar. 31, 2018		120,598						72
Balance at beginning of period at Mar. 31, 2018	4,105	$ 0	3,558	33	49	3,681	424	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	159
Other comprehensive income (loss)	(123)
Balance at end of period (in shares) at Jun. 30, 2018		120,849						72
Balance at end of period at Jun. 30, 2018	4,140	$ 0	3,562	178	(49)	3,732	408	$ 41
Balance at beginning of period (in shares) at Dec. 31, 2018		115,683						72
Balance at beginning of period at Dec. 31, 2018	3,970	$ 0	3,311	377	(154)	3,575	395	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	145			135		135	10
Other comprehensive income (loss)	3						3
Exercise and vesting of stock compensation awards (in shares)		87
Tax withholdings related to vesting of stock compensation awards	(2)		(2)			(2)
Retirement of common stock (in shares)		(1,362)
Retirement of common stock	(80)		(80)			(80)
Dividend declared	(1)						(1)
Stock compensation expense	11		11			11
Other (in shares)		60
Other	3		3			3
Balance at end of period (in shares) at Mar. 31, 2019		93,207						72
Balance at end of period at Mar. 31, 2019	2,833	$ 0	2,122	428	(153)	2,438	395	$ 41
Balance at beginning of period (in shares) at Dec. 31, 2018		115,683						72
Balance at beginning of period at Dec. 31, 2018	3,970	$ 0	3,311	377	(154)	3,575	395	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	197			182		182	15
Other comprehensive income (loss)	(1)				1	1	(2)
Exercise and vesting of stock compensation awards (in shares)		181
Tax withholdings related to vesting of stock compensation awards	(4)		(4)			(4)
Retirement of common stock (in shares)		(23,932)
Retirement of common stock	(1,275)		(1,275)			(1,275)
Dividend declared	(2)			(1)		(1)	(1)
Stock compensation expense	19		19			19
Other (in shares)		60
Other	2		3	(1)		2
Balance at end of period (in shares) at Jun. 30, 2019		91,992						72
Balance at end of period at Jun. 30, 2019	2,912	$ 0	2,054	563	(153)	2,505	407	$ 41
Balance at beginning of period (in shares) at Mar. 31, 2019		93,207						72
Balance at beginning of period at Mar. 31, 2019	2,833	$ 0	2,122	428	(153)	2,438	395	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	145
Other comprehensive income (loss)	3
Balance at end of period (in shares) at Jun. 30, 2019		91,992						72
Balance at end of period at Jun. 30, 2019	$ 2,912	$ 0	$ 2,054	$ 563	$ (153)	$ 2,505	$ 407	$ 41

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared, price per share (in dollars per share)	$ 10	$ 10

Organization, Description of Bu

Organization, Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
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., together with its subsidiaries (“XPO,” “XPO Logistics” or the “Company”), is a top ten global provider of cutting-edge supply chain solutions to the most successful companies in the world. XPO uses its integrated network of people, technology and physical assets to help customers manage their goods most efficiently throughout their supply chains. The Company has two reportable segments: Transportation and Logistics. Within each segment, the Company has robust service offerings that are positioned to capitalize on fast-growing areas of customer demand . See Note 2 —Segment Reporting for further information on the Company’s operations. 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, 2018 (the “ 2018 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 2018 Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments that 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 full year results. Restricted Cash As of June 30, 2019 , and December 31, 2018 , the total amount of restricted cash included in Other long-term assets on the Condensed Consolidated Balance Sheets was $12 million , in both cases. Receivables Securitization and Factoring The Company uses trade accounts receivables securitization and factoring programs in the normal course of business to help manage its cash flows. The following table provides information related to the Company’s receivables securitization and factoring programs: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Securitization program Receivables sold $ 338 $ — $ 661 $ — Cash consideration 269 — 529 — Deferred purchase price 69 — 132 — Factoring programs Receivables sold 235 128 419 269 Cash consideration 234 128 417 269 In addition to the cash consideration referenced above, the Company received $66 million and $137 million , respectively, in the three and six months ended June 30, 2019 , for the realization of cash on a deferred purchase price receivable related to the securitization program. These amounts are reflected as cash collected on deferred purchase price receivable within Net cash used in investing activities . See Note 7 —Debt for additional information related to the Company’s receivables securitization borrowing program. 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 on certain market assumptions and information available to management. The carrying values of cash and cash equivalents, accounts receivable, deferred purchase price related to accounts receivables sold, accounts payable, accrued expenses and current maturities of long-term debt approximated their fair values as of June 30, 2019 and December 31, 2018 due to their short-term nature or because they were receivable or payable on demand. The Level 1 cash equivalents include money market funds valued using quoted prices in active markets. 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 6 —Derivative Instruments and Note 7 —Debt , respectively. The following table summarizes the fair value hierarchy of cash equivalents: (In millions) Carrying Value Fair Value Level 1 Level 2 June 30, 2019 $ 135 $ 135 $ 118 $ 17 December 31, 2018 237 237 236 1 Adoption of New Accounting Standards In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize on its Condensed Consolidated Balance Sheets the assets and liabilities that arise from leases, including operating leases. Under the new requirements, a lessee recognizes on the balance sheet the right-of-use asset, representing the right to use the underlying asset, and the lease liability, representing the present value of future lease payments. The Company utilized a comprehensive approach to assess the impact of Topic 842 on its financial statements and related disclosures. In particular, the Company completed a comprehensive review of its lease portfolio and enhanced its internal controls, including those related to the identification, measurement and disclosure of its lease portfolio. In addition, the Company implemented a new software solution to facilitate compliance with the new guidance. For further information on the Company’s leases, refer to Note 5 —Leases . Accounting Pronouncements Issued but Not Yet Effective In June 2016, the FASB issued ASU 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as modified by subsequently issued ASUs. The ASU amends the current incurred losses impairment method with a method that reflects expected credit losses on certain types of financial instruments, including trade receivables. The ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period; however, early adoption is permitted. While the Company is currently evaluating the impact of this standard on its consolidated financial statements, it believes it may impact the allowance for doubtful accounts on trade accounts receivable as credit losses may be recognized earlier under the expected loss model. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Under the guidance, any capitalized implementation costs would be included in prepaid expenses, amortized over the term of the hosting arrangement on a straight-line basis and presented in the same line items in the Consolidated Statement of Income as the expense for fees of the associated hosting arrangements. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period, however, early adoption is permitted. The Company does not expect the adoption of this standard to have a material effect on its consolidated financial statement s.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2019
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 movements of raw materials, parts and finished goods. The Company accomplishes this by using its proprietary technology, third-party independent carriers and Company-owned transportation assets and service centers. XPO’s transportation services include: freight brokerage, last mile, less-than-truckload (“LTL”), full truckload, global forwarding and managed transportation. Freight brokerage, last mile, global forwarding and managed transportation are non-asset or asset-light operations; LTL and full truckload are primarily asset-based operations. The Logistics segment, which the Company also refers to as supply chain, provides differentiated contract logistics services. These services are facilitated by the Company’s proprietary technology and include value-added warehousing and distribution, inventory management, omnichannel and e-commerce fulfillment, cold chain solutions, reverse logistics, packaging and labeling, factory support, aftermarket support and order personalization services. In addition, the Logistics segment provides highly engineered, customized solutions and supply chain optimization services, such as advanced automation and predictive volume 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 and are reflected as revenue 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 costs and credits include 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 and credits 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 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 its two reporting segments. The following table shows select financial data for the three and six months ended June 30, 2019 and 2018 : (In millions) Transportation Logistics Corporate Eliminations Total Three months ended June 30, 2019 Revenue $ 2,747 $ 1,526 $ — $ (35 ) $ 4,238 Operating income (loss) 243 61 (46 ) — 258 Depreciation and amortization 108 67 5 — 180 Three months ended June 30, 2018 Revenue $ 2,888 $ 1,508 $ — $ (33 ) $ 4,363 Operating income (loss) 205 67 (44 ) — 228 Depreciation and amortization 116 58 3 — 177 Six months ended June 30, 2019 Revenue $ 5,406 $ 3,020 $ — $ (68 ) $ 8,358 Operating income (loss) 371 107 (88 ) — 390 Depreciation and amortization 224 128 8 — 360 Six months ended June 30, 2018 Revenue $ 5,662 $ 2,956 $ — $ (63 ) $ 8,555 Operating income (loss) 344 115 (90 ) — 369 Depreciation and amortization 230 113 5 — 348

