Expeditors International of Washington (EXPD) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 05, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	EXPD
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
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		172,590,076

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 990,612	$ 1,051,099
Accounts receivable, less allowance for doubtful accounts of $13,696 at September 30, 2018 and $12,858 at December 31, 2017	1,528,524	1,414,741
Deferred contract costs	168,090	0
Other	59,247	75,612
Total current assets	2,746,473	2,541,452
Property and equipment, less accumulated depreciation and amortization of $441,433 at September 30, 2018 and $420,282 at December 31, 2017	510,328	525,203
Goodwill	7,927	7,927
Deferred Federal and state income taxes, net	43,293	13,207
Other assets, net	26,779	29,219
Total assets	3,334,800	3,117,008
Current Liabilities:
Accounts payable	934,509	866,305
Accrued expenses, primarily salaries and related costs	228,785	206,320
Contract liabilities	195,035	0
Federal, state and foreign income taxes	19,139	20,494
Total current liabilities	1,377,468	1,093,119
Noncurrent Federal income taxes payable	0	29,516
Commitments and contingencies
Shareholders' Equity:
Preferred stock, none issued	0	0
Common stock, par value $0.01 per share. Issued and outstanding 172,564 shares at September 30, 2018 and 176,374 shares at December 31, 2017	1,726	1,764
Additional paid-in capital	1,832	546
Retained earnings	2,053,389	2,063,512
Accumulated other comprehensive loss	(101,098)	(73,964)
Total shareholders’ equity	1,955,849	1,991,858
Noncontrolling interest	1,483	2,515
Total equity	1,957,332	1,994,373
Total liabilities and equity	$ 3,334,800	$ 3,117,008

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 13,696	$ 12,858
Property and equipment, accumulated depreciation	$ 441,433	$ 420,282
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	172,564	176,374
Common stock, shares outstanding	172,564	176,374

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,090,947	$ 1,802,166	$ 5,902,768	$ 5,019,577
Operating Expenses:
Salaries and related costs	351,577	319,050	1,042,420	930,159
Rent and occupancy costs	38,202	30,533	113,186	87,826
Depreciation and amortization	13,335	12,272	40,833	36,241
Selling and promotion	10,632	10,608	32,385	32,476
Other	44,414	39,784	131,318	102,429
Total operating expenses	1,887,793	1,615,271	5,323,212	4,518,328
Operating income	203,154	186,895	579,556	501,249
Other Income (Expense):
Interest income	4,704	3,444	14,171	9,565
Other, net	566	96	2,357	2,584
Other income (expense), net	5,270	3,540	16,528	12,149
Earnings before income taxes	208,424	190,435	596,084	513,398
Income tax expense	45,357	69,829	155,871	190,470
Net earnings	163,067	120,606	440,213	322,928
Less net earnings attributable to the noncontrolling interest	375	343	1,224	550
Net earnings attributable to shareholders	$ 162,692	$ 120,263	$ 438,989	$ 322,378
Diluted earnings attributable to shareholders per share	$ 0.92	$ 0.66	$ 2.46	$ 1.77
Basic earnings attributable to shareholders per share	0.94	0.67	2.51	1.79
Dividends declared and paid per common share	$ 0	$ 0	$ 0.45	$ 0.42
Weighted average diluted shares outstanding	177,173	181,788	178,447	181,951
Weighted average basic shares outstanding	173,394	179,416	174,675	179,827
Airfreight services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 833,338	$ 735,164	$ 2,366,326	$ 2,022,577
Operating Expenses:
Direct Operating Costs	620,554	547,595	1,727,383	1,490,417
Ocean freight and ocean services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	585,810	563,386	1,636,701	1,585,730
Operating Expenses:
Direct Operating Costs	435,313	411,061	1,199,887	1,163,051
Customs brokerage and other services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	671,799	503,616	1,899,741	1,411,270
Operating Expenses:
Direct Operating Costs	$ 373,766	$ 244,368	$ 1,035,800	$ 675,729

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 163,067	$ 120,606	$ 440,213	$ 322,928
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax of $2,904 and $4,128 for the three months ended September 30, 2018 and 2017 and $12,563 and $14,019 for the nine months ended September 30, 2018 and 2017	(10,929)	7,489	(28,129)	25,585
Other comprehensive (loss) income	(10,929)	7,489	(28,129)	25,585
Comprehensive income	152,138	128,095	412,084	348,513
Less comprehensive (loss) income attributable to the noncontrolling interest	(167)	285	230	503
Comprehensive income attributable to shareholders	$ 152,305	$ 127,810	$ 411,854	$ 348,010

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Foreign currency translation adjustments, tax	$ (2,904)	$ 4,128	$ (12,563)	$ 14,019

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating Activities:
Net earnings	$ 163,067	$ 120,606	$ 440,213	$ 322,928
Adjustments to reconcile net earnings to net cash from operating activities:
Provision for losses on accounts receivable	1,969	1,741	2,232	3,187
Deferred income tax expense	(23,610)	(28,854)	(17,522)	(16,000)
Stock compensation expense	13,902	11,210	43,171	39,036
Depreciation and amortization	13,335	12,272	40,833	36,241
Other, net	666	377	770	(148)
Changes in operating assets and liabilities:
Increase in accounts receivable	(210,092)	(126,102)	(156,321)	(123,790)
Increase in accounts payable and accrued expenses	115,629	61,833	127,860	96,132
Increase in deferred contract costs	(34,623)	0	(51,235)	0
Increase in contract liabilities	36,256	0	49,149	0
Increase (decrease) in income taxes payable, net	9,292	38,149	(9,258)	10,814
Decrease (increase) in other current assets	930	(5,872)	862	(6,147)
Net cash from operating activities	86,721	85,360	470,754	362,253
Investing Activities:
Purchase of property and equipment	(11,733)	(34,462)	(37,642)	(67,603)
Other, net	1,109	(261)	(886)	(892)
Net cash from investing activities	(10,624)	(34,723)	(38,528)	(68,495)
Financing Activities:
Proceeds from issuance of common stock	47,806	65,915	169,566	162,781
Repurchases of common stock	(147,828)	(202,776)	(555,760)	(340,736)
Dividends paid	0	0	79,180	75,726
Payments for taxes related to net share settlement of equity awards	0	0	(3,215)	0
Distributions to noncontrolling interest	(633)	0	(633)	0
Purchase of noncontrolling interest	(613)	0	(613)	0
Net cash from financing activities	(101,268)	(136,861)	(469,835)	(253,681)
Effect of exchange rate changes on cash and cash equivalents	(5,071)	4,758	(22,878)	18,932
(Decrease) increase in cash and cash equivalents	(30,242)	(81,466)	(60,487)	59,009
Cash and cash equivalents at beginning of period	1,020,854	1,114,910	1,051,099	974,435
Cash and cash equivalents at end of period	990,612	1,033,444	990,612	1,033,444
Taxes Paid:
Income taxes	$ 59,313	$ 58,257	$ 183,444	$ 190,911

