Expeditors International of Washington (EXPD) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Entity Information [Line Items]
Entity Registrant Name	EXPEDITORS INTERNATIONAL OF WASHINGTON INC
Entity Central Index Key	746,515
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	EXPD
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		186,413,350

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 968,683	$ 927,107
Short-term investments	8,260	40,336
Accounts receivable, less allowance for doubtful accounts of $7,309 at September 30, 2015 and $7,119 at December 31, 2014	1,166,300	1,236,042
Deferred Federal and state income taxes	20,862	20,279
Other	71,355	65,486
Total current assets	2,235,460	2,289,250
Property and equipment, less accumulated depreciation and amortization of $379,996 at September 30, 2015 and $371,756 at December 31, 2014	527,893	538,415
Goodwill	7,927	7,927
Other assets, net	55,738	55,313
Total assets	2,827,018	2,890,905
Current Liabilities:
Accounts payable	718,555	770,238
Accrued expenses, primarily salaries and related costs	208,771	192,468
Federal, state and foreign income taxes	27,876	21,077
Total current liabilities	955,202	983,783
Deferred Federal and state income taxes	$ 29,624	$ 35,514
Commitments and contingencies
Shareholders' Equity:
Preferred stock, none issued	$ 0	$ 0
Common stock, par value $0.01 per share. Issued and outstanding 186,183,201 shares at September 30, 2015 and 191,655,690 shares at December 31, 2014	1,862	1,916
Additional paid-in capital	874	1,113
Retained earnings	1,910,388	1,903,196
Accumulated other comprehensive loss	(74,079)	(37,817)
Total shareholders’ equity	1,839,045	1,868,408
Noncontrolling interest	3,147	3,200
Total equity	1,842,192	1,871,608
Total liabilities and equity	$ 2,827,018	$ 2,890,905

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$ 7,309	$ 7,119
Property and equipment, accumulated depreciation	$ 379,996	$ 371,756
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	186,183,201	191,655,690
Common stock, shares outstanding	186,183,201	191,655,690

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Airfreight services	$ 659,607	$ 686,434	$ 2,060,863	$ 2,000,829
Ocean freight and ocean services	559,976	600,483	1,702,465	1,606,145
Customs brokerage and other services	431,749	418,188	1,257,083	1,188,917
Total revenues	1,651,332	1,705,105	5,020,411	4,795,891
Operating Expenses:
Airfreight services	464,161	516,969	1,484,150	1,503,064
Ocean freight and ocean services	416,075	475,460	1,294,887	1,266,551
Customs brokerage and other services	201,115	199,420	589,766	563,720
Salaries and related costs	295,566	272,548	861,509	789,257
Rent and occupancy costs	25,747	26,396	76,106	76,959
Depreciation and amortization	11,475	12,741	34,424	37,540
Selling and promotion	10,370	9,240	30,146	26,704
Other	34,930	33,200	105,931	95,319
Total operating expenses	1,459,439	1,545,974	4,476,919	4,359,114
Operating income	191,893	159,131	543,492	436,777
Other Income (Expense):
Interest income	2,666	2,793	8,034	8,254
Other, net	(3,085)	2,336	753	5,245
Other (expense) income, net	(419)	5,129	8,787	13,499
Earnings before income taxes	191,474	164,260	552,279	450,276
Income tax expense	72,738	61,463	207,882	171,556
Net earnings	118,736	102,797	344,397	278,720
Less net earnings attributable to the noncontrolling interest	426	416	1,623	1,213
Net earnings attributable to shareholders	$ 118,310	$ 102,381	$ 342,774	$ 277,507
Diluted earnings attributable to shareholders per share	$ 0.62	$ 0.53	$ 1.79	$ 1.40
Basic earnings attributable to shareholders per share	0.63	0.53	1.80	1.41
Dividends declared and paid per common share	$ 0	$ 0	$ 0.36	$ 0.32
Weighted average diluted shares outstanding	189,641,774	195,001,267	191,447,796	197,953,810
Weighted average basic shares outstanding	188,424,400	194,419,071	190,231,986	197,305,251

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net earnings	$ 118,736	$ 102,797	$ 344,397	$ 278,720
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax of $11,669 and $9,954 for the three months ended September 30, 2015 and 2014 and $19,866 and $8,560 for the nine months ended September 30, 2015 and 2014	(21,692)	(18,351)	(37,081)	(15,743)
Reclassification adjustment for foreign currency realized losses, net of tax of $61 for the nine months ended September 30, 2014	0	0	0	111
Other comprehensive loss	(21,692)	(18,351)	(37,081)	(15,632)
Comprehensive income	97,044	84,446	307,316	263,088
Less comprehensive income attributable to the noncontrolling interest	35	234	804	1,094
Comprehensive income attributable to shareholders	$ 97,009	$ 84,212	$ 306,512	$ 261,994

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign currency translation adjustments, tax	$ (11,669)	$ (9,954)	$ (19,866)	$ (8,560)
Reclassification adjustment for foreign currency realized losses, tax				$ (61)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Activities:
Net earnings	$ 118,736	$ 102,797	$ 344,397	$ 278,720
Adjustments to reconcile net earnings to net cash from operating activities:
Provision for losses (recoveries) on accounts receivable	134	564	995	(55)
Deferred income tax (benefit) expense	(7,611)	(2,085)	13,312	8,000
Excess tax benefits from stock plans	0	(47)	(1,846)	(1,031)
Stock compensation expense	10,919	10,049	32,489	32,220
Depreciation and amortization	11,475	12,741	34,424	37,540
Other	2	139	115	345
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable	2,466	(58,984)	18,910	(131,374)
(Decrease) increase in accounts payable and accrued expenses	(19,622)	23,113	3,311	114,036
Increase (decrease) in income taxes payable, net	19,978	2,050	4,110	(27,115)
Increase in other current assets	(3,801)	(3,646)	(1,419)	(5,852)
Net cash from operating activities	132,676	86,691	448,798	305,434
Investing Activities:
Purchase of short-term investments	0	(40,275)	(47,008)	(136,706)
Proceeds from maturities of short-term investments	38,788	86,107	79,084	122,726
Purchase of property and equipment	(9,546)	(8,255)	(31,903)	(26,650)
Escrow deposit for land acquisition	0	0	0	(27,101)
Other, net	(2,666)	370	(2,482)	504
Net cash from investing activities	26,576	37,947	(2,309)	(67,227)
Financing Activities:
Proceeds from issuance of common stock	54,606	28,452	114,701	58,469
Repurchases of common stock	(209,970)	(117,044)	(415,475)	(475,160)
Excess tax benefits from stock plans	0	47	1,846	1,031
Dividends paid	0	0	(68,781)	(62,807)
Distributions to noncontrolling interest	0	0	(857)	(85)
Net cash from financing activities	(155,364)	(88,545)	(368,566)	(478,552)
Effect of exchange rate changes on cash and cash equivalents	(20,932)	(16,174)	(36,347)	(16,827)
(Decrease) increase in cash and cash equivalents	(17,044)	19,919	41,576	(257,172)
Cash and cash equivalents at beginning of period	985,727	970,561	927,107	1,247,652
Cash and cash equivalents at end of period	968,683	990,480	968,683	990,480
Taxes Paid:
Income taxes	$ 60,374	$ 61,899	$ 190,024	$ 195,358