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenues The Company disaggregates its revenue by geographic area and service offering. The following tables present the Company’s revenue disaggregated by geographic area based on sales office location: Three Months Ended June 30, 2019 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 1,924 $ 570 $ (7 ) $ 2,487 North America (excluding United States) 73 15 — 88 France 351 172 (6 ) 517 United Kingdom 186 350 (18 ) 518 Europe (excluding France and United Kingdom) 207 397 (4 ) 600 Other 6 22 — 28 Total $ 2,747 $ 1,526 $ (35 ) $ 4,238 Three Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 2,046 $ 533 $ (5 ) $ 2,574 North America (excluding United States) 67 16 — 83 France 385 177 (5 ) 557 United Kingdom 181 357 (18 ) 520 Europe (excluding France and United Kingdom) 203 400 (5 ) 598 Other 6 25 — 31 Total $ 2,888 $ 1,508 $ (33 ) $ 4,363 Six Months Ended June 30, 2019 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 3,760 $ 1,127 $ (12 ) $ 4,875 North America (excluding United States) 140 33 — 173 France 715 341 (11 ) 1,045 United Kingdom 374 685 (36 ) 1,023 Europe (excluding France and United Kingdom) 408 789 (8 ) 1,189 Other 9 45 (1 ) 53 Total $ 5,406 $ 3,020 $ (68 ) $ 8,358 Six Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 4,000 $ 1,035 $ (10 ) $ 5,025 North America (excluding United States) 129 29 — 158 France 774 356 (9 ) 1,121 United Kingdom 351 696 (34 ) 1,013 Europe (excluding France and United Kingdom) 399 790 (9 ) 1,180 Other 9 50 (1 ) 58 Total $ 5,662 $ 2,956 $ (63 ) $ 8,555 The following table presents the Company’s revenue disaggregated by service offering: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Transportation segment: Freight brokerage and truckload $ 1,094 $ 1,211 $ 2,186 $ 2,390 LTL 1,261 1,247 2,440 2,420 Last mile (1) 212 269 436 507 Managed transportation 142 114 266 251 Global forwarding 78 85 155 167 Transportation eliminations (40 ) (38 ) (77 ) (73 ) Total Transportation segment revenue 2,747 2,888 5,406 5,662 Total Logistics segment revenue 1,526 1,508 3,020 2,956 Intersegment eliminations (35 ) (33 ) (68 ) (63 ) Total revenue $ 4,238 $ 4,363 $ 8,358 $ 8,555 (1) Comprised of the Company’s North American last mile operations. Transaction Price Allocated to Remaining Performance Obligation The Company’s remaining performance obligation represents the aggregate amount of transaction price yet to be recognized as of the end of the reporting period. As permitted in determining the remaining performance obligation, the Company omits obligations that either: (i) have original expected durations of one year or less, or (ii) contain variable consideration. On June 30, 2019 , the fixed consideration component of the Company’s remaining performance obligation was approximately $1.5 billion , of which the Company expects to recognize approximately 80% over the next three years and the remainder thereafter. The majority of the remaining performance obligation relates to the Logistics reportable segment. Remaining performance obligations are based on estimates made at a point in time and actual amounts may differ from these estimates due to changes in foreign currency exchange rates, contract revisions or terminations.

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges The Company engages in restructuring actions as part of its ongoing efforts to best utilize its resources and infrastructure. In 2019 , management approved restructuring plans that included severance and facility-related costs. A portion of the charge recorded under these plans related to the Company’s largest customer downsizing its business with the Company. The following table sets forth the restructuring-related activity: Six Months Ended June 30, 2019 (In millions) Reserve Balance as of December 31, 2018 Charges Incurred Payments Reserve Balance as of June 30, 2019 Severance: Transportation $ 9 $ 11 $ (15 ) $ 5 Logistics 5 2 (4 ) 3 Corporate 2 1 (2 ) 1 Total severance 16 14 (21 ) 9 Facilities: Transportation — 3 — 3 Total $ 16 $ 17 $ (21 ) $ 12 With respect to the $17 million charge taken in the first six months of 2019 , $3 million was recorded in Cost of transportation and services and $14 million was recorded in Sales, general and administrative expense in the Condensed Consolidated Statements of Income . The Company expects that the majority of the cash payments related to this charge will be made within 12 months.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases Adoption of Topic 842, “Leases” On January 1, 2019, the Company adopted Topic 842 prospectively through a cumulative-effect adjustment with no restatement of prior period financial statements. Upon adoption, the Company elected the package of practical expedients to retain the lease identification, classification and initial direct costs for existing leases. Additionally, the Company elected to not recognize on the Consolidated Balance Sheets any lease with an initial term of 12 months or less and to not separate lease and non-lease components within a contract. Adoption of this new standard as of January 1, 2019 resulted in the recognition of $2.1 billion of Operating lease assets and liabilities on the Condensed Consolidated Balance Sheets , as well as an increase to Retained earnings of $6 million related to a deferred gain from a prior sale-leaseback transaction. The adoption of Topic 842 did not have a material impact on the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Cash Flows . Nature of Leases Most of the Company’s leases are comprised of real estate leases. In addition, the Company leases trucks, trailers, containers and material handling equipment. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the estimated present value of the lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, incremental borrowing rates were used based on the Company’s outstanding debt to determine the present value of future lease payments. The Company includes options to extend or terminate a lease in the lease term when the Company is reasonably certain to exercise such options. The Company excludes variable lease payments (such as payments based on an index or reimbursements of lessor costs) from its initial measurement of lease liability. The components of lease expense and gain realized on sale-leaseback transactions were as follows: (In millions) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 178 $ 353 Short-term lease cost 31 77 Variable lease cost 18 36 Total operating lease cost $ 227 $ 466 Finance lease cost: Amortization of leased assets $ 14 $ 25 Interest on lease liabilities 1 3 Total finance lease cost $ 15 $ 28 Total lease cost $ 242 $ 494 Gain recognized on sale-leaseback transactions $ 17 $ 36 Supplemental balance sheet information related to leases was as follows: (In millions) June 30, 2019 Operating leases: Operating lease assets $ 2,074 Short-term operating lease liabilities 481 Operating lease liabilities 1,611 Total operating lease liabilities $ 2,092 Finance leases: Property and equipment, gross $ 413 Accumulated depreciation (111 ) Property and equipment, net $ 302 Short-term borrowings and current maturities of long-term debt 55 Long-term debt 232 Total finance lease liabilities $ 287 Weighted-average remaining lease term Operating leases 7 years Finance leases 6 years Weighted-average discount rate Operating leases 5.12 % Finance leases 2.53 % Supplemental cash flow information related to leases was as follows: (In millions) Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 347 Operating cash flows for finance leases 3 Financing cash flows for finance leases 30 Leased assets obtained in exchange for new lease obligations: Operating leases 327 Finance leases 30 Maturities of lease liabilities as of June 30, 2019 were as follows: (In millions) Finance Leases Operating Leases Remainder of 2019 $ 47 $ 275 2020 59 548 2021 58 429 2022 55 332 2023 45 253 Thereafter 42 648 Total lease payments $ 306 $ 2,485 Less: interest (19 ) (393 ) Present value of lease liabilities $ 287 $ 2,092 Disclosures Related to Topic 840 Future minimum lease payments with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2018 were as follows: (In millions) Capital Leases Operating Leases Year ending December 31: 2019 $ 61 $ 577 2020 60 460 2021 55 367 2022 52 288 2023 43 221 Thereafter 39 523 Total minimum lease payments $ 310 $ 2,436 Amount representing interest (21 ) Present value of minimum lease payments $ 289
Leases	Leases Adoption of Topic 842, “Leases” On January 1, 2019, the Company adopted Topic 842 prospectively through a cumulative-effect adjustment with no restatement of prior period financial statements. Upon adoption, the Company elected the package of practical expedients to retain the lease identification, classification and initial direct costs for existing leases. Additionally, the Company elected to not recognize on the Consolidated Balance Sheets any lease with an initial term of 12 months or less and to not separate lease and non-lease components within a contract. Adoption of this new standard as of January 1, 2019 resulted in the recognition of $2.1 billion of Operating lease assets and liabilities on the Condensed Consolidated Balance Sheets , as well as an increase to Retained earnings of $6 million related to a deferred gain from a prior sale-leaseback transaction. The adoption of Topic 842 did not have a material impact on the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Cash Flows . Nature of Leases Most of the Company’s leases are comprised of real estate leases. In addition, the Company leases trucks, trailers, containers and material handling equipment. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the estimated present value of the lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, incremental borrowing rates were used based on the Company’s outstanding debt to determine the present value of future lease payments. The Company includes options to extend or terminate a lease in the lease term when the Company is reasonably certain to exercise such options. The Company excludes variable lease payments (such as payments based on an index or reimbursements of lessor costs) from its initial measurement of lease liability. The components of lease expense and gain realized on sale-leaseback transactions were as follows: (In millions) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 178 $ 353 Short-term lease cost 31 77 Variable lease cost 18 36 Total operating lease cost $ 227 $ 466 Finance lease cost: Amortization of leased assets $ 14 $ 25 Interest on lease liabilities 1 3 Total finance lease cost $ 15 $ 28 Total lease cost $ 242 $ 494 Gain recognized on sale-leaseback transactions $ 17 $ 36 Supplemental balance sheet information related to leases was as follows: (In millions) June 30, 2019 Operating leases: Operating lease assets $ 2,074 Short-term operating lease liabilities 481 Operating lease liabilities 1,611 Total operating lease liabilities $ 2,092 Finance leases: Property and equipment, gross $ 413 Accumulated depreciation (111 ) Property and equipment, net $ 302 Short-term borrowings and current maturities of long-term debt 55 Long-term debt 232 Total finance lease liabilities $ 287 Weighted-average remaining lease term Operating leases 7 years Finance leases 6 years Weighted-average discount rate Operating leases 5.12 % Finance leases 2.53 % Supplemental cash flow information related to leases was as follows: (In millions) Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 347 Operating cash flows for finance leases 3 Financing cash flows for finance leases 30 Leased assets obtained in exchange for new lease obligations: Operating leases 327 Finance leases 30 Maturities of lease liabilities as of June 30, 2019 were as follows: (In millions) Finance Leases Operating Leases Remainder of 2019 $ 47 $ 275 2020 59 548 2021 58 429 2022 55 332 2023 45 253 Thereafter 42 648 Total lease payments $ 306 $ 2,485 Less: interest (19 ) (393 ) Present value of lease liabilities $ 287 $ 2,092 Disclosures Related to Topic 840 Future minimum lease payments with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2018 were as follows: (In millions) Capital Leases Operating Leases Year ending December 31: 2019 $ 61 $ 577 2020 60 460 2021 55 367 2022 52 288 2023 43 221 Thereafter 39 523 Total minimum lease payments $ 310 $ 2,436 Amount representing interest (21 ) Present value of minimum lease payments $ 289

