Expeditors International of Washington (EXPD) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	EXPD
Entity Registrant Name	EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
Entity Central Index Key	0000746515
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		141,252,246
Entity File Number	001-41871
Entity Tax Identification Number	91-1069248
Entity Address, Address Line One	1015 Third Avenue
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98104
City Area Code	206
Local Phone Number	674-3400
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	WA
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 1,370,456	$ 1,512,883
Accounts receivable, less allowance for credit loss of $6,382 at March 31, 2024 and $6,550 at December 31, 2023	1,572,356	1,532,599
Deferred contract costs	277,771	218,807
Other	153,111	170,907
Total current assets	3,373,694	3,435,196
Property and equipment, less accumulated depreciation and amortization of $604,458 at March 31, 2024 and $597,473 at December 31, 2023	470,055	479,225
Operating lease right-of-use assets	551,682	516,280
Goodwill	7,927	7,927
Deferred federal and state income taxes, net	64,408	63,690
Other assets, net	20,502	21,491
Total assets	4,488,268	4,523,809
Current Liabilities:
Accounts payable	927,129	860,856
Accrued liabilities, primarily salaries and related costs	433,599	447,336
Contract liabilities	344,552	280,909
Current portion of operating lease liabilities	100,673	99,749
Federal, state and foreign income taxes	20,388	15,562
Total current liabilities	1,826,341	1,704,412
Noncurrent portion of operating lease liabilities	464,262	427,984
Commitments and contingencies
Shareholders’ Equity:
Preferred stock, none issued	0	0
Common stock, par value $0.01 per share. Issued and outstanding: 141,119 shares at March 31, 2024 and 143,866 shares at December 31, 2023	1,411	1,439
Additional paid-in capital	0	0
Retained earnings	2,401,525	2,580,968
Accumulated other comprehensive loss	(207,474)	(192,057)
Total shareholders’ equity	2,195,462	2,390,350
Noncontrolling interest	2,203	1,063
Total equity	2,197,665	2,391,413
Total liabilities and equity	$ 4,488,268	$ 4,523,809

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 6,382	$ 6,550
Property and equipment, accumulated depreciation	$ 604,458	$ 597,473
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	141,119	143,866
Common stock, shares outstanding	141,119	143,866

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,206,678	$ 2,592,589
Operating Expenses:
Directly related cost of transportation and other expenses	[1]	1,433,280	1,719,102
Salaries and related		413,162	449,848
Rent and occupancy		61,252	57,632
Depreciation and amortization		15,161	15,261
Selling and promotion		6,779	6,384
Other		62,268	68,393
Total operating expenses		1,991,902	2,316,620
Operating income		214,776	275,969
Other Income (Expense):
Interest income		14,878	18,775
Other, net		3,528	5,834
Other income, net		18,406	24,609
Earnings before income taxes		233,182	300,578
Income tax expense		62,782	74,580
Net earnings		170,400	225,998
Less net earnings (losses) attributable to the noncontrolling interest		1,248	(13)
Net earnings attributable to shareholders		$ 169,152	$ 226,011
Diluted earnings attributable to shareholders per share		$ 1.17	$ 1.45
Basic earnings attributable to shareholders per share		$ 1.18	$ 1.47
Weighted average diluted shares outstanding		144,125	155,472
Weighted average basic shares outstanding		143,194	154,164
Airfreight services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax		$ 759,374	$ 904,903
Operating Expenses:
Directly related cost of transportation and other expenses		537,591	666,022
Ocean freight and ocean services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax		570,786	697,307
Operating Expenses:
Directly related cost of transportation and other expenses		413,983	483,682
Customs brokerage and other services
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax		876,518	990,379
Operating Expenses:
Directly related cost of transportation and other expenses		$ 481,706	$ 569,398
[1] Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 170,400	$ 225,998
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments, net of income tax benefits of $3,013 and $4,268 for the three months ended March 31, 2024 and 2023	(15,525)	11,753
Other comprehensive (loss) income	(15,525)	11,753
Comprehensive income	154,875	237,751
Less comprehensive income (loss) attributable to the noncontrolling interest	1,140	(315)
Comprehensive income attributable to shareholders	$ 153,735	$ 238,066