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies A. Basis of Presentation Expeditors International of Washington, Inc. (“the Company”) is a non-asset based provider of global logistics services operating through a worldwide network of offices and exclusive or non-exclusive agents. The Company’s customers include retailing and wholesaling, electronics, industrial and manufacturing companies around the world. The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. As a result, certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) have been condensed or omitted. The Company believes that the disclosures made are adequate to make the information presented not misleading. The condensed consolidated financial statements reflect all adjustments, consisting of normal recurring items, which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's Form 10-K as filed with the Securities and Exchange Commission on February 26, 2015. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar amounts in the notes are presented in thousands except for share data. Effective in the first quarter of 2015, the Company changed the organization of the management of its Asia Pacific region, splitting it into North and South Asia. Accordingly, the financial information previously combined under one geographical operating segment for Asia Pacific is now reported as North Asia and South Asia segments for all periods presented. B. Accounts Receivable The Company maintains an allowance for doubtful accounts, which is reviewed at least monthly for estimated losses resulting from the inability of its customers to make required payments for services and advances. Additional allowances may be necessary in the future if the ability of its customers to pay deteriorates. The Company has recorded an allowance for doubtful accounts in the amounts of $7,309 as of September 30, 2015 and $7,119 as of December 31, 2014 . Additions and write-offs have not been significant in the periods presented. C. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. The Company uses estimates primarily in the following areas: accounts receivable valuation, accrual of costs related to ancillary services the Company provides, accrual of insurance liabilities for the portion of the related exposure which the Company has self-insured, accrual of various tax liabilities, accrual of loss contingencies and calculation of share-based compensation expense. Actual results could differ from those estimates. D. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09 (Topic 606) “Revenue from Contracts with Customers”, as amended. This update, which supersedes the revenue recognition requirements in Accounting Standards Codification (ASC) Topic 605 - “Revenue Recognition” and most industry-specific guidance throughout the industry topics of the FASB ASC, substantially converges revenue recognition guidance between U.S. GAAP and International Financial Reporting Standards (IFRS), providing a single, comprehensive framework for recognizing revenue. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2018. The Company is currently evaluating the impact of adopting ASU 2014-09 on its consolidated financial statements and related disclosures. However, at this time, based on the nature of the Company's operations, the adoption of ASU 2014-09 is not expected to have a material impact on the amount or timing of revenue recognized or the Company's revenue recognition policies.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2015
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation The Company provides compensation benefits by granting stock options and employee stock purchase rights to its employees and restricted shares to its directors. On May 21, 2015 , the shareholders approved the 2015 Stock Option Plan, which made available 3,000,000 shares of the Company's common stock for purchase upon exercise of options granted. The Company has historically granted the majority of its options during the second quarter of each fiscal year. For the nine months ended September 30, 2015 and 2014 , 2,955,750 and 2,289,600 options were granted, respectively. The grant of employee stock purchase rights and the issuance of shares under the employee stock purchase plan are made in the third quarter of each fiscal year and 699,438 and 671,775 were issued in the nine-month periods ended September 30, 2015 and 2014 , respectively. In the second quarter of 2015 and 2014, respectively, 33,848 and 30,702 fully vested shares were granted to independent directors. The Company recognizes stock compensation expense based on an estimate of the fair value of awards granted to employees and directors under the Company’s stock option, director restricted stock and employee stock purchase rights plans. The expense, adjusted for expected forfeitures, is recognized on a straight-line basis over the stock awards' vesting period. The forfeiture assumption used to calculate compensation expense is primarily based on historical pre-vesting employee forfeiture patterns. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Nine months ended September 30, 2015 2014 Dividend yield 1.60 % 1.50 - 1.51% Volatility - stock option plans 29 - 34% 36 % Volatility - stock purchase rights plans 20 % 20 % Risk free interest rates 0.30 - 2.04% 0.11 - 2.27% Expected life (years) - stock option plans 6.41 - 7.47 6.52 - 7.43 Expected life (years) - stock purchase rights plans 1 1 Weighted average fair value of stock options granted during the period $ 13.44 $ 14.08 Weighted average fair value of stock purchase rights granted during the period $ 10.45 $ 9.60 Total stock compensation expense and the total related tax benefit recognized are as follows: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Stock compensation expense $ 10,919 $ 10,049 $ 32,489 $ 32,220 Recognized tax benefit $ 1,571 $ 988 $ 4,305 $ 3,115

Basic and Diluted Earnings per

Basic and Diluted Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Basic and Diluted Earnings per Share	Basic and Diluted Earnings per Share The following table reconciles the numerator and the denominator of the basic and diluted per share computations for earnings attributable to shareholders: Three months ended September 30, (Amounts in thousands, except share and per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2015 Basic earnings attributable to shareholders $ 118,310 188,424,400 $ 0.63 Effect of dilutive potential common shares — 1,217,374 — Diluted earnings attributable to shareholders $ 118,310 189,641,774 $ 0.62 2014 Basic earnings attributable to shareholders $ 102,381 194,419,071 $ 0.53 Effect of dilutive potential common shares — 582,196 — Diluted earnings attributable to shareholders $ 102,381 195,001,267 $ 0.53 Nine months ended September 30, (Amounts in thousands, except share and per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2015 Basic earnings attributable to shareholders $ 342,774 190,231,986 $ 1.80 Effect of dilutive potential common shares — 1,215,810 — Diluted earnings attributable to shareholders $ 342,774 191,447,796 $ 1.79 2014 Basic earnings attributable to shareholders $ 277,507 197,305,251 $ 1.41 Effect of dilutive potential common shares — 648,559 — Diluted earnings attributable to shareholders $ 277,507 197,953,810 $ 1.40 The following potential common shares have been excluded from the computation of diluted earnings per share because the effect would have been antidilutive: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Shares 8,379,877 14,886,109 9,713,102 16,532,462