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2019
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. Historically, the Company has not 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 and the related notional amounts and fair values: June 30, 2019 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 $ 1,261 Other long-term assets $ — Other long-term liabilities $ (47 ) Interest rate swap 2,003 Other current assets — Other current liabilities (12 ) Derivatives not designated as hedges: Foreign currency option contracts 500 Other current assets 2 Accrued expenses (5 ) Total $ 2 $ (64 ) December 31, 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 $ 1,270 Other long-term assets $ — Other long-term liabilities $ (81 ) Derivatives not designated as hedges: Foreign currency option contracts 473 Other current assets 7 Other current liabilities — Total $ 7 $ (81 ) 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 in the Condensed Consolidated Statements of Income are as follows: Amount of (Loss) Gain Recognized in Other Comprehensive Income on Derivative Amount of (Loss) 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) 2019 2018 2019 2018 2019 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ (1 ) $ 17 $ (3 ) $ 15 $ — $ — Interest rate swaps 5 (1 ) — — — — Derivatives designated as net investment hedges: Cross-currency swap agreements (7 ) 67 — — 3 2 Total $ (3 ) $ 83 $ (3 ) $ 15 $ 3 $ 2 Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives 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) 2019 2018 2019 2018 2019 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 5 $ 6 $ 2 $ 13 $ — $ — Interest rate swaps (1 ) (1 ) — — — — Derivatives designated as net investment hedges: Cross-currency swap agreements 28 20 — — 5 (1 ) Total $ 32 $ 25 $ 2 $ 13 $ 5 $ (1 ) The amounts excluded from effectiveness testing for the cross-currency swap agreements were $2 million and $3 million of loss in Accumulated other comprehensive loss (“ AOCI ”) for derivatives designated as cash flow hedges as of June 30, 2019 and 2018 , respectively; and $28 million and $37 million of loss in AOCI for derivatives designated as net investment hedges as of June 30, 2019 and 2018 , respectively. The pre-tax (loss) gain recognized in earnings for foreign currency option and forward contracts not designated as hedging instruments was losses of $8 million and $10 million for the three and six months ended June 30, 2019 , respectively; and gains of $16 million and $4 million for the three and six months ended June 30, 2018 , respectively. These amounts are recorded in Foreign currency loss (gain) in the Condensed Consolidated Statements of Income . Cross-Currency Swap Agreements The Company enters into cross-currency swap agreements that manage the foreign currency exchange risk related to the Company’s international operations by effectively converting its fixed-rate U.S. Dollar (“USD”)-denominated debt, including the associated 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 this debt. During the term of the swap contracts, the Company will receive interest payments, either on a quarterly or semi-annually basis, from the counterparties based on USD fixed interest rates, and the Company will make interest payments, also on a quarterly or semi-annual basis, 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. The Company applies 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. For net investment hedges that were de-designated prior to their maturity, the amounts in AOCI will remain in AOCI until the subsidiary is sold or substantially liquidated. Cash flows related to the periodic exchange of interest payments for these net investment hedges are included in Operating activities on the Condensed Consolidated Statements of Cash Flows . Additionally, the Company has cross-currency swap agreements accounted for as a cash flow hedge. This cash flow hedge was entered into to manage the related foreign currency exposure from intercompany loans. For the cash flow hedge, the Company reclassifies a portion of AOCI to Foreign currency loss (gain) 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. Cash flows related to this cash flow hedge are included in Financing activities on the Condensed Consolidated Statements of Cash Flows . Interest Rate Hedging In March 2019, the Company executed short-term interest rate swaps to mitigate variability in forecasted interest payments on the Company’s senior secured term loan credit agreement, as amended (the “ Term Loan Facility ”). The interest rate swaps convert floating-rate interest payments into fixed rate interest payments. The company designated the interest rate swaps as qualifying hedging instruments and accounted for these derivatives as cash flow hedges. The interest rate swaps mature on various dates within 2019. 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. 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 accrue. 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 risk of a reduction in the value of earnings from the Company’s operations that use the EUR or the British pound sterling as their functional currency, the Company uses foreign currency option contracts. Additionally, the Company uses foreign currency forward contracts to mitigate exposure from intercompany loans that are not designated as permanent and thus create volatility in earnings. These foreign currency contracts (both option and forward contracts) were not designated as qualifying hedging instruments as of June 30, 2019 . The contracts are not speculative; rather, they are used to economically hedge the Company’s exposure to exchange rate fluctuations. The contracts expire in 12 months or less. Gains or losses on the contracts are recorded in Foreign currency loss (gain) in the Condensed Consolidated Statements of Income . In the third quarter of 2018, the Company changed its policy related to the cash flow presentation of foreign currency option contracts, as the Company believes cash receipts and payments related to economic hedges should be classified based on the nature and purpose for which these derivatives were acquired and, given that the Company did not elect to apply hedge accounting to these derivatives, the Company believes it is preferable to reflect these cash flows as Investing activities . Prior to this change, these cash flows were reflected within Operating activities . Net cash provided by operating activities for the six months ended June 30, 2018 included $13 million of cash usage related to these foreign currency option contracts.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the Company’s debt: June 30, 2019 December 31, 2018 (In millions) Principal Balance Carrying Value Principal Balance Carrying Value ABL facility $ — $ — $ — $ — Term loan facility 2,003 1,966 1,503 1,474 6.125% Senior notes due 2023 535 530 535 529 6.50% Senior notes due 2022 1,200 1,191 1,200 1,190 6.70% Senior debentures due 2034 300 206 300 205 6.75% Senior notes due 2024 1,000 986 — — Trade securitization program 261 259 283 281 Unsecured credit facility — — 250 246 Finance leases 287 287 289 289 Asset financing and other 48 49 55 55 Total debt 5,634 5,474 4,415 4,269 Short-term borrowings and current maturities of long-term debt 340 340 371 367 Long-term debt $ 5,294 $ 5,134 $ 4,044 $ 3,902 The following table summarizes the fair value of the Company’s debt: (In millions) Fair Value Level 1 Level 2 June 30, 2019 $ 5,718 $ 3,145 $ 2,573 December 31, 2018 4,305 2,020 2,285 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 as the debt: (i) is primarily issued at a floating rate; (ii) may be prepaid at any time at par without penalty; and (iii) the remaining life of the debt is short-term in nature. ABL Facility In April 2019, the Company entered into Amendment No. 3 (the “ Amendment ”) to the Second Amended and Restated Revolving Loan Credit Agreement (the “ ABL Facility ”), by and among the Company , certain subsidiaries signatory thereto, the lenders party thereto and Morgan Stanley Senior Funding, Inc., in its capacity as agent. The Amendment amends the ABL Facility to, among other things: (i) extend the maturity date thereof to April 30, 2024 (subject, in certain circumstances, to a springing maturity if more than $200 million of the Company’s 6.50% senior notes due 2022 , 6.125% senior notes due 2023 or certain refinancings thereof remain outstanding 91 days prior to their respective maturity); (ii) increase the aggregate principal amount of the commitments thereunder to $1.1 billion ; (iii) reduce the interest rate margin and commitment fees thereunder; and (iv) make certain other changes to the covenants and other provisions therein. Loans under the ABL Facility are secured on a first lien basis by the assets of the credit parties which constitute ABL Priority Collateral (as defined therein), and on a second lien basis by certain other assets. Loans under the ABL Facility will bear interest at a rate equal to London Interbank Offered Rate (“LIBOR”) or base rate plus an applicable margin of 1.25% to 1.50% , in the case of LIBOR loans, and 0.25% to 0.50% , in the case of base rate loans. As of June 30, 2019 , the Company had a borrowing base of $1,046 million and availability under the ABL Facility of $838 million after considering outstanding letters of credit on the ABL Facility of $208 million . As of June 30, 2019 , the Company was in compliance with the ABL Facility ’s financial covenants. Term Loan Facility 2019 Amendments In March 2019, the Company entered into Amendment No. 4 to Credit Agreement (the “Fourth Amendment”), which permits the Company to incur up to $500 million of incremental term loans under the existing credit agreement on or prior to June 5, 2019 without adjusting the interest rate margin applicable to existing loans outstanding, as long as the yield on the incremental term loan does not exceed the yield on the existing loans by 0.75% . Also in March 2019, the Company entered into an Incremental Amendment (Amendment No. 5 to Credit Agreement) (the “ Fifth Amendment ”), by and among the Company , its subsidiaries signatory thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., in its capacity as administrative agent, amending the Senior Secured Term Loan Credit Agreement dated as of October 30, 2015 (as previously amended, amended and restated, supplemented or otherwise modified, the “ Term Loan Credit Agreement ”). Pursuant to the Fifth Amendment , the Company borrowed an additional $500 million of incremental loans under a new tranche of term loans (the “ Incremental Term Loan Facility ”). The terms of the loans under the Incremental Term Loan Facility are substantially similar to the terms relating to the loans outstanding under the Term Loan Credit Agreement prior to giving effect to the amendment, except with respect to issue price, the interest rate applicable to the Company’s borrowings under the Incremental Term Loan Facility , prepayment premiums in connection with certain voluntary prepayments thereof, and certain other provisions. The interest rate margin applicable to the Incremental Term Loan Facility is 1.50% , in the case of base rate loans, and 2.50% , in the case of LIBOR loans. Proceeds from borrowings under the Incremental Term Loan Facility will be used: (i) for general corporate purposes, including to fund purchases of equity interests of the Company described in Note 8 —Stockholders’ Equity ; and (ii) to pay fees and expenses relating to, or in connection with, the transactions contemplated by the amendment. The incremental loans under the Incremental Term Loan Facility were issued at a price of 99.50% of par. The interest rates on the Term Loan Facility and the Incremental Term Loan Facility were 4.40% and 4.88% , respectively, as of June 30, 2019 . 