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosure [Abstract]
Foreign currency translation adjustments, tax benefits	$ 3,013	$ 4,268

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Activities:
Net earnings	$ 170,400	$ 225,998
Adjustments to reconcile net earnings to net cash from operating activities:
Provisions for losses on accounts receivable	394	1,072
Deferred income tax expense	2,294	2,036
Stock compensation expense	12,372	12,488
Depreciation and amortization	15,161	15,261
Other, net	1,985	1,159
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(60,542)	508,606
Increase (decrease) in accounts payable and accrued liabilities	83,591	(202,923)
(Increase) decrease in deferred contract costs	(64,062)	67,621
Increase (decrease) in contract liabilities	69,308	(84,447)
Decrease in income taxes payable, net	22,686	91
Increase (decrease) in other, net	3,317	(550)
Net cash from operating activities	256,904	546,412
Investing Activities:
Purchase of property and equipment	(10,181)	(10,126)
Other, net	97	575
Net cash from investing activities	(10,084)	(9,551)
Financing Activities:
Proceeds from borrowings on lines of credit	44	11,495
Payments on borrowings on lines of credit	(17,286)	(26,402)
Proceeds from issuance of common stock	8,029	9,288
Repurchases of common stock	(360,524)	(213,502)
Payments for taxes related to net share settlement of equity awards	(5,185)	(7,445)
Net cash from financing activities	(374,922)	(226,566)
Effect of exchange rate changes on cash and cash equivalents	(14,325)	6,368
Change in cash and cash equivalents	(142,427)	316,663
Cash and cash equivalents at beginning of period	1,512,883	2,034,131
Cash and cash equivalents at end of period	1,370,456	2,350,794
Taxes Paid:
Income taxes	$ 36,864	$ 70,786

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Total shareholders' equity	Noncontrolling interest
Balance at Dec. 31, 2022	$ 3,113,535	$ 1,543	$ 139	$ 3,310,892	$ (202,553)	$ 3,110,021	$ 3,514
Balance (in shares) at Dec. 31, 2022		154,313
Increase (Decrease) in Equity [Roll Forward]
Shares issued under employee stock plans, net of tax withholding for net settlement	1,844	$ 4	1,840	0	0	1,844	0
Shares issued under employee stock plans, net of tax withholding for net settlement (in shares)		358
Shares repurchased under provisions of stock repurchase plan	(215,250)	$ (20)	(14,809)	(200,421)	0	(215,250)	0
Shares repurchased under provisions of stock repurchase plan (in shares)		(1,959)
Stock compensation expense	12,488	$ 0	12,488	0	0	12,488	0
Net earnings (loss)	225,998	0	0	226,011	0	226,011	(13)
Other comprehensive income (loss)	11,753	0	0	0	12,055	12,055	(302)
Dividends and dividend equivalents paid	0	0	342	(342)	0	0	0
Balance at Mar. 31, 2023	3,150,368	$ 1,527	0	3,336,140	(190,498)	3,147,169	3,199
Balance (in shares) at Mar. 31, 2023		152,712
Balance at Dec. 31, 2023	$ 2,391,413	$ 1,439	0	2,580,968	(192,057)	2,390,350	1,063
Balance (in shares) at Dec. 31, 2023	143,866	143,866
Increase (Decrease) in Equity [Roll Forward]
Shares issued under employee stock plans, net of tax withholding for net settlement	$ 2,844	$ 2	2,842	0	0	2,844	0
Shares issued under employee stock plans, net of tax withholding for net settlement (in shares)		253
Shares repurchased under provisions of stock repurchase plan	(363,839)	$ (30)	(15,508)	(348,301)	0	(363,839)	0
Shares repurchased under provisions of stock repurchase plan (in shares)		(3,000)
Stock compensation expense	12,372	$ 0	12,372	0	0	12,372	0
Net earnings (loss)	170,400	0	0	169,152	0	169,152	1,248
Other comprehensive income (loss)	(15,525)	0	0	0	(15,417)	(15,417)	(108)
Dividends and dividend equivalents paid	0	0	294	(294)	0	0	0
Balance at Mar. 31, 2024	$ 2,197,665	$ 1,411	$ 0	$ 2,401,525	$ (207,474)	$ 2,195,462	$ 2,203
Balance (in shares) at Mar. 31, 2024	141,119	141,119