Components of Equity

Components of Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Components of Equity	Components of Equity The components of equity for the nine months ended September 30, 2015 and 2014 are as follows: Shareholders’ equity Noncontrolling interest Total equity Balance at December 31, 2014 $ 1,868,408 3,200 1,871,608 Exercise of stock options 88,851 — 88,851 Issuance of shares under stock purchase plan 25,850 — 25,850 Shares repurchased under provisions of stock repurchase plans (415,475 ) — (415,475 ) Stock compensation expense 32,489 — 32,489 Tax benefits from stock plans, net 1,191 — 1,191 Net earnings 342,774 1,623 344,397 Other comprehensive loss (36,262 ) (819 ) (37,081 ) Dividends paid ($0.36 per share) (68,781 ) — (68,781 ) Distributions to noncontrolling interest — (857 ) (857 ) Balance at September 30, 2015 $ 1,839,045 3,147 1,842,192 Balance at December 31, 2013 $ 2,084,783 1,548 2,086,331 Exercise of stock options 34,669 — 34,669 Issuance of shares under stock purchase plan 23,800 — 23,800 Shares repurchased under provisions of stock repurchase plans (475,160 ) — (475,160 ) Stock compensation expense 32,220 — 32,220 Tax benefits from stock plans, net 1,031 — 1,031 Net earnings 277,507 1,213 278,720 Other comprehensive loss (15,513 ) (119 ) (15,632 ) Dividends paid ($0.32 per share) (62,807 ) — (62,807 ) Purchase of noncontrolling interest 843 843 Distributions to noncontrolling interest — (85 ) (85 ) Balance at September 30, 2014 $ 1,901,373 2,557 1,903,930 The Company has a Non-Discretionary Stock Repurchase Plan to repurchase shares from the proceeds of stock option exercises and employee stock purchases. During the nine month periods ended September 30, 2015 and 2014 , 2,242,579 and 1,364,974 shares were repurchased at an average price of $47.93 and $42.73 per share, respectively. The Company also has a Discretionary Stock Repurchase Plan approved by the Board of Directors that authorizes management to reduce issued and outstanding stock to 180 million shares of common stock. During the nine -month periods ended September 30, 2015 and 2014 , 6,395,506 and 10,057,648 shares were repurchased at an average price of $48.16 and $41.44 per share, respectively. Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented. On May 6, 2015 , the Board of Directors declared a semi-annual cash dividend of $0.36 per share payable on June 15, 2015 to shareholders of record as of June 1, 2015 . On May 7, 2014 , the Board of Directors declared a semi-annual cash dividend of $0.32 per share payable on June 16, 2014 to shareholders of record as of June 2, 2014 . Subsequent to the end of the third quarter, on November 3, 2015 , the Board of Directors declared a semi-annual dividend of $0.36 per share payable on December 15, 2015 to shareholders of record as of December 1, 2015 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments, other than cash, consist primarily of cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses. The carrying value of these financial instruments approximates their fair value. Cash equivalents consist of highly liquid investments with a maturity of three months or less at date of purchase. Short-term investments have a maturity of greater than three months at date of purchase. Cash, cash equivalents and short-term investments consist of the following: September 30, 2015 December 31, 2014 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 487,243 487,243 531,312 531,312 Corporate commercial paper 430,387 430,428 356,468 356,536 Time deposits 51,053 51,053 39,327 39,327 Total cash and cash equivalents 968,683 968,724 927,107 927,175 Short-Term Investments: Corporate commercial paper 8,239 8,245 40,295 40,350 Time deposits 21 21 41 41 Total short-term investments 8,260 8,266 40,336 40,391 Total $ 976,943 976,990 967,443 967,566 The fair value of corporate commercial paper and time deposits is based on the use of market interest rates for identical or similar assets (Level 2 fair value measurement).