2018 Amendments In February 2018, the Company amended the Term Loan Facility , which reduced the interest rate under the facility and extended the maturity date to February 23, 2025 . The refinancing resulted in a debt extinguishment charge of $10 million in the first quarter of 2018. Senior Notes due 2024 In February 2019, the Company completed its private placement of $1.0 billion aggregate principal amount of senior notes (“ Senior Notes due 2024 ”). The Senior Notes due 2024 bear interest at a rate of 6.75% per annum, payable semiannually in cash in arrears, commencing August 15, 2019. The Senior Notes due 2024 will mature on August 15, 2024. The Senior Notes due 2024 are guaranteed by each of the Company’s direct and indirect wholly owned restricted subsidiaries (other than certain excluded subsidiaries) that guarantees or is or becomes a borrower under the Company’s ABL Facility or existing secured term loan facility (or certain replacements thereof) or that guarantees certain capital markets indebtedness of the Company or any guarantor of the Senior Notes due 2024 . The Senior Notes due 2024 and the guarantees thereof are unsecured, unsubordinated indebtedness of the Company and the guarantors. Proceeds from the Senior Notes due 2024 were used to repay the Company’s outstanding obligation under the Unsecured Credit Facility described below and to finance a portion of its share repurchases described in Note 8 —Stockholders’ Equity . 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. The aggregate maximum amount available under the program is €350 million (approximately $398 million as of June 30, 2019 ). As of June 30, 2019 , the remaining borrowing capacity, which considers receivables that are collateral and receivables that have been sold, was €24 million ( approximately $27 million ) and the weighted-average interest rate was 1.10% . Charges for administrative fees and commitment fees, the latter of which is based on a percentage of the unused amounts available, were not material to the Company’s results of operations for the six months ended June 30, 2019 and 2018 . In July 2019, XPO Logistics Europe terminated the above described trade receivables securitization program and entered into a new trade receivables securitization program for a term of three years co-arranged by Crédit Agricole, BNP Paribas and HSBC. Under the terms of the new program, a wholly-owned bankruptcy remote special purpose entity of XPO Logistics Europe incorporated in Ireland will sell the trade receivables originated by the wholly-owned subsidiaries of XPO Logistics Europe in the United Kingdom and France to unaffiliated entities being managed by Crédit Agricole, BNP Paribas and HSBC. Under this new program, the maximum amount of net cash proceeds that will be available at any one time will be €400 million (approximately $450 million as of July 1, 2019 ). In this new program, there will be no deferred purchase price mechanism which had existed in the prior program. Unsecured Credit Facility In December 2018, the Company entered into a $500 million unsecured credit agreement (“ Unsecured Credit Agreement ”) with Citibank, N.A., with a maturity date of December 23, 2019. As of December 31, 2018, the Company had borrowed $250 million under the Unsecured Credit Agreement and made a second borrowing of $250 million in January 2019. The proceeds of both borrowings were used to finance a portion of its share repurchases described in Note 8 —Stockholders’ Equity . In connection with the issuance of the Senior Notes due 2024 described above, the Company repaid its outstanding obligations under the Unsecured Credit Agreement and terminated the facility in February 2019.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders ’ Equity Share Repurchases On December 14, 2018, the Company’s Board of Directors authorized the repurchase of up to $1 billion of the Company’s common stock (the “2018 Repurchase Program”). Through December 31, 2018, based on the settlement date, the Company purchased and retired 10 million shares of its common stock having an aggregate value of $536 million at an average price of $53.46 per share. In the first quarter of 2019, based on the settlement date, the Company purchased and retired 8 million shares of its common stock having an aggregate value of $464 million at an average price of $59.47 per share, which completed the 2018 Repurchase Program. The share purchases were funded by the Unsecured Credit Facility and available cash. On February 13, 2019, the Company’s Board of Directors authorized additional repurchases of up to $1.5 billion of the Company’s common stock (the “2019 Repurchase Program”). The authorization permits the Company to purchase shares in both open market and private transactions, with the timing and number of shares dependent on a variety of factors, including price, general business conditions, market conditions, alternative investment opportunities and funding considerations. In the second quarter of 2019 , based on the settlement date, the Company purchased and retired 2 million shares of its common stock having an aggregate value of $120 million at an average price of $56.78 per share under the 2019 Repurchase Program. In the first six months of 2019 , based on the settlement date, the Company purchased and retired 17 million shares of its common stock having an aggregate value of $883 million at an average price of $50.70 per share, under the 2019 Repurchase Program. The share purchases were funded by available cash and proceeds from new debt offerings. As of June 30, 2019 , $617 million remained available to be used for share purchases under the 2019 Repurchase Program. However, the Company is not obligated to repurchase any specific number of shares and may suspend or discontinue the program at any time. Dividends The Series A Convertible Perpetual Preferred Stock pays quarterly cash dividends equal to the greater of: (i) the “as-converted” dividends on the underlying Company common stock for the relevant quarter; and (ii) 4% of the then-applicable liquidation preference per annum.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
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. The computations of basic and diluted earnings per share are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2019 2018 2019 2018 Basic earnings per common share Net income attributable to XPO $ 135 $ 149 $ 182 $ 222 Series A preferred stock dividends — — (1 ) (1 ) Non-cash allocation of undistributed earnings (13 ) (11 ) (16 ) (16 ) Net income attributable to common shares, basic $ 122 $ 138 $ 165 $ 205 Basic weighted-average common shares 92 121 100 120 Basic earnings per share $ 1.32 $ 1.14 $ 1.66 $ 1.70 Diluted earnings per common share Net income attributable to common shares, diluted $ 122 $ 138 $ 165 $ 205 Basic weighted-average common shares 92 121 100 120 Dilutive effect of non-participating stock-based awards and equity forward 10 13 10 14 Diluted weighted-average common shares 102 134 110 134 Diluted earnings per share $ 1.19 $ 1.03 $ 1.51 $ 1.53 Potential common shares excluded 10 10 10 10 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, 2019
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 determination as to whether a loss can reasonably be considered to be 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. Decisions were rendered in June 2015 by a DLSE hearing officer with respect to claims of five plaintiffs, resulting in awards in an aggregate amount of approximately $1 million , following which the Company appealed the decisions in the U.S. District Court for the Central District of California (“Central District Court”). On May 16, 2017, the Central District Court issued judgment finding that the five claimants were employees rather than independent contractors and awarding an aggregate of approximately $1 million plus post-judgment interest and attorneys’ fees to the claimants. The Company appealed this judgment, but on February 20, 2019, the United States Court of Appeals for the Ninth Circuit declined to consider the appeal on technical grounds. 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 $1 million , which the Company has appealed to the California Superior Court, Long Beach. The remaining DLSE claims (the “Pending DLSE Claims”) were transferred to California Superior Court in three separate actions involving approximately 170 claimants, including the claimants mentioned above who originally filed claims in 2012. The Company has reached an agreement to settle the majority of the Pending DLSE Claims, the settlement payment has been made, and the settled claims have been dismissed. In addition, certain of the Company’s intermodal drayage subsidiaries are party to putative class action litigations and other administrative claims in California brought by independent contract carriers who contracted with these subsidiaries. In these litigations, 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 these litigations, the contract carriers, and in some cases the contract carriers’ employees, 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. (“Carter”) , filed in March 2016; Ramon Garcia v. Macy’s and XPO Logistics Inc. (“Garcia”) , filed in July 2016; Kevin Kramer v. XPO Logistics Inc. (“Kramer”) , filed in September 2016; and Hector Ibanez v. XPO Last Mile, Inc. (“Ibanez”) , filed in May 2017. The Company has reached agreements to settle the Carter, Garcia, Kramer and Ibanez matters and has accrued the full amount of the settlements. The settlements will require court approval. With respect to other pending claims, the Company believes that it has adequately accrued for the potential impact of loss contingencies 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. Shareholder Litigation On December 14, 2018, two putative class actions were filed in the U.S. District Court for the District of Connecticut and the U.S. District Court for the Southern District of New York against the Company and certain of its current and former executives, alleging violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, as well as Section 20(a) of the Exchange Act, based on alleged material misstatements and omissions in the Company’s public filings with the U.S. Securities and Exchange Commission. On January 7, 2019, the plaintiff in one of the class actions, Leeman v. XPO Logistics, Inc. et al. , No. 1:18-cv-11741 (S.D.N.Y.), voluntarily dismissed the action without prejudice. In the other putative class action, Labul v. XPO Logistics, Inc. et al. , No. 3:18-cv-02062 (D. Conn.), which is pending in the U.S. District Court for the District of Connecticut, on April 2, 2019, the court appointed Local 817 IBT Pension Fund, Local 272 Labor-Management Pension Fund, and Local 282 Pension Trust Fund and Local 282 Welfare Trust Fund (together, the “Pension Funds”) as lead plaintiffs. On June 3, 2019, the Pension Funds, with additional plaintiff Norfolk County Retirement System, filed a consolidated class action complaint against the Company and certain of its current and former executives, alleging violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Section 20(a) of the Exchange Act, and Sections 11 and 15 of the Securities Act, based on alleged material misstatements and omissions in the Company’s public filings with the U.S. Securities and Exchange Commission. Defendants’ motions to dismiss are due on August 2, 2019. In addition, on May 13, 2019, Adriana Jez filed a purported shareholder derivative action captioned Jez v. Jacobs, et al. , No. 19-cv-889-RGA (D. Del.), in the U.S. District Court for the District of Delaware, alleging breaches of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of the Exchange Act against certain current and former directors and officers of the Company, with the Company as a nominal defendant. On May 24, 2019, Erin Candler filed a purported shareholder derivative action with substantially similar claims and allegations against the same parties, captioned Candler v. Jacobs, et al. , No. 19-cv-959-CFC (D. Del.), also in the U.S. District Court for the District of Delaware. On June 14, 2019, the two actions were consolidated for all purposes. The Company believes these suits are without merit and intends to defend itself vigorously against the allegations. The Company is unable at this time to determine the amount of the possible loss or range of loss, if any, that it may incur as a result of these matters.