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 169,152	$ 226,011

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. 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, high technology, 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 for 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, 2024. 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. Certain prior year amounts have been reclassified to conform to the current year presentation of other income (expense) in the condensed consolidated statement of earnings. B. Revenue Recognition The Company derives its revenues by entering into agreements that are generally comprised of a single performance obligation, which is that freight is shipped for and received by the customer. Each performance obligation is comprised of one or more of the Company’s services. The Company's three principal services are the revenue categories presented in the condensed consolidated statements of earnings: 1) airfreight services, 2) ocean freight and ocean services, and 3) customs brokerage and other services. 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. 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 satisfied nearly all performance obligations for the contract liabilities recorded as of December 31, 2023. The Company evaluates whether amounts billed to customers should be reported as revenues on a gross or net basis. 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 the 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. When revenue is recorded on a net basis, the amounts earned are determined using a fixed fee, a per unit of activity fee or a combination thereof. For revenues earned in other capacities, for instance, when the Company does not issue a House Airway Bill (HAWB), a House Ocean Bill of Lading (HOBL) or a House Sea Waybill or otherwise act solely as an agent for the shipper, only the commissions and fees earned for such services are included in revenues. In these transactions, the Company is not a principal and reports only the commissions and fees earned in revenues. C. Leases The Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. All ROU assets and lease liabilities are recognized at the commencement date at the present value of lease payments over the lease term. ROU assets are adjusted for lease incentives and initial direct costs. The lease term includes renewal options exercisable at the Company's sole discretion when the Company is reasonably certain to exercise that option. As the Company's leases generally do not have an implicit rate, the Company uses an estimated incremental borrowing rate based on market information available at the commencement date to determine the present value. Certain of our leases include variable payments, which may vary based upon changes in facts or circumstances after the start of the lease. The Company excludes variable payments from ROU assets and lease liabilities to the extent not considered fixed, and instead expenses variable payments as incurred. Lease expense is recognized on a straight-line basis over the lease term and is included in rent and occupancy expenses in the condensed consolidated statement of earnings. Additionally, the Company elected to apply the short-term lease exemption for leases with a non-cancelable period of twelve months or less and has chosen not to separate non-lease components from lease components and instead to account for each as a single lease component. D. Accounts Receivable The Company’s trade accounts receivable present similar credit risk characteristics and the allowance for credit loss is estimated on a collective basis, using a credit loss-rate method that uses historical credit loss information and considers the current economic environment. Additional allowances may be necessary in the future if changes in economic conditions are significant enough to affect expected credit losses. The Company has recorded an allowance for credit loss in the amounts of $ 6,382 as of March 31, 2024 and $ 6,550 as of December 31, 2023 . Additions and write-offs have not been significant in the periods presented. E. 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 performs, typically at the destination location, self-insured liabilities, accrual of various tax liabilities and accrual of loss contingencies, calculation of share-based compensation expense and estimates related to determining the lease term and discount rate when measuring ROU assets and lease liabilities. F. Recent Accounting Pronouncements Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) which makes improvements to reportable segment disclosures, by requiring, among other things, the disclosure in interim periods about a reportable segment’s profit or loss and assets that are currently required annually, and disclosures of significant segment expenses and profit and loss measures provided to the chief operating decision maker. The ASU does not change how the Company identifies its operating segments. The Company expects to adopt this standard in its 2024 annual report on Form 10-K and for interim periods starting on January 1, 2025, including retrospective presentation to all prior periods presented in the financial statements. The Company is currently evaluating the impact of