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Loss Contingency [Abstract]
Contingencies	Contingencies The Company is involved in claims, lawsuits, government investigations and other legal matters that arise in the ordinary course of business and are subject to inherent uncertainties. Currently, in management's opinion and based upon advice from legal advisors, none of these matters are expected to have a significant effect on the Company's operations, cash flows or financial position. As of September 30, 2015 , the amounts accrued for these claims, lawsuits, government investigations and other legal matters are not significant to the Company's operations or financial position. At this time the Company is unable to estimate any additional loss or range of reasonably possible losses, if any, beyond the amounts recorded, that might result from the resolution of these matters.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, net revenues 1 , operating income, identifiable assets, capital expenditures, depreciation and amortization and equity generated in each of these geographical areas when evaluating the effectiveness of geographic management. The Company charges its subsidiaries and affiliates for services rendered in the United States on a cost recovery basis. Transactions among the Company’s various offices are conducted using the same arms-length pricing methodologies the Company uses when its offices transact business with independent agents. Financial information regarding the Company’s operations by geographic area is as follows: (in thousands) UNITED STATES OTHER NORTH AMERICA LATIN AMERICA NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- NATIONS CONSOLI- DATED Three months ended September 30, 2015: Revenues from unaffiliated customers $ 441,097 56,818 24,681 648,096 158,011 234,334 88,295 — 1,651,332 Transfers between geographic areas 29,168 3,492 4,991 5,206 6,289 11,125 5,459 (65,730 ) — Total revenues $ 470,265 60,310 29,672 653,302 164,300 245,459 93,754 (65,730 ) 1,651,332 Net revenues 1 $ 232,912 32,713 17,115 135,488 45,970 77,250 28,533 — 569,981 Operating income $ 65,389 11,905 5,007 69,690 18,574 14,188 7,140 — 191,893 Identifiable assets at period end $ 1,385,157 108,644 56,987 472,189 140,206 427,053 229,670 7,112 2,827,018 Capital expenditures $ 6,196 658 222 711 291 1,223 245 — 9,546 Depreciation and amortization $ 7,439 363 268 1,336 531 1,120 418 — 11,475 Equity $ 1,144,466 64,384 35,890 250,362 103,457 148,287 126,321 (30,975 ) 1,842,192 Three months ended September 30, 2014: Revenues from unaffiliated customers $ 438,882 55,209 22,962 670,763 174,839 259,960 82,490 — 1,705,105 Transfers between geographic areas 24,847 2,867 5,194 6,116 6,814 9,783 5,171 (60,792 ) — Total revenues $ 463,729 58,076 28,156 676,879 181,653 269,743 87,661 (60,792 ) 1,705,105 Net revenues 1 $ 215,320 27,323 16,792 106,225 42,023 80,024 25,549 — 513,256 Operating income $ 68,972 7,779 4,890 45,153 12,073 14,921 5,343 — 159,131 Identifiable assets at period end $ 1,333,124 113,621 53,939 580,260 152,236 476,799 204,378 11,696 2,926,053 Capital expenditures $ 3,171 361 369 1,648 1,247 1,016 443 — 8,255 Depreciation and amortization $ 8,369 303 226 1,493 523 1,391 436 — 12,741 Equity $ 1,074,837 75,848 34,218 341,092 111,556 185,332 114,229 (33,182 ) 1,903,930 (in thousands) UNITED STATES OTHER NORTH AMERICA LATIN AMERICA NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- NATIONS CONSOLI- DATED Nine months ended September 30, 2015: Revenues from unaffiliated customers $ 1,334,900 170,351 73,076 1,943,441 524,254 716,373 258,016 — 5,020,411 Transfers between geographic areas 89,329 9,991 15,171 16,330 18,677 31,478 15,638 (196,614 ) — Total revenues $ 1,424,229 180,342 88,247 1,959,771 542,931 747,851 273,654 (196,614 ) 5,020,411 Net revenues 1 $ 681,868 93,967 51,159 377,384 135,114 229,745 82,371 — 1,651,608 Operating income $ 193,117 33,433 15,804 187,343 48,594 44,846 20,355 — 543,492 Identifiable assets at period end $ 1,385,157 108,644 56,987 472,189 140,206 427,053 229,670 7,112 2,827,018 Capital expenditures $ 20,232 2,602 1,408 1,476 1,599 3,292 1,294 — 31,903 Depreciation and amortization $ 22,171 965 784 4,114 1,609 3,542 1,239 — 34,424 Equity $ 1,144,466 64,384 35,890 250,362 103,457 148,287 126,321 (30,975 ) 1,842,192 Nine months ended September 30, 2014: Revenues from unaffiliated customers $ 1,256,075 162,136 65,594 1,863,077 468,152 744,466 236,391 — 4,795,891 Transfers between geographic areas 67,266 7,829 15,965 17,170 20,072 28,931 14,638 (171,871 ) — Total revenues $ 1,323,341 169,965 81,559 1,880,247 488,224 773,397 251,029 (171,871 ) 4,795,891 Net revenues 1 $ 607,508 79,017 48,797 297,117 121,261 234,313 74,543 — 1,462,556 Operating income $ 180,650 23,155 14,425 124,528 36,371 41,515 16,133 — 436,777 Identifiable assets at period end $ 1,333,124 113,621 53,939 580,260 152,236 476,799 204,378 11,696 2,926,053 Capital expenditures $ 12,646 1,047 841 5,691 2,221 3,116 1,088 — 26,650 Depreciation and amortization $ 24,100 879 665 4,471 1,739 4,376 1,310 — 37,540 Equity $ 1,074,837 75,848 34,218 341,092 111,556 185,332 114,229 (33,182 ) 1,903,930 _______________________ 1 Net revenues are a non-GAAP measure calculated as revenues less directly related operations expenses attributable to the Company's principal services. The Company's management believes that net revenues are a better measure than total revenues when evaluating the Company's operating segment performance since total revenues earned as a freight consolidator include the carriers' charges for carrying the shipment, whereas revenues earned in other capacities include primarily the commissions and fees earned by the Company. Net revenue is one of the Company's primary operational and financial measures and demonstrates the Company's ability to concentrate and leverage purchasing power through effective consolidation of shipments from customers utilizing a variety of transportation carriers and optimal routings. The following table presents the calculation of consolidated net revenues: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total revenues $ 1,651,332 $ 1,705,105 $ 5,020,411 $ 4,795,891 Expenses: Airfreight services 464,161 516,969 1,484,150 1,503,064 Ocean freight and ocean services 416,075 475,460 1,294,887 1,266,551 Customs brokerage and other services 201,115 199,420 589,766 563,720 Net revenues $ 569,981 $ 513,256 $ 1,651,608 $ 1,462,556