Organization, Description of _2

Organization, Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 on certain market assumptions and information available to management. The carrying values of cash and cash equivalents, accounts receivable, deferred purchase price related to accounts receivables sold, accounts payable, accrued expenses and current maturities of long-term debt approximated their fair values as of June 30, 2019 and December 31, 2018 due to their short-term nature or because they were receivable or payable on demand. The Level 1 cash equivalents include money market funds valued using quoted prices in active markets. 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 February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize on its Condensed Consolidated Balance Sheets the assets and liabilities that arise from leases, including operating leases. Under the new requirements, a lessee recognizes on the balance sheet the right-of-use asset, representing the right to use the underlying asset, and the lease liability, representing the present value of future lease payments. The Company utilized a comprehensive approach to assess the impact of Topic 842 on its financial statements and related disclosures. In particular, the Company completed a comprehensive review of its lease portfolio and enhanced its internal controls, including those related to the identification, measurement and disclosure of its lease portfolio. In addition, the Company implemented a new software solution to facilitate compliance with the new guidance. For further information on the Company’s leases, refer to Note 5 —Leases . Accounting Pronouncements Issued but Not Yet Effective In June 2016, the FASB issued ASU 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as modified by subsequently issued ASUs. The ASU amends the current incurred losses impairment method with a method that reflects expected credit losses on certain types of financial instruments, including trade receivables. The ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period; however, early adoption is permitted. While the Company is currently evaluating the impact of this standard on its consolidated financial statements, it believes it may impact the allowance for doubtful accounts on trade accounts receivable as credit losses may be recognized earlier under the expected loss model. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Under the guidance, any capitalized implementation costs would be included in prepaid expenses, amortized over the term of the hosting arrangement on a straight-line basis and presented in the same line items in the Consolidated Statement of Income as the expense for fees of the associated hosting arrangements. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period, however, early adoption is permitted. The Company does not expect the adoption of this standard to have a material effect on its consolidated financial statement s.
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 movements of raw materials, parts and finished goods. The Company accomplishes this by using its proprietary technology, third-party independent carriers and Company-owned transportation assets and service centers. XPO’s transportation services include: freight brokerage, last mile, less-than-truckload (“LTL”), full truckload, global forwarding and managed transportation. Freight brokerage, last mile, global forwarding and managed transportation are non-asset or asset-light operations; LTL and full truckload are primarily asset-based operations. The Logistics segment, which the Company also refers to as supply chain, provides differentiated contract logistics services. These services are facilitated by the Company’s proprietary technology and include value-added warehousing and distribution, inventory management, omnichannel and e-commerce fulfillment, cold chain solutions, reverse logistics, packaging and labeling, factory support, aftermarket support and order personalization services. In addition, the Logistics segment provides highly engineered, customized solutions and supply chain optimization services, such as advanced automation and predictive volume 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 and are reflected as revenue 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 costs and credits include 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 and credits 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 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’s remaining performance obligation represents the aggregate amount of transaction price yet to be recognized as of the end of the reporting period. As permitted in determining the remaining performance obligation, the Company omits obligations that either: (i) have original expected durations of one year or less, or (ii) contain variable consideration. On June 30, 2019 , the fixed consideration component of the Company’s remaining performance obligation was approximately $1.5 billion , of which the Company expects to recognize approximately 80% over the next three years and the remainder thereafter. The majority of the remaining performance obligation relates to the Logistics reportable segment. Remaining performance obligations are based on estimates made at a point in time and actual amounts may differ from these estimates due to changes in foreign currency exchange rates, contract revisions or terminations.
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 _3

Organization, Description of Business and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable Securitization and Factoring Programs	The following table provides information related to the Company’s receivables securitization and factoring programs: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Securitization program Receivables sold $ 338 $ — $ 661 $ — Cash consideration 269 — 529 — Deferred purchase price 69 — 132 — Factoring programs Receivables sold 235 128 419 269 Cash consideration 234 128 417 269
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: (In millions) Carrying Value Fair Value Level 1 Level 2 June 30, 2019 $ 135 $ 135 $ 118 $ 17 December 31, 2018 237 237 236 1 The following table summarizes the fair value of the Company’s debt: (In millions) Fair Value Level 1 Level 2 June 30, 2019 $ 5,718 $ 3,145 $ 2,573 December 31, 2018 4,305 2,020 2,285

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Selected Financial Data for Each Operating Segment	The following table shows select financial data for the three and six months ended June 30, 2019 and 2018 : (In millions) Transportation Logistics Corporate Eliminations Total Three months ended June 30, 2019 Revenue $ 2,747 $ 1,526 $ — $ (35 ) $ 4,238 Operating income (loss) 243 61 (46 ) — 258 Depreciation and amortization 108 67 5 — 180 Three months ended June 30, 2018 Revenue $ 2,888 $ 1,508 $ — $ (33 ) $ 4,363 Operating income (loss) 205 67 (44 ) — 228 Depreciation and amortization 116 58 3 — 177 Six months ended June 30, 2019 Revenue $ 5,406 $ 3,020 $ — $ (68 ) $ 8,358 Operating income (loss) 371 107 (88 ) — 390 Depreciation and amortization 224 128 8 — 360 Six months ended June 30, 2018 Revenue $ 5,662 $ 2,956 $ — $ (63 ) $ 8,555 Operating income (loss) 344 115 (90 ) — 369 Depreciation and amortization 230 113 5 — 348

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenues	The following tables present the Company’s revenue disaggregated by geographic area based on sales office location: Three Months Ended June 30, 2019 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 1,924 $ 570 $ (7 ) $ 2,487 North America (excluding United States) 73 15 — 88 France 351 172 (6 ) 517 United Kingdom 186 350 (18 ) 518 Europe (excluding France and United Kingdom) 207 397 (4 ) 600 Other 6 22 — 28 Total $ 2,747 $ 1,526 $ (35 ) $ 4,238 Three Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 2,046 $ 533 $ (5 ) $ 2,574 North America (excluding United States) 67 16 — 83 France 385 177 (5 ) 557 United Kingdom 181 357 (18 ) 520 Europe (excluding France and United Kingdom) 203 400 (5 ) 598 Other 6 25 — 31 Total $ 2,888 $ 1,508 $ (33 ) $ 4,363 Six Months Ended June 30, 2019 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 3,760 $ 1,127 $ (12 ) $ 4,875 North America (excluding United States) 140 33 — 173 France 715 341 (11 ) 1,045 United Kingdom 374 685 (36 ) 1,023 Europe (excluding France and United Kingdom) 408 789 (8 ) 1,189 Other 9 45 (1 ) 53 Total $ 5,406 $ 3,020 $ (68 ) $ 8,358 Six Months Ended June 30, 2018 (In millions) Transportation Logistics Eliminations Total Revenue United States $ 4,000 $ 1,035 $ (10 ) $ 5,025 North America (excluding United States) 129 29 — 158 France 774 356 (9 ) 1,121 United Kingdom 351 696 (34 ) 1,013 Europe (excluding France and United Kingdom) 399 790 (9 ) 1,180 Other 9 50 (1 ) 58 Total $ 5,662 $ 2,956 $ (63 ) $ 8,555 The following table presents the Company’s revenue disaggregated by service offering: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Transportation segment: Freight brokerage and truckload $ 1,094 $ 1,211 $ 2,186 $ 2,390 LTL 1,261 1,247 2,440 2,420 Last mile (1) 212 269 436 507 Managed transportation 142 114 266 251 Global forwarding 78 85 155 167 Transportation eliminations (40 ) (38 ) (77 ) (73 ) Total Transportation segment revenue 2,747 2,888 5,406 5,662 Total Logistics segment revenue 1,526 1,508 3,020 2,956 Intersegment eliminations (35 ) (33 ) (68 ) (63 ) Total revenue $ 4,238 $ 4,363 $ 8,358 $ 8,555 (1) Comprised of the Company’s North American last mile operations.