this ASU on its segment disclosures and expects no impact on its consolidated financial statements, cash flows and financial condition. Improvements to Income Tax Disclosures In December 2023, the FASB issued an ASU which expands income tax disclosures by requiring the disclosure, on an annual basis, of a tabular rate reconciliation using both percentages and currency amounts, broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, disclosure is required of income taxes paid, net of refunds received, disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. This standard will become effective for the Company on January 1, 2025. The Company may apply this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company expects this ASU to only impact its disclosures with no impacts to its consolidated financial statements, cash flows and financial condition .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 2. Income Taxes U.S. corporate income tax laws and regulations include a territorial tax framework and 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, Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payments to affiliated foreign companies as well as U.S. income tax deductions for Foreign-derived intangible income (FDII). The Company treats GILTI as a discrete adjustment as a component of current income tax expense. Earnings of the Company's foreign subsidiaries are not considered to be indefinitely reinvested outside of the United States. The Company is subject to taxation in various states and many foreign jurisdictions including the People’s Republic of China, including Hong Kong, Taiwan, Vietnam, India, Mexico, Brazil, Canada, Netherlands and the United Kingdom. The Company believes that its tax positions, including intercompany transfer pricing policies, are reasonable and consistent with established transfer pricing methodologies and norms. The Company is under, or may be subject to, audit or examination and assessments by the relevant authorities in respect to these and any other jurisdictions primarily for years 2009 and thereafter. Sometimes audits result in proposed assessments where the ultimate resolution could result in significant additional tax, penalties and interest payments being required. The Company establishes liabilities when, despite its belief that the tax filing positions are appropriate and consistent with tax law, it concludes that it may not be successful in realizing the tax position. In evaluating a tax position, the Company determines whether it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position and in consultation with qualified legal and tax advisors. The total amount of the Company’s tax contingencies may increase in 2024. In addition, changes in state, federal, and foreign tax laws, including transfer pricing and changes in interpretations of these laws, may increase the Company’s existing tax contingencies. The timing of the resolution of income tax examinations can be highly uncertain, and the amounts ultimately paid including interest and penalties, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts recorded. It is reasonably possible that within the next twelve months the Company or its subsidiaries will undergo further audits and examinations by various tax authorities and possibly may reach resolution related to income tax and indirect tax examinations in one or more jurisdictions. These assessments or settlements could result in changes to the Company’s contingencies related to positions on tax filings in future years. The estimate of any ultimate tax liability contains assumptions based on experiences, judgments about potential actions by taxing jurisdictions as well as judgments about the likely outcome of issues that have been raised by the taxing jurisdiction. The Company cannot currently provide an estimate of the range of possible outcomes. The Company recognizes interest expense related to unrecognized tax benefits or underpayment of income taxes in interest expense and recognizes penalties in operating expenses. The Company’s consolidated effective income tax rate was 26.9 % for the three months ended March 31, 2024, as compared to 24.8 % in the comparable period of 2023. For the three months ended March 31, 2024, and 2023, there was no BEAT expense and GILTI expense was insignificant. Though both periods benefited from U.S. income tax deductions for FDII as well as available U.S. Federal foreign tax credits principally from withholding taxes related to our foreign operations, the Company was negatively impacted by higher foreign income tax expense that exceeded available U.S. Federal foreign tax credits in the three months ended March 31, 2024, when compared to the same period in the prior year. The Company has no liability as of March 31, 2024, for the 15 % corporate alternative minimum tax based on financial statement income (BMT), which became effective in 2023 in the U.S., under the Inflation Reduction Act. Some elements of the recorded impacts of the Inflation Reduction Act could be impacted by further legislative action as well as additional interpretations and guidance issued by the Internal Revenue Service or Treasury which could impact the estimates of the amounts the Company would be required to record for BMT in the future.