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
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 23, 2018. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar amounts in the notes are presented in thousands except for per share data or unless otherwise specified. B. Revenue Recognition Effective January 1, 2018, revenue is recognized upon transfer of control of promised services to customers, which occurs over time. The Company has determined that in general each shipment transaction or service order constitutes a separate contract with the customer. However, when the Company provides multiple services to a customer, different contracts may be present for different services. The Company combines the contracts, which form a single performance obligation, and accounts for the contracts as a single contract when certain criteria are met. The Company typically satisfies its performance obligations as services are rendered over time. A typical shipment would include services rendered at origin, such as pick-up and delivery to port, freight services from origin to destination port and destination services, such as customs clearance and final delivery. The Company measures the performance of its obligations as services are completed over the life of a shipment, including services at origin, freight and destination. This method of measurement of progress depicts the pattern of the Company's actual performance under the contracts with the customer. There are no significant judgments involved in measuring the progress of the performance obligations. Amounts allocated to the services for each performance obligation are typically based on standalone selling prices. The Company does not have significant variable consideration in its contracts. Taxes assessed concurrently with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Typically, transaction prices for each of the Company's services are quoted as separate components; however, customers on occasion will request an all-inclusive rate for a set of services known in the industry as “door-to-door service.” This means that the customer is billed a single rate for all services from pickup at origin to delivery at destination. In these instances, the transaction price is allocated to each service on a relative selling price basis. The Company fulfills nearly all of its performance obligations within a one to two month-period and contracts with customers have an original expected duration of less than one year. The Company generally has an unconditional right to consideration when the services are initiated or soon thereafter. The amount due from the customer is recorded as accounts receivable. The amounts related to services that are not yet completed at the reporting date are presented as contract liabilities, with corresponding direct costs to fulfill the performance obligation that will be satisfied in the future presented as deferred contract costs. The Company generally does not incur incremental costs to obtain the contract with the customer. The Company may incur costs to fulfill the contract with the customers, such as set-up costs. However, the amount incurred is insignificant to the Company’s consolidated financial statements. The Company evaluates whether amounts billed to customers should be reported as gross or net revenue. Generally, revenue is recorded on a gross basis when the Company is primarily responsible for fulfilling the promise to provide the services, when it assumes risk of loss, when it has discretion in setting the prices for the services to the customers, and when the Company has the ability to direct the use of the services provided by the third party. C. 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 customers to pay deteriorates. The Company has recorded an allowance for doubtful accounts in the amounts of $13,696 as of September 30, 2018 and $12,858 as of December 31, 2017 . Additions and write-offs have not been significant in the periods presented. D. 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 disclosures 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 liabilities for the portion of the related exposure that the Company has self-insured, accrual of various tax liabilities including provisional estimates associated with the U.S. enacted Tax Cuts and Jobs Act (the 2017 Tax Act), accrual of loss contingencies and calculation of share-based compensation expense. Actual results could be materially different from the estimated provisions and accruals recorded. E. Recent Accounting Pronouncements Leases In February 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) changing the accounting for leases and includes a requirement to record all leases exceeding one year on the consolidated balance sheet as assets and liabilities. The Company expects to adopt the standard using a modified retrospective method and initially apply the standard beginning January 1, 2019. Upon adoption, the Company will record right-of-use assets equal to the present value of its lease payments and corresponding lease liabilities on its consolidated balance sheet. As of September 30, 2018 , undiscounted future minimum lease payments under noncancelable operating leases totaled approximately $294 million . On an on-going basis the Company does not expect any material changes to its operating results or cash flows from adoption of this standard. The Company is currently evaluating its existing lease portfolio, including accumulating all of the necessary information required to make appropriate accounting policy elections and properly account for the leases under this new standard. Additionally, the Company is implementing an enterprise-wide lease management system that, along with accompanying process changes, will assist in the accounting and internal control changes necessary to meet the reporting and disclosure requirements of the new standard when it becomes effective. Taxes In February 2018, the FASB issued an ASU, which amends existing guidance for reporting comprehensive income to reflect changes resulting from the 2017 Tax Act. The amendment provides the option to reclassify stranded tax effects resulting from the 2017 Tax Act within accumulated other comprehensive income (AOCI) to retained earnings. New disclosures will be required upon adoption, including the accounting policy for releasing income tax effects from AOCI, whether reclassification of stranded income tax effects is elected, and information about other income tax effect reclassifications. The amendment will become effective for the Company on January 1, 2019, and the Company will adopt in the first quarter of 2019 as required. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements and disclosures.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenues Effective January 1, 2018, the Company adopted Topic 606 Revenue from Contracts with Customers (Topic 606). The adoption of Topic 606 did not materially impact the Company's revenue recognition policy. The Company adopted the standard using the modified retrospective transition method applied to those contracts not completed as of January 1, 2018, resulting in a $22 million adjustment to the opening balance of retained earnings and the recording of deferred contract costs and contract liabilities of $135 million and $165 million , respectively. The Company satisfied nearly all performance obligations for the contract liabilities recorded upon adoption at January 1, 2018, and recognized the corresponding revenues and costs during the first quarter. The Company also satisfied nearly all performance obligations for the contract liabilities recorded as of June 30, 2018 and recognized the corresponding revenues and costs during the third quarter. In conjunction with the adoption of Topic 606, the Company also changed its presentation of certain warehouse and distribution revenues from a net to a gross basis, which increased customs brokerage and other services revenues and operating expenses by approximately $50 million in each of the first three quarters of 2018. Comparative prior year information has not been adjusted and continues to be reported under the Company's historical revenue recognition policies described in Note 1.E to the Company's Form 10-K as filed on February 23, 2018. The Company disaggregates its revenues by its three primary service categories in the consolidated financial statements: airfreight, ocean freight and ocean services and customs brokerage and other. Revenues by geographic location are presented within business segment information in Note 10.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2018
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has historically granted the majority of its share-based awards during the second quarter of each fiscal year. In the nine-month periods ended September 30, 2018 and 2017, the Company awarded 461 and 583 restricted stock units (RSU), respectively, under the Omnibus Incentive Plan (2017 Plan), which was approved by shareholders in 2017. The RSU, awarded to certain employees, were granted at a weighted-average grant date fair value of $69.58 in 2018 and $54.04 in 2017. The RSU vest annually over 3 years based on continued employment and are settled upon vesting in shares of the Company's common stock on a one -for-one basis. The value of an RSU grant is based on the Company's stock price on the date of grant. Additionally, in the second quarter of 2018 and 2017, respectively, 25 and 38 fully vested shares were granted to non-employee directors. The Company also awarded 18 and 23 performance stock units (PSU) in 2018 and 2017, respectively, under the 2017 Plan. The PSU include performance conditions to be finally measured in 2020 and 2019, respectively. The final number of PSU will be determined using an adjustment factor of up to two times or down to 0.5 of the targeted PSU grant. If the minimum performance thresholds are not achieved, no shares will be issued. Each PSU will convert to one share of the Company's common stock upon vesting. 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 666 and 682 were issued in the three and nine-month periods ended September 30, 2018 and 2017. The fair value of the employee stock purchase rights granted was $17.49 and $11.69 per share in 2018 and 2017 , respectively. The Company recognizes stock compensation expense based on the fair value of awards granted to employees and directors under the Company’s omnibus incentive, stock option, director restricted stock and employee stock purchase rights plans. This expense, adjusted for expected forfeitures, is recognized in net earnings on a straight-line basis over the service periods as salaries and related costs. RSU awards to certain employees meeting specific retirement eligibility criteria at the time of grant are expensed immediately, as there is no substantive service period associated with those awards.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	Income Taxes In December 2017, the 2017 Tax Act was enacted in the United States. Among its many provisions, the 2017 Tax Act imposed a mandatory one-time transition tax on undistributed international earnings (Transition Tax), reduced the U.S. corporate income tax rate from 35% to 21% and created a territorial tax system. As a result of the enactment of the 2017 Tax Act, the Company recognized a provisional net income tax benefit of $39 million in 2017. Beginning January 1, 2018, foreign earnings of the Company's international subsidiaries are generally exempt from U.S. Federal income tax upon repatriation. Notwithstanding these changes, certain non-U.S. withholding taxes and foreign exchange gains and losses will continue to be applicable upon the future repatriation of foreign earnings. During 2018, the Internal Revenue Service (IRS) and the U.S. Department of Treasury (Treasury) issued additional guidelines and clarifying regulations related to the implementation of the 2017 Tax Act. The Company expects that additional guidance will continue to be issued in future periods. As this guidance is issued, the Company will continue to evaluate the information to determine whether any additional adjustments to its tax provisions are required. The 2017 Tax Act included provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries and for Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payments to affiliated foreign companies. Consistent with U.S. GAAP, the Company will treat BEAT as discrete adjustments to the income tax provision when incurred in future periods for which no deferred taxes are required to be provided and has made an accounting policy election to treat GILTI taxes in a similar manner. No provision for income taxes related to GILTI has been recorded through September 30, 2018. No provision for BEAT was recorded until the second quarter of 2018 when an estimated BEAT income tax expense of $2.0 million was recognized. This amount was reversed in the third quarter of 2018 based upon updated BEAT calculations and projections as of September 30, 2018. The Company elected to adopt the Securities and Exchange Commission issued guidance that allows for a measurement period, not to exceed one year after the enactment date of the 2017 Tax Act, to finalize the recording of the related tax impacts. The Company expects to finalize its tax positions and calculations in the fourth quarter of 2018 though a possibility remains that additional guidance and regulations could be issued beyond 2018 that could impact the amounts recorded. The tax effects for these provisional items are recorded as discrete adjustments to the income tax provision as information becomes known. The components of the provisional net income taxes recorded in 2017 and through the nine-month period ended September 30, 2018 are based on the best available information at the current time. As noted, guidance and interpretations have been issued throughout 2018 and more is expected to be released in future periods. Provisional items include amounts related to the mandatory repatriation of undistributed international earnings, certain foreign exchange gains or losses, foreign tax credits as well as the impacts on deferred taxes, for example 100% expensing of qualified assets. Based on additional guidance issued during the applicable periods related to the computation of the Transition Tax, the Company recorded additional provisional tax expense of $1.8 million in the first quarter of 2018 and a provisional tax benefit of $800 in the third quarter of 2018. In the second quarter of 2018, the Company reclassified its provisional liability associated with the Transition Tax from a long-term liability to a current obligation, offsetting its prepaid income tax balance, as a result of guidance issued by the IRS during that quarter. The Company's consolidated effective income tax rate was 21.8% and 26.1% , respectively, for the three and nine -month periods ended September 30, 2018 , as compared to 36.7% and 37.1% for the comparable periods in 2017. In addition to the lower U.S. federal tax rate that resulted from the 2017 Tax Act, the effective tax rate in 2018 benefited from significant share-based compensation deductions principally as a result of stock option exercises occurring during the second quarter of 2018, required discrete adjustments as a result of interpretations issued related to the 2017 Tax Act that included the recording of certain foreign tax credits earned as a result of withholding taxes paid on repatriated foreign earnings that totaled $7 million and a state income tax refund of $4 million settled during the third quarter of 2018. These amounts were partially offset by certain expenses that are no longer deductible under the 2017 Tax Act. As discussed above, some elements of the recorded impacts of the 2017 Tax Act remain provisional as of September 30, 2018. The final amounts of provisional as well as other recorded income tax amounts may differ, possibly materially, due to, among other things, changes in estimates, interpretations and assumptions the Company has made, changes in IRS or Treasury interpretations, the issuance of new guidance, legislative actions, changes in accounting standards or related interpretations in response to the 2017 Tax Act and future actions by states within the United States that have not currently adopted the 2017 Tax Act. For further information and discussion of the potential impact of the 2017 Tax Act, refer to “Item 1A. Risk Factors”, Note 5 to the consolidated financial statements and “Critical Accounting Estimates,” in the Company's 2017 Annual Report on Form 10-K.