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Related Activity	The following table sets forth the restructuring-related activity: Six Months Ended June 30, 2019 (In millions) Reserve Balance as of December 31, 2018 Charges Incurred Payments Reserve Balance as of June 30, 2019 Severance: Transportation $ 9 $ 11 $ (15 ) $ 5 Logistics 5 2 (4 ) 3 Corporate 2 1 (2 ) 1 Total severance 16 14 (21 ) 9 Facilities: Transportation — 3 — 3 Total $ 16 $ 17 $ (21 ) $ 12

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Components of Lease Expense and Gain Realized on Sales Leaseback Transactions	The components of lease expense and gain realized on sale-leaseback transactions were as follows: (In millions) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 178 $ 353 Short-term lease cost 31 77 Variable lease cost 18 36 Total operating lease cost $ 227 $ 466 Finance lease cost: Amortization of leased assets $ 14 $ 25 Interest on lease liabilities 1 3 Total finance lease cost $ 15 $ 28 Total lease cost $ 242 $ 494 Gain recognized on sale-leaseback transactions $ 17 $ 36 Supplemental cash flow information related to leases was as follows: (In millions) Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 347 Operating cash flows for finance leases 3 Financing cash flows for finance leases 30 Leased assets obtained in exchange for new lease obligations: Operating leases 327 Finance leases 30
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: (In millions) June 30, 2019 Operating leases: Operating lease assets $ 2,074 Short-term operating lease liabilities 481 Operating lease liabilities 1,611 Total operating lease liabilities $ 2,092 Finance leases: Property and equipment, gross $ 413 Accumulated depreciation (111 ) Property and equipment, net $ 302 Short-term borrowings and current maturities of long-term debt 55 Long-term debt 232 Total finance lease liabilities $ 287 Weighted-average remaining lease term Operating leases 7 years Finance leases 6 years Weighted-average discount rate Operating leases 5.12 % Finance leases 2.53 %
Schedule of Maturities of Finance Lease Liabilities	Maturities of lease liabilities as of June 30, 2019 were as follows: (In millions) Finance Leases Operating Leases Remainder of 2019 $ 47 $ 275 2020 59 548 2021 58 429 2022 55 332 2023 45 253 Thereafter 42 648 Total lease payments $ 306 $ 2,485 Less: interest (19 ) (393 ) Present value of lease liabilities $ 287 $ 2,092
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities as of June 30, 2019 were as follows: (In millions) Finance Leases Operating Leases Remainder of 2019 $ 47 $ 275 2020 59 548 2021 58 429 2022 55 332 2023 45 253 Thereafter 42 648 Total lease payments $ 306 $ 2,485 Less: interest (19 ) (393 ) Present value of lease liabilities $ 287 $ 2,092
Schedule of Future Minimum Lease Payments for Capital Leases	Future minimum lease payments with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2018 were as follows: (In millions) Capital Leases Operating Leases Year ending December 31: 2019 $ 61 $ 577 2020 60 460 2021 55 367 2022 52 288 2023 43 221 Thereafter 39 523 Total minimum lease payments $ 310 $ 2,436 Amount representing interest (21 ) Present value of minimum lease payments $ 289
Schedule of Future Minimum Lease Payments for Operating Leases	Future minimum lease payments with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2018 were as follows: (In millions) Capital Leases Operating Leases Year ending December 31: 2019 $ 61 $ 577 2020 60 460 2021 55 367 2022 52 288 2023 43 221 Thereafter 39 523 Total minimum lease payments $ 310 $ 2,436 Amount representing interest (21 ) Present value of minimum lease payments $ 289

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
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 and the related notional amounts and fair values: June 30, 2019 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 $ 1,261 Other long-term assets $ — Other long-term liabilities $ (47 ) Interest rate swap 2,003 Other current assets — Other current liabilities (12 ) Derivatives not designated as hedges: Foreign currency option contracts 500 Other current assets 2 Accrued expenses (5 ) Total $ 2 $ (64 ) December 31, 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 $ 1,270 Other long-term assets $ — Other long-term liabilities $ (81 ) Derivatives not designated as hedges: Foreign currency option contracts 473 Other current assets 7 Other current liabilities — Total $ 7 $ (81 )
Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments	The effect of derivative instruments designated as hedges in the Condensed Consolidated Statements of Income are as follows: Amount of (Loss) Gain Recognized in Other Comprehensive Income on Derivative Amount of (Loss) 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) 2019 2018 2019 2018 2019 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ (1 ) $ 17 $ (3 ) $ 15 $ — $ — Interest rate swaps 5 (1 ) — — — — Derivatives designated as net investment hedges: Cross-currency swap agreements (7 ) 67 — — 3 2 Total $ (3 ) $ 83 $ (3 ) $ 15 $ 3 $ 2 Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives 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) 2019 2018 2019 2018 2019 2018 Derivatives designated as cash flow hedges: Cross-currency swap agreements $ 5 $ 6 $ 2 $ 13 $ — $ — Interest rate swaps (1 ) (1 ) — — — — Derivatives designated as net investment hedges: Cross-currency swap agreements 28 20 — — 5 (1 ) Total $ 32 $ 25 $ 2 $ 13 $ 5 $ (1 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the Company’s debt: June 30, 2019 December 31, 2018 (In millions) Principal Balance Carrying Value Principal Balance Carrying Value ABL facility $ — $ — $ — $ — Term loan facility 2,003 1,966 1,503 1,474 6.125% Senior notes due 2023 535 530 535 529 6.50% Senior notes due 2022 1,200 1,191 1,200 1,190 6.70% Senior debentures due 2034 300 206 300 205 6.75% Senior notes due 2024 1,000 986 — — Trade securitization program 261 259 283 281 Unsecured credit facility — — 250 246 Finance leases 287 287 289 289 Asset financing and other 48 49 55 55 Total debt 5,634 5,474 4,415 4,269 Short-term borrowings and current maturities of long-term debt 340 340 371 367 Long-term debt $ 5,294 $ 5,134 $ 4,044 $ 3,902
Schedule of Fair Value of Debt	The following table summarizes the fair value hierarchy of cash equivalents: (In millions) Carrying Value Fair Value Level 1 Level 2 June 30, 2019 $ 135 $ 135 $ 118 $ 17 December 31, 2018 237 237 236 1 The following table summarizes the fair value of the Company’s debt: (In millions) Fair Value Level 1 Level 2 June 30, 2019 $ 5,718 $ 3,145 $ 2,573 December 31, 2018 4,305 2,020 2,285

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In periods of loss, no allocation is made to the preferred shares. The computations of basic and diluted earnings per share are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2019 2018 2019 2018 Basic earnings per common share Net income attributable to XPO $ 135 $ 149 $ 182 $ 222 Series A preferred stock dividends — — (1 ) (1 ) Non-cash allocation of undistributed earnings (13 ) (11 ) (16 ) (16 ) Net income attributable to common shares, basic $ 122 $ 138 $ 165 $ 205 Basic weighted-average common shares 92 121 100 120 Basic earnings per share $ 1.32 $ 1.14 $ 1.66 $ 1.70 Diluted earnings per common share Net income attributable to common shares, diluted $ 122 $ 138 $ 165 $ 205 Basic weighted-average common shares 92 121 100 120 Dilutive effect of non-participating stock-based awards and equity forward 10 13 10 14 Diluted weighted-average common shares 102 134 110 134 Diluted earnings per share $ 1.19 $ 1.03 $ 1.51 $ 1.53 Potential common shares excluded 10 10 10 10

Organization, Description of _4

Organization, Description of Business and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment		2
Realization of cash on deferred purchase price receivable	$ 66	$ 137	$ 0
Other long-term assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash included in other long-term assets	$ 12	$ 12		$ 12

Organization, Description of _5

Organization, Description of Business and Basis of Presentation - Schedule of Accounts Receivable Securitization and Factoring Programs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Securitization program
Receivables sold	$ 338	$ 0	$ 661	$ 0
Cash consideration	269	0	529	0
Deferred purchase price	69	0	132	0
Factoring programs
Receivables sold	235	128	419	269
Cash consideration	$ 234	$ 128	$ 417	$ 269

Organization, Description of _6

Organization, Description of Business and Basis of Presentation - Schedule of Financial Instruments Within the Fair Value Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 135	$ 237
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	135	237
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	118	236
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 17	$ 1