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation, Policy	The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. As a result, certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) have been condensed or omitted. The Company believes that the disclosures made are adequate to make the information presented not misleading. The condensed consolidated financial statements reflect all adjustments, consisting of normal recurring items, which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's Form 10-K as filed with the Securities and Exchange Commission on February 26, 2015. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar amounts in the notes are presented in thousands except for share data. Effective in the first quarter of 2015, the Company changed the organization of the management of its Asia Pacific region, splitting it into North and South Asia. Accordingly, the financial information previously combined under one geographical operating segment for Asia Pacific is now reported as North Asia and South Asia segments for all periods presented.
Accounts Receivable, Policy	The Company maintains an allowance for doubtful accounts, which is reviewed at least monthly for estimated losses resulting from the inability of its customers to make required payments for services and advances. Additional allowances may be necessary in the future if the ability of its customers to pay deteriorates. The Company has recorded an allowance for doubtful accounts in the amounts of $7,309 as of September 30, 2015 and $7,119 as of December 31, 2014 . Additions and write-offs have not been significant in the periods presented.
Use of Estimates, Policy	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. The Company uses estimates primarily in the following areas: accounts receivable valuation, accrual of costs related to ancillary services the Company provides, accrual of insurance liabilities for the portion of the related exposure which the Company has self-insured, accrual of various tax liabilities, accrual of loss contingencies and calculation of share-based compensation expense. Actual results could differ from those estimates.
Recent Accounting Pronouncements, Policy	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09 (Topic 606) “Revenue from Contracts with Customers”, as amended. This update, which supersedes the revenue recognition requirements in Accounting Standards Codification (ASC) Topic 605 - “Revenue Recognition” and most industry-specific guidance throughout the industry topics of the FASB ASC, substantially converges revenue recognition guidance between U.S. GAAP and International Financial Reporting Standards (IFRS), providing a single, comprehensive framework for recognizing revenue. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2018. The Company is currently evaluating the impact of adopting ASU 2014-09 on its consolidated financial statements and related disclosures. However, at this time, based on the nature of the Company's operations, the adoption of ASU 2014-09 is not expected to have a material impact on the amount or timing of revenue recognized or the Company's revenue recognition policies.
Stock Plans, Policy	The Company recognizes stock compensation expense based on an estimate of the fair value of awards granted to employees and directors under the Company’s stock option, director restricted stock and employee stock purchase rights plans. The expense, adjusted for expected forfeitures, is recognized on a straight-line basis over the stock awards' vesting period. The forfeiture assumption used to calculate compensation expense is primarily based on historical pre-vesting employee forfeiture patterns.
Cash Equivalents, Policy	Cash equivalents consist of highly liquid investments with a maturity of three months or less at date of purchase.
Short-term Investments, Policy	Short-term investments have a maturity of greater than three months at date of purchase.
Segment Reporting, Policy	The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, net revenues 1 , operating income, identifiable assets, capital expenditures, depreciation and amortization and equity generated in each of these geographical areas when evaluating the effectiveness of geographic management. The Company charges its subsidiaries and affiliates for services rendered in the United States on a cost recovery basis. Transactions among the Company’s various offices are conducted using the same arms-length pricing methodologies the Company uses when its offices transact business with independent agents.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Share-based Compensation [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Methods Used	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Nine months ended September 30, 2015 2014 Dividend yield 1.60 % 1.50 - 1.51% Volatility - stock option plans 29 - 34% 36 % Volatility - stock purchase rights plans 20 % 20 % Risk free interest rates 0.30 - 2.04% 0.11 - 2.27% Expected life (years) - stock option plans 6.41 - 7.47 6.52 - 7.43 Expected life (years) - stock purchase rights plans 1 1 Weighted average fair value of stock options granted during the period $ 13.44 $ 14.08 Weighted average fair value of stock purchase rights granted during the period $ 10.45 $ 9.60
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Total stock compensation expense and the total related tax benefit recognized are as follows: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Stock compensation expense $ 10,919 $ 10,049 $ 32,489 $ 32,220 Recognized tax benefit $ 1,571 $ 988 $ 4,305 $ 3,115

Basic and Diluted Earnings pe17

Basic and Diluted Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerator and the denominator of the basic and diluted per share computations for earnings attributable to shareholders: Three months ended September 30, (Amounts in thousands, except share and per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2015 Basic earnings attributable to shareholders $ 118,310 188,424,400 $ 0.63 Effect of dilutive potential common shares — 1,217,374 — Diluted earnings attributable to shareholders $ 118,310 189,641,774 $ 0.62 2014 Basic earnings attributable to shareholders $ 102,381 194,419,071 $ 0.53 Effect of dilutive potential common shares — 582,196 — Diluted earnings attributable to shareholders $ 102,381 195,001,267 $ 0.53 Nine months ended September 30, (Amounts in thousands, except share and per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2015 Basic earnings attributable to shareholders $ 342,774 190,231,986 $ 1.80 Effect of dilutive potential common shares — 1,215,810 — Diluted earnings attributable to shareholders $ 342,774 191,447,796 $ 1.79 2014 Basic earnings attributable to shareholders $ 277,507 197,305,251 $ 1.41 Effect of dilutive potential common shares — 648,559 — Diluted earnings attributable to shareholders $ 277,507 197,953,810 $ 1.40
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potential common shares have been excluded from the computation of diluted earnings per share because the effect would have been antidilutive: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Shares 8,379,877 14,886,109 9,713,102 16,532,462

Components of Equity (Tables)

Components of Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Components of Equity Disclosure	The components of equity for the nine months ended September 30, 2015 and 2014 are as follows: Shareholders’ equity Noncontrolling interest Total equity Balance at December 31, 2014 $ 1,868,408 3,200 1,871,608 Exercise of stock options 88,851 — 88,851 Issuance of shares under stock purchase plan 25,850 — 25,850 Shares repurchased under provisions of stock repurchase plans (415,475 ) — (415,475 ) Stock compensation expense 32,489 — 32,489 Tax benefits from stock plans, net 1,191 — 1,191 Net earnings 342,774 1,623 344,397 Other comprehensive loss (36,262 ) (819 ) (37,081 ) Dividends paid ($0.36 per share) (68,781 ) — (68,781 ) Distributions to noncontrolling interest — (857 ) (857 ) Balance at September 30, 2015 $ 1,839,045 3,147 1,842,192 Balance at December 31, 2013 $ 2,084,783 1,548 2,086,331 Exercise of stock options 34,669 — 34,669 Issuance of shares under stock purchase plan 23,800 — 23,800 Shares repurchased under provisions of stock repurchase plans (475,160 ) — (475,160 ) Stock compensation expense 32,220 — 32,220 Tax benefits from stock plans, net 1,031 — 1,031 Net earnings 277,507 1,213 278,720 Other comprehensive loss (15,513 ) (119 ) (15,632 ) Dividends paid ($0.32 per share) (62,807 ) — (62,807 ) Purchase of noncontrolling interest 843 843 Distributions to noncontrolling interest — (85 ) (85 ) Balance at September 30, 2014 $ 1,901,373 2,557 1,903,930

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair value of Cash and Cash Equivalents by Balance Sheet Grouping	Cash, cash equivalents and short-term investments consist of the following: September 30, 2015 December 31, 2014 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 487,243 487,243 531,312 531,312 Corporate commercial paper 430,387 430,428 356,468 356,536 Time deposits 51,053 51,053 39,327 39,327 Total cash and cash equivalents 968,683 968,724 927,107 927,175 Short-Term Investments: Corporate commercial paper 8,239 8,245 40,295 40,350 Time deposits 21 21 41 41 Total short-term investments 8,260 8,266 40,336 40,391 Total $ 976,943 976,990 967,443 967,566