Basic and Diluted Earnings per

Basic and Diluted Earnings per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic and Diluted Earnings per Share	Basic and Diluted Earnings per Share Diluted earnings attributable to shareholders per share is computed using the weighted average number of common shares and dilutive potential common shares outstanding. Dilutive potential shares represent outstanding stock options, including purchase options under the Company's employee stock purchase plan and unvested restricted stock units. Basic earnings attributable to shareholders per share is calculated using the weighted average number of common shares outstanding without taking into consideration dilutive potential common shares outstanding. 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 per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2018 Basic earnings attributable to shareholders $ 162,692 173,394 $ 0.94 Effect of dilutive potential common shares — 3,779 — Diluted earnings attributable to shareholders $ 162,692 177,173 $ 0.92 2017 Basic earnings attributable to shareholders $ 120,263 179,416 $ 0.67 Effect of dilutive potential common shares — 2,372 — Diluted earnings attributable to shareholders $ 120,263 181,788 $ 0.66 Nine months ended September 30, (Amounts in thousands, except per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2018 Basic earnings attributable to shareholders $ 438,989 174,675 $ 2.51 Effect of dilutive potential common shares — 3,772 — Diluted earnings attributable to shareholders $ 438,989 178,447 $ 2.46 2017 Basic earnings attributable to shareholders $ 322,378 179,827 $ 1.79 Effect of dilutive potential common shares — 2,124 — Diluted earnings attributable to shareholders $ 322,378 181,951 $ 1.77

Components of Equity

Components of Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Components of Equity	Components of Equity The components of equity for the nine months ended September 30, 2018 and 2017 are as follows: Shareholders’ equity Noncontrolling interest Total equity Balance at December 31, 2017 $ 1,991,858 2,515 1,994,373 Cumulative effect of accounting change (22,357 ) (105 ) (22,462 ) Exercise of stock options and release of restricted awards, net of shares withheld for employee taxes 133,060 — 133,060 Issuance of shares under stock purchase plan 33,292 — 33,292 Shares repurchased under provisions of stock repurchase plans (555,760 ) — (555,760 ) Stock compensation expense 43,171 — 43,171 Net earnings 438,989 1,224 440,213 Other comprehensive loss (27,135 ) (994 ) (28,129 ) Dividends paid ($0.45 per share) (79,180 ) (79,180 ) Purchase of noncontrolling interest (89 ) (524 ) (613 ) Distributions to noncontrolling interest — (633 ) (633 ) Balance at September 30, 2018 $ 1,955,849 1,483 1,957,332 Balance at December 31, 2016 $ 1,844,638 2,575 1,847,213 Exercise of stock options 134,014 — 134,014 Issuance of shares under stock purchase plan 28,767 28,767 Shares repurchased under provisions of stock repurchase plans (340,736 ) — (340,736 ) Stock compensation expense 39,036 — 39,036 Net earnings 322,378 550 322,928 Other comprehensive income 25,632 (47 ) 25,585 Dividends paid ($0.42 per share) $ (75,726 ) (75,726 ) Balance at September 30, 2017 $ 1,978,003 3,078 1,981,081 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, 2018 and 2017 , 2,386 and 2,902 shares were repurchased at an average price of $72.72 and $55.58 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 down to 170 million shares of common stock. On November 5, 2018, the Board of Directors amended the plan to further authorize repurchases down to 160 million shares of common stock. During the nine -month period ended September 30, 2018 , 5,378 shares were repurchased at an average price of $71.07 per share, compared to 3,189 shares at an average price of $56.26 per share during the same period in 2017. Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented. On May 8, 2018 , the Board of Directors declared a semi-annual dividend of $0.45 per share payable on June 15, 2018 to shareholders of record as of June 1, 2018 . On May 2, 2017 , the Board of Directors declared a semi-annual dividend of $0.42 per share payable on June 15, 2017 to shareholders of record as of June 1, 2017 . Subsequent to the end of the third quarter, on November 5, 2018 , the Board of Directors declared a semi-annual dividend of $0.45 per share payable on December 17, 2018 to shareholders of record as of December 3, 2018 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2018
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, accounts receivable, accounts payable and accrued expenses. The carrying value of these financial instruments approximates their fair value. All highly liquid investments with a maturity of three months or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents consist of the following: September 30, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 444,650 444,650 383,021 383,021 Corporate commercial paper 520,740 521,292 635,345 635,919 Time deposits 25,222 25,222 32,733 32,733 Total cash and cash equivalents $ 990,612 991,164 1,051,099 1,051,673 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).