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2019segment
Segment Reporting [Abstract]
Number of reportable 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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 4,238	$ 4,363	$ 8,358	$ 8,555
Operating income (loss)	258	228	390	369
Depreciation and amortization	180	177	360	348
Operating Segments | Transportation
Segment Reporting Information [Line Items]
Revenue	2,747	2,888	5,406	5,662
Operating income (loss)	243	205	371	344
Depreciation and amortization	108	116	224	230
Operating Segments | Logistics
Segment Reporting Information [Line Items]
Revenue	1,526	1,508	3,020	2,956
Operating income (loss)	61	67	107	115
Depreciation and amortization	67	58	128	113
Corporate
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating income (loss)	(46)	(44)	(88)	(90)
Depreciation and amortization	5	3	8	5
Eliminations
Segment Reporting Information [Line Items]
Revenue	(35)	(33)	(68)	(63)
Operating income (loss)	0	0	0	0
Depreciation and amortization	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Geographical Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 4,238	$ 4,363	$ 8,358	$ 8,555
United States
Disaggregation of Revenue [Line Items]
Revenue	2,487	2,574	4,875	5,025
North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	88	83	173	158
France
Disaggregation of Revenue [Line Items]
Revenue	517	557	1,045	1,121
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	518	520	1,023	1,013
Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	600	598	1,189	1,180
Other
Disaggregation of Revenue [Line Items]
Revenue	28	31	53	58
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(35)	(33)	(68)	(63)
Eliminations | United States
Disaggregation of Revenue [Line Items]
Revenue	(7)	(5)	(12)	(10)
Eliminations | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Eliminations | France
Disaggregation of Revenue [Line Items]
Revenue	(6)	(5)	(11)	(9)
Eliminations | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	(18)	(18)	(36)	(34)
Eliminations | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	(4)	(5)	(8)	(9)
Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	(1)	(1)
Transportation
Disaggregation of Revenue [Line Items]
Revenue	2,747	2,888	5,406	5,662
Transportation | United States
Disaggregation of Revenue [Line Items]
Revenue	1,924	2,046	3,760	4,000
Transportation | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	73	67	140	129
Transportation | France
Disaggregation of Revenue [Line Items]
Revenue	351	385	715	774
Transportation | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	186	181	374	351
Transportation | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	207	203	408	399
Transportation | Other
Disaggregation of Revenue [Line Items]
Revenue	6	6	9	9
Transportation | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(40)	(38)	(77)	(73)
Logistics
Disaggregation of Revenue [Line Items]
Revenue	1,526	1,508	3,020	2,956
Logistics | United States
Disaggregation of Revenue [Line Items]
Revenue	570	533	1,127	1,035
Logistics | North America (excluding United States)
Disaggregation of Revenue [Line Items]
Revenue	15	16	33	29
Logistics | France
Disaggregation of Revenue [Line Items]
Revenue	172	177	341	356
Logistics | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	350	357	685	696
Logistics | Europe (excluding France and United Kingdom)
Disaggregation of Revenue [Line Items]
Revenue	397	400	789	790
Logistics | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 22	$ 25	$ 45	$ 50

Revenue Recognition - Disaggr_2

Revenue Recognition - Disaggregation of Revenue by Products and Services (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	$ 4,238	$ 4,363	$ 8,358	$ 8,555
Total revenue	4,238	4,363	8,358	8,555
Eliminations
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	(35)	(33)	(68)	(63)
Total revenue	(35)	(33)	(68)	(63)
Transportation
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	2,747	2,888	5,406	5,662
Transportation | Freight brokerage and truckload
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	1,094	1,211	2,186	2,390
Transportation | LTL
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	1,261	1,247	2,440	2,420
Transportation | Last mile
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	212	269	436	507
Transportation | Managed transportation
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	142	114	266	251
Transportation | Global forwarding
Disaggregation of Revenue [Line Items]
Revenue, including assessed taxes	78	85	155	167
Transportation | Eliminations
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	(40)	(38)	(77)	(73)
Logistics
Disaggregation of Revenue [Line Items]
Revenue, excluding assessed taxes	$ 1,526	$ 1,508	$ 3,020	$ 2,956

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Billions	Jun. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 1.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
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]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Restructuring Related Activity (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	$ 16
Charges Incurred	17
Payments	(21)
Reserve Balance as of June 30, 2019	12
Severance
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	16
Charges Incurred	14
Payments	(21)
Reserve Balance as of June 30, 2019	9
Operating Segments | Transportation | Severance
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	9
Charges Incurred	11
Payments	(15)
Reserve Balance as of June 30, 2019	5
Operating Segments | Transportation | Facilities
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	0
Charges Incurred	3
Payments	0
Reserve Balance as of June 30, 2019	3
Operating Segments | Logistics | Severance
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	5
Charges Incurred	2
Payments	(4)
Reserve Balance as of June 30, 2019	3
Corporate | Severance
Restructuring Reserve [Roll Forward]
Reserve Balance as of December 31, 2018	2
Charges Incurred	1
Payments	(2)
Reserve Balance as of June 30, 2019	$ 1

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 17
Cost of transportation and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 14

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2019	Jun. 30, 2019	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Operating lease assets		$ 2,074	$ 2,074
Operating lease liability		2,092	2,092
Increase in retained earnings related to deferred gain on sale leaseback transaction		$ 17	$ 36
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 2,100
Operating lease liability	2,100
Retained Earnings | Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Increase in retained earnings related to deferred gain on sale leaseback transaction	$ 6

Leases - Components of Lease Ex

Leases - Components of Lease Expense and Gain Realized on Sales Leaseback Transactions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 178	$ 353
Short-term lease cost	31	77
Variable lease cost	18	36
Total operating lease cost	227	466
Amortization of leased assets	14	25
Interest on lease liabilities	1	3
Total finance lease cost	15	28
Total lease cost	242	494
Gain recognized on sale-leaseback transactions	$ 17	$ 36

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) $ in Millions	Jun. 30, 2019USD ($)
Operating leases:
Operating lease assets	$ 2,074
Short-term operating lease liabilities	481
Operating lease liabilities	1,611
Total operating lease liabilities	2,092
Finance leases:
Property and equipment, gross	413
Accumulated depreciation	(111)
Property and equipment, net	302
Short-term borrowings and current maturities of long-term debt	55
Long-term debt	232
Total finance lease liabilities	$ 287
Weighted-average remaining lease term
Operating leases	7 years
Finance leases	6 years
Weighted-average discount rate
Operating leases	5.12%
Finance leases	2.53%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows for operating leases	$ 347
Operating cash flows for finance leases	3
Financing cash flows for finance leases	30
Leased assets obtained in exchange for new lease obligations:
Operating leases	327
Finance leases	$ 30

Leases - Maturities of Financin

Leases - Maturities of Financing and Operating Lease Liabilities (Details) $ in Millions	Jun. 30, 2019USD ($)
Finance Leases
Remainder of 2019	$ 47
2020	59
2021	58
2022	55
2023	45
Thereafter	42
Total lease payments	306
Less: interest	(19)
Present value of lease liabilities	287
Operating Leases
Remainder of 2019	275
2020	548
2021	429
2022	332
2023	253
Thereafter	648
Total lease payments	2,485
Less: interest	(393)
Present value of lease liabilities	$ 2,092

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under Topic 840 (Details) $ in Millions	Dec. 31, 2018USD ($)
Capital Leases
2019	$ 61
2020	60
2021	55
2022	52
2023	43
Thereafter	39
Total minimum lease payments	310
Amount representing interest	(21)
Present value of minimum lease payments	289
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	577
2020	460
2021	367
2022	288
2023	221
Thereafter	523
Total minimum lease payments	$ 2,436

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 2	$ 7
Derivative Liabilities	(64)	(81)
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	1,261	1,270
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	(47)	(81)
Level 2 | Derivatives designated as hedges | Interest rate swap | Other Current Assets and Other Current Liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	2,003
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 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(12)
Level 2 | Derivatives not designated as hedges | Foreign currency option contracts | Other Current Assets and Other Current Liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	500	473
Level 2 | Derivatives not designated as hedges | Foreign currency option contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	2	7
Level 2 | Derivatives not designated as hedges | Foreign currency option contracts | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ (5)	$ 0

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Gains and Losses Recognized on the Statements of Income for Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	$ (3)	$ 83	$ 32	$ 25
Amount of Gain Reclassified from AOCI into Net Income	(3)	15	2	13
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	3	2	5	(1)
Cross-currency swap agreements | Derivatives designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(1)	17	5	6
Amount of Gain Reclassified from AOCI into Net Income	(3)	15	2	13
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
Cross-currency swap agreements | Derivatives not designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(7)	67	28	20
Amount of Gain Reclassified from AOCI into Net Income	0	0	0	0
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	3	2	5	(1)
Interest rate swap | Derivatives designated as hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	5	(1)	(1)	(1)
Amount of Gain Reclassified from AOCI into Net Income	0	0	0	0
Amount of Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0	$ 0	$ 0	$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative [Line Items]
Reclassification of cash from operating activities to investing activities			$ 0	$ (10)
Foreign currency option and forward contracts
Derivative [Line Items]
Reclassification of cash from operating activities to investing activities				13
Derivatives designated as hedges | Cross-currency swap agreements
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings			(2)	3
Derivatives not designated as hedges | Cross-currency swap agreements
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings			(28)	(37)
Derivatives not designated as hedges | Foreign currency option and forward contracts
Derivative [Line Items]
Pre-tax gain (loss) recognized in earnings	$ (8)	$ 16	$ (10)	$ 4
Maximum | Derivatives not designated as hedges | Foreign currency option and forward contracts
Derivative [Line Items]
Derivative, term of contract			12 months