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information regarding the Company’s operations by geographic area is as follows: (in thousands) UNITED STATES OTHER NORTH AMERICA LATIN AMERICA NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- NATIONS CONSOLI- DATED Three months ended September 30, 2015: Revenues from unaffiliated customers $ 441,097 56,818 24,681 648,096 158,011 234,334 88,295 — 1,651,332 Transfers between geographic areas 29,168 3,492 4,991 5,206 6,289 11,125 5,459 (65,730 ) — Total revenues $ 470,265 60,310 29,672 653,302 164,300 245,459 93,754 (65,730 ) 1,651,332 Net revenues 1 $ 232,912 32,713 17,115 135,488 45,970 77,250 28,533 — 569,981 Operating income $ 65,389 11,905 5,007 69,690 18,574 14,188 7,140 — 191,893 Identifiable assets at period end $ 1,385,157 108,644 56,987 472,189 140,206 427,053 229,670 7,112 2,827,018 Capital expenditures $ 6,196 658 222 711 291 1,223 245 — 9,546 Depreciation and amortization $ 7,439 363 268 1,336 531 1,120 418 — 11,475 Equity $ 1,144,466 64,384 35,890 250,362 103,457 148,287 126,321 (30,975 ) 1,842,192 Three months ended September 30, 2014: Revenues from unaffiliated customers $ 438,882 55,209 22,962 670,763 174,839 259,960 82,490 — 1,705,105 Transfers between geographic areas 24,847 2,867 5,194 6,116 6,814 9,783 5,171 (60,792 ) — Total revenues $ 463,729 58,076 28,156 676,879 181,653 269,743 87,661 (60,792 ) 1,705,105 Net revenues 1 $ 215,320 27,323 16,792 106,225 42,023 80,024 25,549 — 513,256 Operating income $ 68,972 7,779 4,890 45,153 12,073 14,921 5,343 — 159,131 Identifiable assets at period end $ 1,333,124 113,621 53,939 580,260 152,236 476,799 204,378 11,696 2,926,053 Capital expenditures $ 3,171 361 369 1,648 1,247 1,016 443 — 8,255 Depreciation and amortization $ 8,369 303 226 1,493 523 1,391 436 — 12,741 Equity $ 1,074,837 75,848 34,218 341,092 111,556 185,332 114,229 (33,182 ) 1,903,930 (in thousands) UNITED STATES OTHER NORTH AMERICA LATIN AMERICA NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- NATIONS CONSOLI- DATED Nine months ended September 30, 2015: Revenues from unaffiliated customers $ 1,334,900 170,351 73,076 1,943,441 524,254 716,373 258,016 — 5,020,411 Transfers between geographic areas 89,329 9,991 15,171 16,330 18,677 31,478 15,638 (196,614 ) — Total revenues $ 1,424,229 180,342 88,247 1,959,771 542,931 747,851 273,654 (196,614 ) 5,020,411 Net revenues 1 $ 681,868 93,967 51,159 377,384 135,114 229,745 82,371 — 1,651,608 Operating income $ 193,117 33,433 15,804 187,343 48,594 44,846 20,355 — 543,492 Identifiable assets at period end $ 1,385,157 108,644 56,987 472,189 140,206 427,053 229,670 7,112 2,827,018 Capital expenditures $ 20,232 2,602 1,408 1,476 1,599 3,292 1,294 — 31,903 Depreciation and amortization $ 22,171 965 784 4,114 1,609 3,542 1,239 — 34,424 Equity $ 1,144,466 64,384 35,890 250,362 103,457 148,287 126,321 (30,975 ) 1,842,192 Nine months ended September 30, 2014: Revenues from unaffiliated customers $ 1,256,075 162,136 65,594 1,863,077 468,152 744,466 236,391 — 4,795,891 Transfers between geographic areas 67,266 7,829 15,965 17,170 20,072 28,931 14,638 (171,871 ) — Total revenues $ 1,323,341 169,965 81,559 1,880,247 488,224 773,397 251,029 (171,871 ) 4,795,891 Net revenues 1 $ 607,508 79,017 48,797 297,117 121,261 234,313 74,543 — 1,462,556 Operating income $ 180,650 23,155 14,425 124,528 36,371 41,515 16,133 — 436,777 Identifiable assets at period end $ 1,333,124 113,621 53,939 580,260 152,236 476,799 204,378 11,696 2,926,053 Capital expenditures $ 12,646 1,047 841 5,691 2,221 3,116 1,088 — 26,650 Depreciation and amortization $ 24,100 879 665 4,471 1,739 4,376 1,310 — 37,540 Equity $ 1,074,837 75,848 34,218 341,092 111,556 185,332 114,229 (33,182 ) 1,903,930
Schedule of Net Revenues Calculation	The following table presents the calculation of consolidated net revenues: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total revenues $ 1,651,332 $ 1,705,105 $ 5,020,411 $ 4,795,891 Expenses: Airfreight services 464,161 516,969 1,484,150 1,503,064 Ocean freight and ocean services 416,075 475,460 1,294,887 1,266,551 Customs brokerage and other services 201,115 199,420 589,766 563,720 Net revenues $ 569,981 $ 513,256 $ 1,651,608 $ 1,462,556

Summary of Significant Accoun21

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Accounts receivable, allowance for doubtful accounts	$ 7,309	$ 7,119

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	May. 21, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			2,955,750	2,289,600
Issuance of shares under stock purchase plan			699,438	671,775
Stock Option Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant					3,000,000
Directors' Restricted Stock Plan 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted to independent directors	33,848	30,702

Share-Based Compensation - Assu

Share-Based Compensation - Assumptions to Estimate Fair Value of Option Grant on Date of Grant Using Black Scholes Option Pricing Model (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rates lower end	0.30%	0.11%
Risk free interest rates upper end	2.04%	2.27%
Weighted average fair value of stock options granted during the period	$ 13.44	$ 14.08
Lower end
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.60%	1.50%
Upper end
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.60%	1.51%
Employee Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility lower end - stock option plans	29.00%	36.00%
Volatility upper end - stock option plans	34.00%	36.00%
Employee Stock Option Plan | Lower end
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years 4 months 29 days	6 years 6 months 8 days
Employee Stock Option Plan | Upper end
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	7 years 5 months 21 days	7 years 5 months 6 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility - stock purchase rights plans	20.00%	20.00%
Expected life (years)	1 year	1 year
Weighted average fair value of stock purchase rights granted during the period	$ 10.45	$ 9.60