Commitments

Commitments	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	Commitments The Company generally enters into short-term, unconditional purchase obligations with asset-based providers reserving space on a guaranteed basis. The pricing of these obligations varies to some degree with market conditions. Historically, the Company has met these obligations in the normal course of business within one year. Purchase obligations outstanding as of September 30, 2018 totaled $90 million . Additionally, the Company occupies offices and warehouse facilities under terms of operating leases expiring up to 2032 . At September 30, 2018, future minimum annual lease payments under all noncancelable leases are as follows: 2018 $ 19,731 2019 70,736 2020 58,479 2021 41,107 2022 31,585 Thereafter 72,412 $ 294,050

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2018
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, 2018 , the amounts accrued for these claims, lawsuits, government investigations and other legal matters are not significant to the Company's operations, cash flows 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, 2018
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. 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. Certain costs are allocated among the segments based on the relative value of the underlying services, which can include allocation based on actual costs incurred or estimated cost plus a profit margin. 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, 2018: Revenues from unaffiliated customers $ 597,183 88,877 39,389 741,997 198,537 312,724 112,240 — 2,090,947 Transfers between geographic areas 31,860 3,998 4,054 6,592 6,855 14,488 5,807 (73,654 ) — Total revenues $ 629,043 92,875 43,443 748,589 205,392 327,212 118,047 (73,654 ) 2,090,947 Net revenues 1 $ 283,807 34,411 15,808 146,890 47,166 99,794 34,055 (617 ) 661,314 Operating income $ 79,567 10,476 2,409 72,823 15,543 15,658 6,671 7 203,154 Identifiable assets at period end $ 1,694,556 174,402 53,322 540,465 156,887 508,855 212,817 (6,504 ) 3,334,800 Capital expenditures $ 6,889 301 227 1,280 910 751 1,375 — 11,733 Depreciation and amortization $ 8,185 497 375 1,319 554 1,958 447 — 13,335 Equity $ 1,334,952 66,399 25,663 197,939 86,048 157,973 119,718 (31,360 ) 1,957,332 Three months ended September 30, 2017: Revenues from unaffiliated customers $ 476,575 65,544 24,181 686,915 170,225 273,606 105,120 — 1,802,166 Transfers between geographic areas 26,888 2,782 3,679 5,253 5,681 10,302 5,318 (59,903 ) — Total revenues $ 503,463 68,326 27,860 692,168 175,906 283,908 110,438 (59,903 ) 1,802,166 Net revenues 1 $ 257,030 30,664 14,710 138,667 41,411 85,390 29,956 1,314 599,142 Operating income $ 74,645 9,215 2,652 72,070 11,697 11,124 5,495 (3 ) 186,895 Identifiable assets at period end $ 1,636,293 100,651 52,238 446,826 143,893 473,509 212,210 3,261 3,068,881 Capital expenditures $ 7,398 263 2,436 589 390 23,138 248 — 34,462 Depreciation and amortization $ 7,905 405 310 1,313 569 1,309 461 — 12,272 Equity $ 1,345,266 52,212 25,709 231,831 102,477 139,688 119,649 (35,751 ) 1,981,081 (in thousands) UNITED OTHER LATIN NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- CONSOLI- Nine months ended September 30, 2018: Revenues from unaffiliated customers $ 1,699,323 245,670 110,808 2,046,670 539,833 934,466 325,998 — 5,902,768 Transfers between geographic areas 91,546 11,536 11,362 18,735 20,237 43,501 16,591 (213,508 ) — Total revenues $ 1,790,869 257,206 122,170 2,065,405 560,070 977,967 342,589 (213,508 ) 5,902,768 Net revenues 1 $ 832,872 99,607 46,476 424,681 136,458 300,800 100,381 (1,577 ) 1,939,698 Operating income $ 212,843 29,571 7,480 213,105 44,049 51,894 20,599 15 579,556 Identifiable assets at period end $ 1,694,556 174,402 53,322 540,465 156,887 508,855 212,817 (6,504 ) 3,334,800 Capital expenditures $ 16,092 4,020 899 2,623 1,934 9,167 2,907 — 37,642 Depreciation and amortization $ 25,397 1,368 1,138 3,998 1,679 5,889 1,364 — 40,833 Equity $ 1,334,952 66,399 25,663 197,939 86,048 157,973 119,718 (31,360 ) 1,957,332 Nine months ended September 30, 2017: Revenues from unaffiliated customers $ 1,354,811 187,997 69,747 1,873,393 475,163 764,596 293,870 — 5,019,577 Transfers between geographic areas 79,356 8,246 11,073 15,139 16,520 29,288 15,316 (174,938 ) — Total revenues $ 1,434,167 196,243 80,820 1,888,532 491,683 793,884 309,186 (174,938 ) 5,019,577 Net revenues 1 $ 737,842 84,630 43,634 371,459 117,634 242,244 89,973 2,964 1,690,380 Operating income $ 191,256 26,583 8,349 183,515 37,434 36,189 17,928 (5 ) 501,249 Identifiable assets at period end $ 1,636,293 100,651 52,238 446,826 143,893 473,509 212,210 3,261 3,068,881 Capital expenditures $ 19,492 1,066 3,648 2,492 1,172 38,717 1,016 — 67,603 Depreciation and amortization $ 23,389 1,163 930 3,995 1,656 3,707 1,401 — 36,241 Equity $ 1,345,266 52,212 25,709 231,831 102,477 139,688 119,649 (35,751 ) 1,981,081 _______________________ 1 Net revenues are a non-GAAP measure calculated as revenues less directly related operating 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, 2018 2017 2018 2017 Total revenues $ 2,090,947 $ 1,802,166 $ 5,902,768 $ 5,019,577 Expenses: Airfreight services 620,554 547,595 1,727,383 1,490,417 Ocean freight and ocean services 435,313 411,061 1,199,887 1,163,051 Customs brokerage and other services 373,766 244,368 1,035,800 675,729 Net revenues $ 661,314 $ 599,142 $ 1,939,698 $ 1,690,380