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2019	Apr. 30, 2019	Feb. 28, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt, principal balance	$ 5,634			$ 4,415
Short-term debt and current maturities of long-term debt, principal balance	340			371
Long-term debt excluding current maturities, principal balance	5,294			4,044
Total debt, carrying value	5,718			4,305
Long-term debt, carrying value	5,134			3,902
Finance leases
Debt Instrument [Line Items]
Long-term debt, principal balance	287			289
Term loan facility
Debt Instrument [Line Items]
Long-term debt, principal balance	2,003			1,503
6.125% Senior notes due 2023
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 535			535
Stated interest rate	6.125%
6.50% Senior notes due 2022
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 1,200			1,200
Stated interest rate	6.50%
6.70% Senior debentures due 2034
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 300			300
Stated interest rate	6.70%
6.75% Senior notes due 2024
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 1,000			0
Stated interest rate	6.75%		6.75%
Trade securitization program
Debt Instrument [Line Items]
Long-term debt, principal balance	$ 261			283
Asset financing and other
Debt Instrument [Line Items]
Long-term debt, principal balance	48			55
Carrying Value
Debt Instrument [Line Items]
Total debt, carrying value	5,474			4,269
Short-term debt and current maturities of long-term debt, carrying value	340			367
Long-term debt, carrying value	5,134			3,902
Carrying Value | Finance leases
Debt Instrument [Line Items]
Total debt, carrying value	287			289
Carrying Value | Term loan facility
Debt Instrument [Line Items]
Total debt, carrying value	1,966			1,474
Carrying Value | 6.125% Senior notes due 2023
Debt Instrument [Line Items]
Total debt, carrying value	530			529
Carrying Value | 6.50% Senior notes due 2022
Debt Instrument [Line Items]
Total debt, carrying value	1,191			1,190
Carrying Value | 6.70% Senior debentures due 2034
Debt Instrument [Line Items]
Total debt, carrying value	206			205
Carrying Value | 6.75% Senior notes due 2024
Debt Instrument [Line Items]
Total debt, carrying value	986			0
Carrying Value | Trade securitization program
Debt Instrument [Line Items]
Total debt, carrying value	259			281
Carrying Value | Asset financing and other
Debt Instrument [Line Items]
Total debt, carrying value	49			55
ABL facility
Debt Instrument [Line Items]
Long-term debt, principal balance	0			0
ABL facility | 6.125% Senior notes due 2023
Debt Instrument [Line Items]
Stated interest rate		6.125%
ABL facility | 6.50% Senior notes due 2022
Debt Instrument [Line Items]
Stated interest rate		6.50%
ABL facility | Carrying Value
Debt Instrument [Line Items]
Total debt, carrying value	0			0
Unsecured credit facility
Debt Instrument [Line Items]
Short-term borrowing, principal balance	0			250
Unsecured credit facility | Carrying Value
Debt Instrument [Line Items]
Short-term borrowing, carrying value	$ 0			$ 246

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Fair value of debt	$ 5,718	$ 4,305
Level 1
Debt Instrument [Line Items]
Fair value of debt	3,145	2,020
Level 2
Debt Instrument [Line Items]
Fair value of debt	$ 2,573	$ 2,285

Debt - ABL Facility (Details)

Debt - ABL Facility (Details) - USD ($)	Apr. 30, 2019	Jun. 30, 2019
ABL facility
Debt Instrument [Line Items]
Debt covenant, threshold amount outstanding triggering maturity date extension	$ 200,000,000
Aggregate maximum borrowing capacity	$ 1,100,000,000
Line of credit facility, borrowing base		$ 1,046,000,000
Remaining borrowing availability		838,000,000
Line of credit facility, amount drawn		$ 208,000,000
6.50% Senior notes due 2022
Debt Instrument [Line Items]
Stated interest rate		6.50%
6.50% Senior notes due 2022 | ABL facility
Debt Instrument [Line Items]
Stated interest rate	6.50%
6.125% Senior notes due 2023
Debt Instrument [Line Items]
Stated interest rate		6.125%
6.125% Senior notes due 2023 | ABL facility
Debt Instrument [Line Items]
Stated interest rate	6.125%
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate margin	1.25%
Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate margin	0.25%
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate margin	1.50%
Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate margin	0.50%

Debt - Term Loan Facility (Deta

Debt - Term Loan Facility (Details) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Debt extinguishment loss		$ 0	$ 0	$ 10,000,000	$ 5,000,000	$ 10,000,000
Incremental Loan Facility
Debt Instrument [Line Items]
Debt issued as a percentage of par value		99.50%			99.50%
Incremental Loan Facility | Base Rate
Debt Instrument [Line Items]
Interest rate margin	1.50%
Incremental Loan Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate margin	2.50%
Amendment No. 5 to Credit Agreement | Incremental Loan Facility
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 500,000,000
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Annual effective interest rate		4.40%			4.40%
Secured Debt | Incremental Loan Facility
Debt Instrument [Line Items]
Annual effective interest rate		4.88%			4.88%
Secured Debt | Amendment No. 4 to Credit Agreement
Debt Instrument [Line Items]
Debt instrument face amount		$ 500,000,000			$ 500,000,000
Percentage of yield on incremental term loan in excess of yield on existing loans		0.75%			0.75%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - 6.75% Senior notes due 2024 - USD ($)	Jun. 30, 2019	Feb. 28, 2019
Debt Instrument [Line Items]
Debt instrument face amount		$ 1,000,000,000
Stated interest rate	6.75%	6.75%

Debt - Trade Securitization Pro

Debt - Trade Securitization Program (Details)	1 Months Ended
	Jul. 31, 2019EUR (€)	Oct. 31, 2017	Jul. 01, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)
Trade Receivables Securitization Program One | XPO Collections Designated Activity Company Limited | Affiliated Entity
Debt Instrument [Line Items]
Trade securitization program, term		3 years
Aggregate maximum borrowing capacity				$ 398,000,000	€ 350,000,000
Remaining borrowing availability				$ 27,000,000	€ 24,000,000
Weighted average interest rate				1.10%	1.10%
XPO Logistics Europe SA
Debt Instrument [Line Items]
Controlling interest percentage in subsidiary				86.25%	86.25%
Subsequent Event | Trade Receivables Securitization Program Two | XPO Collections Designated Activity Company Limited | Affiliated Entity
Debt Instrument [Line Items]
Trade securitization program, term	3 years
Aggregate maximum borrowing capacity	€ 400,000,000		$ 450,000,000

Debt - Unsecured Credit Facilit

Debt - Unsecured Credit Facility (Details) - Unsecured Credit Facility - USD ($)	1 Months Ended
	Jan. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument face amount		$ 500,000,000
Proceeds from debt	$ 250,000,000	$ 250,000,000

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2019	Feb. 13, 2019	Dec. 14, 2018
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock liquidation preference percentage		4.00%	4.00%
2018 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program authorized amount					$ 1,000,000,000
Shares repurchased and retired (in shares)	10		8
Aggregate value of shares repurchased and retired	$ 536,000,000		$ 464,000,000
Shares repurchased, average price per share (in usd per share)	$ 53.46		$ 59.47
2019 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program authorized amount				$ 1,500,000,000
Shares repurchased and retired (in shares)		2	17
Aggregate value of shares repurchased and retired		$ 120,000,000	$ 883,000,000
Shares repurchased, average price per share (in usd per share)		$ 56.78	$ 50.70
Remaining value of shares available for repurchase		$ 617,000,000	$ 617,000,000

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic earnings per common share
Net income attributable to XPO	$ 135	$ 149	$ 182	$ 222
Series A preferred stock dividends	0	0	(1)	(1)
Non-cash allocation of undistributed earnings	(13)	(11)	(16)	(16)
Net income attributable to common shares, basic	$ 122	$ 138	$ 165	$ 205
Basic weighted-average common shares (in shares)	92	121	100	120
Basic earnings per share (in dollars per share)	$ 1.32	$ 1.14	$ 1.66	$ 1.70
Diluted earnings per common share
Net income attributable to common shares, diluted	$ 122	$ 138	$ 165	$ 205
Basic weighted-average common shares (in shares)	92	121	100	120
Dilutive effect of non-participating stock-based awards and equity forward (in shares)	10	13	10	14
Diluted weighted-average common shares (in shares)	102	134	110	134
Diluted earnings per share (in dollars per share)	$ 1.19	$ 1.03	$ 1.51	$ 1.53
Potential common shares excluded (in shares)	10	10	10	10

Legal and Regulatory Matters -

Legal and Regulatory Matters - Narrative (Details) $ in Millions	May 16, 2017USD ($)	Mar. 06, 2015class_actionclaimant	Apr. 30, 2017USD ($)claimant	Jun. 30, 2015USD ($)claimant	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		170	4	5
Amount claimed | $				$ 1
Settlement amount awarded to other party | $	$ 1		$ 1
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

Uncategorized Items - xpo2019q2

Label	Element	Value
Accounting Standards Update 2016-02 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 6,000,000
Accounting Standards Update 2016-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	6,000,000
Accounting Standards Update 2016-02 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 6,000,000