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Compensation Expense and Total Related Tax Benefit Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock compensation expense	$ 10,919	$ 10,049	$ 32,489	$ 32,220
Recognized tax benefit	$ 1,571	$ 988	$ 4,305	$ 3,115

Basic and Diluted Earnings pe25

Basic and Diluted Earnings per Share - Numerator and Denominator of the Basic and Diluted Per Share Computations for Earnings Attributable to Shareholders Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Earnings Attributable to Shareholders
Basic earnings attributable to shareholders	$ 118,310	$ 102,381	$ 342,774	$ 277,507
Diluted earnings attributable to shareholders	$ 118,310	$ 102,381	$ 342,774	$ 277,507
Weighted Average Shares
Weighted average basic shares outstanding	188,424,400	194,419,071	190,231,986	197,305,251
Effect of dilutive potential common shares	1,217,374	582,196	1,215,810	648,559
Weighted average diluted shares outstanding	189,641,774	195,001,267	191,447,796	197,953,810
Earnings Per Share
Basic earnings attributable to shareholders per share	$ 0.63	$ 0.53	$ 1.80	$ 1.41
Diluted earnings attributable to shareholders per share	$ 0.62	$ 0.53	$ 1.79	$ 1.40

Basic and Diluted Earnings pe26

Basic and Diluted Earnings per Share - Shares Excluded from Computation of Diluted earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares	8,379,877	14,886,109	9,713,102	16,532,462

Components of Equity (Detail)

Components of Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 1,871,608	$ 2,086,331
Exercise of stock options			88,851	34,669
Issuance of shares under stock purchase plan			25,850	23,800
Shares repurchased under provisions of stock repurchase plans			(415,475)	(475,160)
Stock compensation expense			32,489	32,220
Tax benefits from stock plans, net			1,191	1,031
Net earnings	$ 118,736	$ 102,797	344,397	278,720
Other comprehensive loss	(21,692)	(18,351)	(37,081)	(15,632)
Dividends paid			(68,781)	(62,807)
Purchase of noncontrolling interest				843
Distributions to noncontrolling interest			(857)	(85)
Ending Balance	1,842,192	1,903,930	1,842,192	1,903,930
Shareholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			1,868,408	2,084,783
Exercise of stock options			88,851	34,669
Issuance of shares under stock purchase plan			25,850	23,800
Shares repurchased under provisions of stock repurchase plans			(415,475)	(475,160)
Stock compensation expense			32,489	32,220
Tax benefits from stock plans, net			1,191	1,031
Net earnings			342,774	277,507
Other comprehensive loss			(36,262)	(15,513)
Dividends paid			(68,781)	(62,807)
Purchase of noncontrolling interest				843
Ending Balance	1,839,045	1,901,373	1,839,045	1,901,373
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			3,200	1,548
Net earnings			1,623	1,213
Other comprehensive loss			(819)	(119)
Distributions to noncontrolling interest			(857)	(85)
Ending Balance	$ 3,147	$ 2,557	$ 3,147	$ 2,557

Components Of Equity - Addition

Components Of Equity - Additional Information (Detail) - $ / shares	Nov. 03, 2015	May. 06, 2015	May. 07, 2014	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Date of declaration of dividends		May 6, 2015	May 7, 2014
Dividend declared per share		$ 0.36	$ 0.32
Date of dividend payment		Jun. 15, 2015	Jun. 16, 2014
Dividends payable to shareholders date of record		Jun. 1, 2015	Jun. 2, 2014
Non-Discretionary Plan
Class of Stock [Line Items]
Shares repurchased				2,242,579	1,364,974
Average price per share				$ 47.93	$ 42.73
Discretionary Plan
Class of Stock [Line Items]
Shares repurchased				6,395,506	10,057,648
Average price per share				$ 48.16	$ 41.44
Expected common stock shares issued and outstanding				180,000,000
Subsequent Event
Class of Stock [Line Items]
Date of declaration of dividends	Nov. 3, 2015
Dividend declared per share	$ 0.36
Date of dividend payment	Dec. 15, 2015
Dividends payable to shareholders date of record	Dec. 1, 2015

Fair Value of Financial Instr29

Fair Value of Financial Instruments - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	$ 968,683	$ 985,727	$ 927,107	$ 990,480	$ 970,561	$ 1,247,652
Total short-term investments	8,260		40,336
Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	968,683		927,107
Total short-term investments	8,260		40,336
Total	976,943		967,443
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	968,724		927,175
Total short-term investments	8,266		40,391
Total	976,990		967,566
Cash and Cash Equivalents | Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and overnight deposits	487,243		531,312
Corporate commercial paper	430,387		356,468
Time deposits	51,053		39,327
Cash and Cash Equivalents | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and overnight deposits	487,243		531,312
Corporate commercial paper	430,428		356,536
Time deposits	51,053		39,327
Short-term Investments | Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate commercial paper	8,239		40,295
Time deposits	21		41
Short-term Investments | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate commercial paper	8,245		40,350
Time deposits	$ 21		$ 41