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
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 23, 2018. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar amounts in the notes are presented in thousands except for per share data or unless otherwise specified.
Revenue Recognition, Policy	Effective January 1, 2018, revenue is recognized upon transfer of control of promised services to customers, which occurs over time. The Company has determined that in general each shipment transaction or service order constitutes a separate contract with the customer. However, when the Company provides multiple services to a customer, different contracts may be present for different services. The Company combines the contracts, which form a single performance obligation, and accounts for the contracts as a single contract when certain criteria are met. The Company typically satisfies its performance obligations as services are rendered over time. A typical shipment would include services rendered at origin, such as pick-up and delivery to port, freight services from origin to destination port and destination services, such as customs clearance and final delivery. The Company measures the performance of its obligations as services are completed over the life of a shipment, including services at origin, freight and destination. This method of measurement of progress depicts the pattern of the Company's actual performance under the contracts with the customer. There are no significant judgments involved in measuring the progress of the performance obligations. Amounts allocated to the services for each performance obligation are typically based on standalone selling prices. The Company does not have significant variable consideration in its contracts. Taxes assessed concurrently with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Typically, transaction prices for each of the Company's services are quoted as separate components; however, customers on occasion will request an all-inclusive rate for a set of services known in the industry as “door-to-door service.” This means that the customer is billed a single rate for all services from pickup at origin to delivery at destination. In these instances, the transaction price is allocated to each service on a relative selling price basis. The Company fulfills nearly all of its performance obligations within a one to two month-period and contracts with customers have an original expected duration of less than one year. The Company generally has an unconditional right to consideration when the services are initiated or soon thereafter. The amount due from the customer is recorded as accounts receivable. The amounts related to services that are not yet completed at the reporting date are presented as contract liabilities, with corresponding direct costs to fulfill the performance obligation that will be satisfied in the future presented as deferred contract costs. The Company generally does not incur incremental costs to obtain the contract with the customer. The Company may incur costs to fulfill the contract with the customers, such as set-up costs. However, the amount incurred is insignificant to the Company’s consolidated financial statements. The Company evaluates whether amounts billed to customers should be reported as gross or net revenue. Generally, revenue is recorded on a gross basis when the Company is primarily responsible for fulfilling the promise to provide the services, when it assumes risk of loss, when it has discretion in setting the prices for the services to the customers, and when the Company has the ability to direct the use of the services provided by the third party.
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 customers to pay deteriorates. The Company has recorded an allowance for doubtful accounts in the amounts of $13,696 as of September 30, 2018 and $12,858 as of December 31, 2017 . 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 disclosures 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 liabilities for the portion of the related exposure that the Company has self-insured, accrual of various tax liabilities including provisional estimates associated with the U.S. enacted Tax Cuts and Jobs Act (the 2017 Tax Act), accrual of loss contingencies and calculation of share-based compensation expense. Actual results could be materially different from the estimated provisions and accruals recorded.
New Accounting Pronouncements, Policy	Leases In February 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) changing the accounting for leases and includes a requirement to record all leases exceeding one year on the consolidated balance sheet as assets and liabilities. The Company expects to adopt the standard using a modified retrospective method and initially apply the standard beginning January 1, 2019. Upon adoption, the Company will record right-of-use assets equal to the present value of its lease payments and corresponding lease liabilities on its consolidated balance sheet. As of September 30, 2018 , undiscounted future minimum lease payments under noncancelable operating leases totaled approximately $294 million . On an on-going basis the Company does not expect any material changes to its operating results or cash flows from adoption of this standard. The Company is currently evaluating its existing lease portfolio, including accumulating all of the necessary information required to make appropriate accounting policy elections and properly account for the leases under this new standard. Additionally, the Company is implementing an enterprise-wide lease management system that, along with accompanying process changes, will assist in the accounting and internal control changes necessary to meet the reporting and disclosure requirements of the new standard when it becomes effective. Taxes In February 2018, the FASB issued an ASU, which amends existing guidance for reporting comprehensive income to reflect changes resulting from the 2017 Tax Act. The amendment provides the option to reclassify stranded tax effects resulting from the 2017 Tax Act within accumulated other comprehensive income (AOCI) to retained earnings. New disclosures will be required upon adoption, including the accounting policy for releasing income tax effects from AOCI, whether reclassification of stranded income tax effects is elected, and information about other income tax effect reclassifications. The amendment will become effective for the Company on January 1, 2019, and the Company will adopt in the first quarter of 2019 as required. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements and disclosures.
Stock Plans, Policy	The Company recognizes stock compensation expense based on the fair value of awards granted to employees and directors under the Company’s omnibus incentive, stock option, director restricted stock and employee stock purchase rights plans. This expense, adjusted for expected forfeitures, is recognized in net earnings on a straight-line basis over the service periods as salaries and related costs.
Income Taxes, Policy	The 2017 Tax Act included provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries and for Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payments to affiliated foreign companies. Consistent with U.S. GAAP, the Company will treat BEAT as discrete adjustments to the income tax provision when incurred in future periods for which no deferred taxes are required to be provided and has made an accounting policy election to treat GILTI taxes in a similar manner. No provision for income taxes related to GILTI has been recorded through September 30, 2018. No provision for BEAT was recorded until the second quarter of 2018 when an estimated BEAT income tax expense of $2.0 million was recognized. This amount was reversed in the third quarter of 2018 based upon updated BEAT calculations and projections as of September 30, 2018. The Company elected to adopt the Securities and Exchange Commission issued guidance that allows for a measurement period, not to exceed one year after the enactment date of the 2017 Tax Act, to finalize the recording of the related tax impacts. The Company expects to finalize its tax positions and calculations in the fourth quarter of 2018 though a possibility remains that additional guidance and regulations could be issued beyond 2018 that could impact the amounts recorded. The tax effects for these provisional items are recorded as discrete adjustments to the income tax provision as information becomes known. The components of the provisional net income taxes recorded in 2017 and through the nine-month period ended September 30, 2018 are based on the best available information at the current time. As noted, guidance and interpretations have been issued throughout 2018 and more is expected to be released in future periods. Provisional items include amounts related to the mandatory repatriation of undistributed international earnings, certain foreign exchange gains or losses, foreign tax credits as well as the impacts on deferred taxes, for example 100% expensing of qualified assets. Based on additional guidance issued during the applicable periods related to the computation of the Transition Tax, the Company recorded additional provisional tax expense of $1.8 million in the first quarter of 2018 and a provisional tax benefit of $800 in the third quarter of 2018. In the second quarter of 2018, the Company reclassified its provisional liability associated with the Transition Tax from a long-term liability to a current obligation, offsetting its prepaid income tax balance, as a result of guidance issued by the IRS during that quarter.
Earnings Per Share, Policy	Diluted earnings attributable to shareholders per share is computed using the weighted average number of common shares and dilutive potential common shares outstanding. Dilutive potential shares represent outstanding stock options, including purchase options under the Company's employee stock purchase plan and unvested restricted stock units. Basic earnings attributable to shareholders per share is calculated using the weighted average number of common shares outstanding without taking into consideration dilutive potential common shares outstanding.
Cash Equivalents, Policy	All highly liquid investments with a maturity of three months or less at date of purchase are considered to be cash equivalents.
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. 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. Certain costs are allocated among the segments based on the relative value of the underlying services, which can include allocation based on actual costs incurred or estimated cost plus a profit margin.

Basic and Diluted Earnings pe_2

Basic and Diluted Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2018
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 per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2018 Basic earnings attributable to shareholders $ 162,692 173,394 $ 0.94 Effect of dilutive potential common shares — 3,779 — Diluted earnings attributable to shareholders $ 162,692 177,173 $ 0.92 2017 Basic earnings attributable to shareholders $ 120,263 179,416 $ 0.67 Effect of dilutive potential common shares — 2,372 — Diluted earnings attributable to shareholders $ 120,263 181,788 $ 0.66 Nine months ended September 30, (Amounts in thousands, except per share amounts) Net earnings attributable to shareholders Weighted average shares Earnings per share 2018 Basic earnings attributable to shareholders $ 438,989 174,675 $ 2.51 Effect of dilutive potential common shares — 3,772 — Diluted earnings attributable to shareholders $ 438,989 178,447 $ 2.46 2017 Basic earnings attributable to shareholders $ 322,378 179,827 $ 1.79 Effect of dilutive potential common shares — 2,124 — Diluted earnings attributable to shareholders $ 322,378 181,951 $ 1.77

Components of Equity (Tables)

Components of Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Components of Equity Disclosure	The components of equity for the nine months ended September 30, 2018 and 2017 are as follows: Shareholders’ equity Noncontrolling interest Total equity Balance at December 31, 2017 $ 1,991,858 2,515 1,994,373 Cumulative effect of accounting change (22,357 ) (105 ) (22,462 ) Exercise of stock options and release of restricted awards, net of shares withheld for employee taxes 133,060 — 133,060 Issuance of shares under stock purchase plan 33,292 — 33,292 Shares repurchased under provisions of stock repurchase plans (555,760 ) — (555,760 ) Stock compensation expense 43,171 — 43,171 Net earnings 438,989 1,224 440,213 Other comprehensive loss (27,135 ) (994 ) (28,129 ) Dividends paid ($0.45 per share) (79,180 ) (79,180 ) Purchase of noncontrolling interest (89 ) (524 ) (613 ) Distributions to noncontrolling interest — (633 ) (633 ) Balance at September 30, 2018 $ 1,955,849 1,483 1,957,332 Balance at December 31, 2016 $ 1,844,638 2,575 1,847,213 Exercise of stock options 134,014 — 134,014 Issuance of shares under stock purchase plan 28,767 28,767 Shares repurchased under provisions of stock repurchase plans (340,736 ) — (340,736 ) Stock compensation expense 39,036 — 39,036 Net earnings 322,378 550 322,928 Other comprehensive income 25,632 (47 ) 25,585 Dividends paid ($0.42 per share) $ (75,726 ) (75,726 ) Balance at September 30, 2017 $ 1,978,003 3,078 1,981,081

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair value of Cash and Cash Equivalents by Balance Sheet Grouping	Cash and cash equivalents consist of the following: September 30, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 444,650 444,650 383,021 383,021 Corporate commercial paper 520,740 521,292 635,345 635,919 Time deposits 25,222 25,222 32,733 32,733 Total cash and cash equivalents $ 990,612 991,164 1,051,099 1,051,673

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The Company generally enters into short-term, unconditional purchase obligations with asset-based providers reserving space on a guaranteed basis. The pricing of these obligations varies to some degree with market conditions. Historically, the Company has met these obligations in the normal course of business within one year. Purchase obligations outstanding as of September 30, 2018 totaled $90 million . Additionally, the Company occupies offices and warehouse facilities under terms of operating leases expiring up to 2032 . At September 30, 2018, future minimum annual lease payments under all noncancelable leases are as follows: 2018 $ 19,731 2019 70,736 2020 58,479 2021 41,107 2022 31,585 Thereafter 72,412 $ 294,050

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018: Revenues from unaffiliated customers $ 597,183 88,877 39,389 741,997 198,537 312,724 112,240 — 2,090,947 Transfers between geographic areas 31,860 3,998 4,054 6,592 6,855 14,488 5,807 (73,654 ) — Total revenues $ 629,043 92,875 43,443 748,589 205,392 327,212 118,047 (73,654 ) 2,090,947 Net revenues 1 $ 283,807 34,411 15,808 146,890 47,166 99,794 34,055 (617 ) 661,314 Operating income $ 79,567 10,476 2,409 72,823 15,543 15,658 6,671 7 203,154 Identifiable assets at period end $ 1,694,556 174,402 53,322 540,465 156,887 508,855 212,817 (6,504 ) 3,334,800 Capital expenditures $ 6,889 301 227 1,280 910 751 1,375 — 11,733 Depreciation and amortization $ 8,185 497 375 1,319 554 1,958 447 — 13,335 Equity $ 1,334,952 66,399 25,663 197,939 86,048 157,973 119,718 (31,360 ) 1,957,332 Three months ended September 30, 2017: Revenues from unaffiliated customers $ 476,575 65,544 24,181 686,915 170,225 273,606 105,120 — 1,802,166 Transfers between geographic areas 26,888 2,782 3,679 5,253 5,681 10,302 5,318 (59,903 ) — Total revenues $ 503,463 68,326 27,860 692,168 175,906 283,908 110,438 (59,903 ) 1,802,166 Net revenues 1 $ 257,030 30,664 14,710 138,667 41,411 85,390 29,956 1,314 599,142 Operating income $ 74,645 9,215 2,652 72,070 11,697 11,124 5,495 (3 ) 186,895 Identifiable assets at period end $ 1,636,293 100,651 52,238 446,826 143,893 473,509 212,210 3,261 3,068,881 Capital expenditures $ 7,398 263 2,436 589 390 23,138 248 — 34,462 Depreciation and amortization $ 7,905 405 310 1,313 569 1,309 461 — 12,272 Equity $ 1,345,266 52,212 25,709 231,831 102,477 139,688 119,649 (35,751 ) 1,981,081 (in thousands) UNITED OTHER LATIN NORTH ASIA SOUTH ASIA EUROPE MIDDLE EAST, AFRICA AND INDIA ELIMI- CONSOLI- Nine months ended September 30, 2018: Revenues from unaffiliated customers $ 1,699,323 245,670 110,808 2,046,670 539,833 934,466 325,998 — 5,902,768 Transfers between geographic areas 91,546 11,536 11,362 18,735 20,237 43,501 16,591 (213,508 ) — Total revenues $ 1,790,869 257,206 122,170 2,065,405 560,070 977,967 342,589 (213,508 ) 5,902,768 Net revenues 1 $ 832,872 99,607 46,476 424,681 136,458 300,800 100,381 (1,577 ) 1,939,698 Operating income $ 212,843 29,571 7,480 213,105 44,049 51,894 20,599 15 579,556 Identifiable assets at period end $ 1,694,556 174,402 53,322 540,465 156,887 508,855 212,817 (6,504 ) 3,334,800 Capital expenditures $ 16,092 4,020 899 2,623 1,934 9,167 2,907 — 37,642 Depreciation and amortization $ 25,397 1,368 1,138 3,998 1,679 5,889 1,364 — 40,833 Equity $ 1,334,952 66,399 25,663 197,939 86,048 157,973 119,718 (31,360 ) 1,957,332 Nine months ended September 30, 2017: Revenues from unaffiliated customers $ 1,354,811 187,997 69,747 1,873,393 475,163 764,596 293,870 — 5,019,577 Transfers between geographic areas 79,356 8,246 11,073 15,139 16,520 29,288 15,316 (174,938 ) — Total revenues $ 1,434,167 196,243 80,820 1,888,532 491,683 793,884 309,186 (174,938 ) 5,019,577 Net revenues 1 $ 737,842 84,630 43,634 371,459 117,634 242,244 89,973 2,964 1,690,380 Operating income $ 191,256 26,583 8,349 183,515 37,434 36,189 17,928 (5 ) 501,249 Identifiable assets at period end $ 1,636,293 100,651 52,238 446,826 143,893 473,509 212,210 3,261 3,068,881 Capital expenditures $ 19,492 1,066 3,648 2,492 1,172 38,717 1,016 — 67,603 Depreciation and amortization $ 23,389 1,163 930 3,995 1,656 3,707 1,401 — 36,241 Equity $ 1,345,266 52,212 25,709 231,831 102,477 139,688 119,649 (35,751 ) 1,981,081
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, 2018 2017 2018 2017 Total revenues $ 2,090,947 $ 1,802,166 $ 5,902,768 $ 5,019,577 Expenses: Airfreight services 620,554 547,595 1,727,383 1,490,417 Ocean freight and ocean services 435,313 411,061 1,199,887 1,163,051 Customs brokerage and other services 373,766 244,368 1,035,800 675,729 Net revenues $ 661,314 $ 599,142 $ 1,939,698 $ 1,690,380