Business Segment Information -

Business Segment Information - Financial Information Regarding Company's Operations by Geographic Area (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total revenues		$ 1,651,332	$ 1,705,105	$ 5,020,411	$ 4,795,891
Net revenues	[1]	569,981	513,256	1,651,608	1,462,556
Operating income		191,893	159,131	543,492	436,777
Identifiable assets at period end		2,827,018	2,926,053	2,827,018	2,926,053	$ 2,890,905
Capital expenditures		9,546	8,255	31,903	26,650
Depreciation and amortization		11,475	12,741	34,424	37,540
Equity		1,842,192	1,903,930	1,842,192	1,903,930	$ 1,871,608	$ 2,086,331
United States Segment
Segment Reporting Information [Line Items]
Total revenues		441,097	438,882	1,334,900	1,256,075
Other North America Segment
Segment Reporting Information [Line Items]
Total revenues		56,818	55,209	170,351	162,136
Latin America Segment
Segment Reporting Information [Line Items]
Total revenues		24,681	22,962	73,076	65,594
North Asia Segment
Segment Reporting Information [Line Items]
Total revenues		648,096	670,763	1,943,441	1,863,077
South Asia Segment
Segment Reporting Information [Line Items]
Total revenues		158,011	174,839	524,254	468,152
Europe Segment
Segment Reporting Information [Line Items]
Total revenues		234,334	259,960	716,373	744,466
Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Total revenues		88,295	82,490	258,016	236,391
Geography Eliminations | United States Segment
Segment Reporting Information [Line Items]
Total revenues		29,168	24,847	89,329	67,266
Geography Eliminations | Other North America Segment
Segment Reporting Information [Line Items]
Total revenues		3,492	2,867	9,991	7,829
Geography Eliminations | Latin America Segment
Segment Reporting Information [Line Items]
Total revenues		4,991	5,194	15,171	15,965
Geography Eliminations | North Asia Segment
Segment Reporting Information [Line Items]
Total revenues		5,206	6,116	16,330	17,170
Geography Eliminations | South Asia Segment
Segment Reporting Information [Line Items]
Total revenues		6,289	6,814	18,677	20,072
Geography Eliminations | Europe Segment
Segment Reporting Information [Line Items]
Total revenues		11,125	9,783	31,478	28,931
Geography Eliminations | Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Total revenues		5,459	5,171	15,638	14,638
Operating Segments | United States Segment
Segment Reporting Information [Line Items]
Total revenues		470,265	463,729	1,424,229	1,323,341
Net revenues	[1]	232,912	215,320	681,868	607,508
Operating income		65,389	68,972	193,117	180,650
Identifiable assets at period end		1,385,157	1,333,124	1,385,157	1,333,124
Capital expenditures		6,196	3,171	20,232	12,646
Depreciation and amortization		7,439	8,369	22,171	24,100
Equity		1,144,466	1,074,837	1,144,466	1,074,837
Operating Segments | Other North America Segment
Segment Reporting Information [Line Items]
Total revenues		60,310	58,076	180,342	169,965
Net revenues	[1]	32,713	27,323	93,967	79,017
Operating income		11,905	7,779	33,433	23,155
Identifiable assets at period end		108,644	113,621	108,644	113,621
Capital expenditures		658	361	2,602	1,047
Depreciation and amortization		363	303	965	879
Equity		64,384	75,848	64,384	75,848
Operating Segments | Latin America Segment
Segment Reporting Information [Line Items]
Total revenues		29,672	28,156	88,247	81,559
Net revenues	[1]	17,115	16,792	51,159	48,797
Operating income		5,007	4,890	15,804	14,425
Identifiable assets at period end		56,987	53,939	56,987	53,939
Capital expenditures		222	369	1,408	841
Depreciation and amortization		268	226	784	665
Equity		35,890	34,218	35,890	34,218
Operating Segments | North Asia Segment
Segment Reporting Information [Line Items]
Total revenues		653,302	676,879	1,959,771	1,880,247
Net revenues	[1]	135,488	106,225	377,384	297,117
Operating income		69,690	45,153	187,343	124,528
Identifiable assets at period end		472,189	580,260	472,189	580,260
Capital expenditures		711	1,648	1,476	5,691
Depreciation and amortization		1,336	1,493	4,114	4,471
Equity		250,362	341,092	250,362	341,092
Operating Segments | South Asia Segment
Segment Reporting Information [Line Items]
Total revenues		164,300	181,653	542,931	488,224
Net revenues	[1]	45,970	42,023	135,114	121,261
Operating income		18,574	12,073	48,594	36,371
Identifiable assets at period end		140,206	152,236	140,206	152,236
Capital expenditures		291	1,247	1,599	2,221
Depreciation and amortization		531	523	1,609	1,739
Equity		103,457	111,556	103,457	111,556
Operating Segments | Europe Segment
Segment Reporting Information [Line Items]
Total revenues		245,459	269,743	747,851	773,397
Net revenues	[1]	77,250	80,024	229,745	234,313
Operating income		14,188	14,921	44,846	41,515
Identifiable assets at period end		427,053	476,799	427,053	476,799
Capital expenditures		1,223	1,016	3,292	3,116
Depreciation and amortization		1,120	1,391	3,542	4,376
Equity		148,287	185,332	148,287	185,332
Operating Segments | Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Total revenues		93,754	87,661	273,654	251,029
Net revenues	[1]	28,533	25,549	82,371	74,543
Operating income		7,140	5,343	20,355	16,133
Identifiable assets at period end		229,670	204,378	229,670	204,378
Capital expenditures		245	443	1,294	1,088
Depreciation and amortization		418	436	1,239	1,310
Equity		126,321	114,229	126,321	114,229
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues		(65,730)	(60,792)	(196,614)	(171,871)
Identifiable assets at period end		7,112	11,696	7,112	11,696
Equity		$ (30,975)	$ (33,182)	$ (30,975)	$ (33,182)
[1]	Net revenues are a non-GAAP measure calculated as revenues less directly related operations expenses attributable to the Company's principal services. The Company's management believes that net revenues are a better measure than total revenues when evaluating the Company's operating segment performance since total revenues earned as a freight consolidator include the carriers' charges for carrying the shipment, whereas revenues earned in other capacities include primarily the commissions and fees earned by the Company. Net revenue is one of the Company's primary operational and financial measures and demonstrates the Company's ability to concentrate and leverage purchasing power through effective consolidation of shipments from customers utilizing a variety of transportation carriers and optimal routings.

Business Segment Information 31

Business Segment Information - Net Revenues Calculation (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Revenues Calculation [Line Items]
Total revenues		$ 1,651,332	$ 1,705,105	$ 5,020,411	$ 4,795,891
Airfreight services		464,161	516,969	1,484,150	1,503,064
Ocean freight and ocean services		416,075	475,460	1,294,887	1,266,551
Customs brokerage and other services		201,115	199,420	589,766	563,720
Net revenues	[1]	$ 569,981	$ 513,256	$ 1,651,608	$ 1,462,556
[1]	Net revenues are a non-GAAP measure calculated as revenues less directly related operations expenses attributable to the Company's principal services. The Company's management believes that net revenues are a better measure than total revenues when evaluating the Company's operating segment performance since total revenues earned as a freight consolidator include the carriers' charges for carrying the shipment, whereas revenues earned in other capacities include primarily the commissions and fees earned by the Company. Net revenue is one of the Company's primary operational and financial measures and demonstrates the Company's ability to concentrate and leverage purchasing power through effective consolidation of shipments from customers utilizing a variety of transportation carriers and optimal routings.