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 13,696	$ 12,858
Operating Leases, Future Minimum Payments Due	$ 294,050

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 22,462				$ 22,462
Deferred contract costs	168,090				168,090			$ 0
Contract liabilities	195,035				195,035			$ 0
Revenue from Contract with Customer, Excluding Assessed Tax	2,090,947			$ 1,802,166	5,902,768	$ 5,019,577
Cost of Customs brokerage and other services	1,887,793			1,615,271	5,323,212	4,518,328
Customs brokerage and other services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	671,799			$ 503,616	$ 1,899,741	$ 1,411,270
Prospective Change in Presentation Gross vs. Net | Customs brokerage and other services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50,000	$ 50,000	$ 50,000
Cost of Customs brokerage and other services	$ 50,000	$ 50,000	$ 50,000
Revenue Accounting Standards Update
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets							$ 22,000
Deferred contract costs							135,000
Contract liabilities							$ 165,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail)	3 Months Ended				9 Months Ended
	Sep. 30, 2018$ / sharesshares	Jun. 30, 2018shares	Sep. 30, 2017$ / sharesshares	Jun. 30, 2017shares	Sep. 30, 2018$ / sharesshares	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Employee Stock Purchase Plans	666,000		682,000		666,000	682,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years		3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					461,000	583,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares					$ 69.58	$ 54.04
Number of common stock issued per unit based award upon vesting					1	1
Directors Restricted Stock Plan 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		25,000		38,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					18,000	23,000
Number of common stock issued per unit based award upon vesting					1	1
Maximum Adjustment Factor			2		2
Minimum Adjustment Factor			0.5		0.5
Minimum Shares Issued			0		0
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 17.49		$ 11.69		$ 17.49	$ 11.69

Income Taxes Income Taxes - Add

Income Taxes Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Taxes [Line Items]
Income tax expense (benefit)	$ 45,357			$ 69,829	$ 155,871	$ 190,470
Effective income tax rate reconciliation, percent	21.80%			36.70%	26.10%	37.10%
Tax Cuts and Jobs Act - Provisional
Income Taxes [Line Items]
Income tax expense (benefit)							$ (39,000)
Base Erosion and Anti-Abuse Tax
Income Taxes [Line Items]
Income tax expense (benefit)	$ (2,000)	$ 2,000
Transition Tax For Accumulated Foreign Earnings Provisional
Income Taxes [Line Items]
Income tax expense (benefit)	(800)		$ 1,800
Tax Cuts and Jobs Act
Income Taxes [Line Items]
Tax credits from withholding taxes paid on repatriated foreign earnings	(7,000)
State and Local Jurisdiction
Income Taxes [Line Items]
State income tax refund	$ (4,000)
UNITED STATES
Income Taxes [Line Items]
Effective income tax rate reconciliation, at Federal statutory income tax rate, percent					21.00%	35.00%

Basic and Diluted Earnings pe_3

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, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net Earnings Attributable to Shareholders
Basic earnings attributable to shareholders	$ 162,692	$ 120,263	$ 438,989	$ 322,378
Diluted earnings attributable to shareholders	$ 162,692	$ 120,263	$ 438,989	$ 322,378
Weighted Average Shares
Weighted average basic shares outstanding	173,394	179,416	174,675	179,827
Effect of dilutive potential common shares	3,779	2,372	3,772	2,124
Weighted average diluted shares outstanding	177,173	181,788	178,447	181,951
Earnings Per Share
Basic earnings attributable to shareholders per share	$ 0.94	$ 0.67	$ 2.51	$ 1.79
Diluted earnings attributable to shareholders per share	$ 0.92	$ 0.66	$ 2.46	$ 1.77

Components of Equity (Detail)

Components of Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 1,994,373	$ 1,847,213
Cumulative effect of accounting change	$ (22,462)		(22,462)
Exercise of stock options and release of restricted awards, net of shares withheld for employee taxes			133,060	134,014
Issuance of shares under stock purchase plan			33,292	28,767
Shares repurchased under provisions of stock repurchase plans			(555,760)	(340,736)
Stock compensation expense			43,171	39,036
Net earnings	163,067	$ 120,606	440,213	322,928
Other comprehensive (loss) income	(10,929)	7,489	(28,129)	25,585
Dividends paid			79,180	75,726
Purchase of noncontrolling interest			(613)
Distributions to noncontrolling interest			(633)
Ending Balance	1,957,332	1,981,081	1,957,332	1,981,081
Shareholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			1,991,858	1,844,638
Cumulative effect of accounting change	(22,357)		(22,357)
Exercise of stock options and release of restricted awards, net of shares withheld for employee taxes			133,060	134,014
Issuance of shares under stock purchase plan			33,292	28,767
Shares repurchased under provisions of stock repurchase plans			(555,760)	(340,736)
Stock compensation expense			43,171	39,036
Net earnings			438,989	322,378
Other comprehensive (loss) income			(27,135)	25,632
Dividends paid			79,180	75,726
Purchase of noncontrolling interest			(89)
Distributions to noncontrolling interest			0
Ending Balance	1,955,849	1,978,003	1,955,849	1,978,003
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			2,515	2,575
Cumulative effect of accounting change	(105)		(105)
Net earnings			1,224	550
Other comprehensive (loss) income			(994)	(47)
Purchase of noncontrolling interest			(524)
Distributions to noncontrolling interest			(633)
Ending Balance	$ 1,483	$ 3,078	$ 1,483	$ 3,078

Components Of Equity - Addition

Components Of Equity - Additional Information (Detail) - $ / shares shares in Thousands	Nov. 05, 2018	May 08, 2018	May 02, 2017	Sep. 30, 2018	Sep. 30, 2017
Class of Stock [Line Items]
Date of declaration of dividends		May 8, 2018	May 2, 2017
Dividend declared per share		$ 0.45	$ 0.42
Date of dividend payment		Jun. 15, 2018	Jun. 15, 2017
Dividends payable to shareholders date of record		Jun. 1, 2018	Jun. 1, 2017
Non-Discretionary Plan
Class of Stock [Line Items]
Shares repurchased				2,386	2,902
Average price per share				$ 72.72	$ 55.58
Discretionary Plan
Class of Stock [Line Items]
Shares repurchased				5,378	3,189
Average price per share				$ 71.07	$ 56.26
Expected common stock shares issued and outstanding				170,000
Subsequent Event
Class of Stock [Line Items]
Date of declaration of dividends	Nov. 5, 2018
Dividend declared per share	$ 0.45
Date of dividend payment	Dec. 17, 2018
Dividends payable to shareholders date of record	Dec. 3, 2018
Subsequent Event | Discretionary Plan
Class of Stock [Line Items]
Expected common stock shares issued and outstanding	160,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	$ 990,612	$ 1,020,854	$ 1,051,099	$ 1,033,444	$ 1,114,910	$ 974,435
Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	990,612		1,051,099
Cost | Cash and Cash Equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and overnight deposits	444,650		383,021
Corporate commercial paper	520,740		635,345
Time deposits	25,222		32,733
Fair Value | Cash and Cash Equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and overnight deposits	444,650		383,021
Corporate commercial paper	521,292		635,919
Time deposits	25,222		32,733
Total cash and cash equivalents	$ 991,164		$ 1,051,673

Commitments - Additional Inform

Commitments - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Commitments Disclosure [Line Items]
Unrecorded Unconditional Purchase Obligation	$ 90
Building [Member]
Commitments Disclosure [Line Items]
Lease Expiration Date	Dec. 31, 2032

Commitments (Details)

Commitments (Details) $ in Thousands	Sep. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 19,731
Operating Leases, Future Minimum Payments, Due in Two Years	70,736
Operating Leases, Future Minimum Payments, Due in Three Years	58,479
Operating Leases, Future Minimum Payments, Due in Four Years	41,107
Operating Leases, Future Minimum Payments, Due in Five Years	31,585
Operating Leases, Future Minimum Payments, Due Thereafter	72,412
Operating Leases, Future Minimum Payments Due, Total	$ 294,050

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, 2018		Sep. 30, 2017		Sep. 30, 2018		Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,090,947		$ 1,802,166		$ 5,902,768		$ 5,019,577
Net revenues	[1]	661,314		599,142		1,939,698		1,690,380
Operating income		203,154		186,895		579,556		501,249
Identifiable assets at period end		3,334,800		3,068,881		3,334,800		3,068,881	$ 3,117,008
Capital expenditures		11,733		34,462		37,642		67,603
Depreciation and amortization		13,335		12,272		40,833		36,241
Equity		1,957,332		1,981,081		1,957,332		1,981,081	$ 1,994,373	$ 1,847,213
United States Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		597,183		476,575		1,699,323		1,354,811
Other North America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		88,877		65,544		245,670		187,997
Latin America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		39,389		24,181		110,808		69,747
North Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		741,997		686,915		2,046,670		1,873,393
South Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		198,537		170,225		539,833		475,163
Europe Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		312,724		273,606		934,466		764,596
Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		112,240		105,120		325,998		293,870
Geography Eliminations | United States Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		31,860		26,888		91,546		79,356
Geography Eliminations | Other North America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		3,998		2,782		11,536		8,246
Geography Eliminations | Latin America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		4,054		3,679		11,362		11,073
Geography Eliminations | North Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		6,592		5,253		18,735		15,139
Geography Eliminations | South Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		6,855		5,681		20,237		16,520
Geography Eliminations | Europe Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		14,488		10,302		43,501		29,288
Geography Eliminations | Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		5,807		5,318		16,591		15,316
Operating Segments | United States Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		629,043		503,463		1,790,869		1,434,167
Net revenues	[1]	283,807		257,030		832,872		737,842
Operating income		79,567		74,645		212,843		191,256
Identifiable assets at period end		1,694,556		1,636,293		1,694,556		1,636,293
Capital expenditures		6,889		7,398		16,092		19,492
Depreciation and amortization		8,185		7,905		25,397		23,389
Equity		1,334,952		1,345,266		1,334,952		1,345,266
Operating Segments | Other North America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		92,875		68,326		257,206		196,243
Net revenues	[1]	34,411		30,664		99,607		84,630
Operating income		10,476		9,215		29,571		26,583
Identifiable assets at period end		174,402		100,651		174,402		100,651
Capital expenditures		301		263		4,020		1,066
Depreciation and amortization		497		405		1,368		1,163
Equity		66,399		52,212		66,399		52,212
Operating Segments | Latin America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		43,443		27,860		122,170		80,820
Net revenues	[1]	15,808		14,710		46,476		43,634
Operating income		2,409		2,652		7,480		8,349
Identifiable assets at period end		53,322		52,238		53,322		52,238
Capital expenditures		227		2,436		899		3,648
Depreciation and amortization		375		310		1,138		930
Equity		25,663		25,709		25,663		25,709
Operating Segments | North Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		748,589		692,168		2,065,405		1,888,532
Net revenues	[1]	146,890		138,667		424,681		371,459
Operating income		72,823		72,070		213,105		183,515
Identifiable assets at period end		540,465		446,826		540,465		446,826
Capital expenditures		1,280		589		2,623		2,492
Depreciation and amortization		1,319		1,313		3,998		3,995
Equity		197,939		231,831		197,939		231,831
Operating Segments | South Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		205,392		175,906		560,070		491,683
Net revenues	[1]	47,166		41,411		136,458		117,634
Operating income		15,543		11,697		44,049		37,434
Identifiable assets at period end		156,887		143,893		156,887		143,893
Capital expenditures		910		390		1,934		1,172
Depreciation and amortization		554		569		1,679		1,656
Equity		86,048		102,477		86,048		102,477
Operating Segments | Europe Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		327,212		283,908		977,967		793,884
Net revenues	[1]	99,794		85,390		300,800		242,244
Operating income		15,658		11,124		51,894		36,189
Identifiable assets at period end		508,855		473,509		508,855		473,509
Capital expenditures		751		23,138		9,167		38,717
Depreciation and amortization		1,958		1,309		5,889		3,707
Equity		157,973		139,688		157,973		139,688
Operating Segments | Middle East Africa And India Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		118,047		110,438		342,589		309,186
Net revenues	[1]	34,055		29,956		100,381		89,973
Operating income		6,671		5,495		20,599		17,928
Identifiable assets at period end		212,817		212,210		212,817		212,210
Capital expenditures		1,375		248		2,907		1,016
Depreciation and amortization		447		461		1,364		1,401
Equity		119,718		119,649		119,718		119,649
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		(73,654)		(59,903)		(213,508)		(174,938)
Net revenues		(617)	[1]	1,314	[1]	(1,577)	[1]	2,964
Operating income		7		(3)		15		(5)
Identifiable assets at period end		(6,504)		3,261		(6,504)		3,261
Equity		$ (31,360)		$ (35,751)		$ (31,360)		$ (35,751)
[1]	Net revenues are a non-GAAP measure calculated as revenues less directly related operating 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 _2

Business Segment Information - Net Revenues Calculation (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Net Revenues Calculation [Line Items]
Total revenues		$ 2,090,947	$ 1,802,166	$ 5,902,768	$ 5,019,577
Expenses [Abstract]
Net revenues	[1]	661,314	599,142	1,939,698	1,690,380
Airfreight services
Schedule of Net Revenues Calculation [Line Items]
Total revenues		833,338	735,164	2,366,326	2,022,577
Expenses [Abstract]
Direct Operating Costs		620,554	547,595	1,727,383	1,490,417
Ocean freight and ocean services
Schedule of Net Revenues Calculation [Line Items]
Total revenues		585,810	563,386	1,636,701	1,585,730
Expenses [Abstract]
Direct Operating Costs		435,313	411,061	1,199,887	1,163,051
Customs brokerage and other services
Schedule of Net Revenues Calculation [Line Items]
Total revenues		671,799	503,616	1,899,741	1,411,270
Expenses [Abstract]
Direct Operating Costs		$ 373,766	$ 244,368	$ 1,035,800	$ 675,729
[1]	Net revenues are a non-GAAP measure calculated as revenues less directly related operating 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.