Basic and Diluted Earnings per

Basic and Diluted Earnings per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Basic and Diluted Earnings per Share	Note 3. 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 March 31, Net earnings Weighted Earnings per 2024 Basic earnings attributable to shareholders $ 169,152 143,194 $ 1.18 Effect of dilutive potential common shares — 931 — Diluted earnings attributable to shareholders $ 169,152 144,125 $ 1.17 2023 Basic earnings attributable to shareholders $ 226,011 154,164 $ 1.47 Effect of dilutive potential common shares — 1,308 — Diluted earnings attributable to shareholders $ 226,011 155,472 $ 1.45 Substantially all outstanding potential common shares as of March 31, 2024 and 2023 were dilutive.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Note 4. Shareholders' Equity The Company has a Discretionary Stock Repurchase Plan approved by the Board of Directors that authorizes management to reduce issued and outstanding common stock. The Board of Directors last amended the plan on February 19, 2024 to authorize repurchases down from 140,000 to 130,000 shares. This authorization has no expiration date. During the three months ended March 31, 2024, there were 3,000 shares repurchased at an average price of $ 120.17 per share, compared to 1,959 shares repurchased at an average price of $ 108.98 during the same period in 2023. Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented. Subsequent to the end of the first quarter of 2024, on May 6, 2024 , the Board of Directors declared a semi-annual dividend of $ .73 per share payable on June 17, 2024 to shareholders of record as of June 3, 2024 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 5. 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: March 31, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 651,078 $ 651,078 $ 601,207 $ 601,207 Corporate commercial paper 660,933 661,574 854,929 856,033 Time deposits and money market funds 58,445 58,445 56,747 56,747 Total cash and cash equivalents $ 1,370,456 $ 1,371,097 $ 1,512,883 $ 1,513,987 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	3 Months Ended
	Mar. 31, 2024
Loss Contingency [Abstract]
Contingencies	Note 6. Contingencies The Company is involved in claims, lawsuits, government investigations, income and indirect tax audits 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 and tax advisors, none of these matters are expected to have a material effect on the Company's operations, cash flows or financial position. The changes in the amounts recorded for 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	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Business Segment Information	Note 7. Business Segment Information The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, directly related cost of transportation and other expenses for each of the Company’s three primary sources of revenue, salaries and other operating expenses, operating income, identifiable assets, capital expenditures 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: UNITED OTHER LATIN NORTH SOUTH EUROPE MIDDLE ELIMI- CONSOLI- For the three months ended March 31, 2024: Revenues $ 751,543 106,850 44,492 544,941 227,719 398,317 134,106 ( 1,290 ) 2,206,678 Directly related cost of transportation 1 $ 403,949 66,710 24,464 426,474 164,024 254,519 93,792 ( 652 ) 1,433,280 Salaries and other operating expenses 2 $ 255,708 33,084 16,764 67,260 40,912 117,088 28,464 ( 658 ) 558,622 Operating income $ 91,886 7,056 3,264 51,207 22,783 26,710 11,850 20 214,776 Identifiable assets at period end $ 2,424,540 177,571 105,151 504,704 265,621 755,569 284,325 ( 29,213 ) 4,488,268 Capital expenditures $ 5,528 1,399 153 282 144 2,218 457 — 10,181 Equity $ 1,531,497 26,143 55,173 185,824 118,194 162,346 160,237 ( 41,749 ) 2,197,665 For the three months ended March 31, 2023: Revenues $ 945,494 109,850 54,695 582,421 224,127 534,464 142,703 ( 1,165 ) 2,592,589 Directly related cost of transportation 1 $ 539,957 69,205 32,302 452,342 157,623 372,260 95,949 ( 536 ) 1,719,102 Salaries and other operating expenses 2 $ 267,683 35,824 19,502 71,140 46,798 127,372 29,832 ( 633 ) 597,518 Operating income $ 137,854 4,821 2,891 58,939 19,706 34,832 16,922 4 275,969 Identifiable assets at period end $ 3,005,502 206,459 119,334 633,970 284,028 844,049 254,458 ( 15,223 ) 5,332,577 Capital expenditures $ 5,444 469 230 590 167 2,983 243 — 10,126 Equity $ 2,284,489 35,977 57,026 317,325 153,321 191,116 154,143 ( 43,029 ) 3,150,368 1 Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings. 2 Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	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, high technology, 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 for 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, 2024. 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. Certain prior year amounts have been reclassified to conform to the current year presentation of other income (expense) in the condensed consolidated statement of earnings.
Revenue Recognition	B. Revenue Recognition The Company derives its revenues by entering into agreements that are generally comprised of a single performance obligation, which is that freight is shipped for and received by the customer. Each performance obligation is comprised of one or more of the Company’s services. The Company's three principal services are the revenue categories presented in the condensed consolidated statements of earnings: 1) airfreight services, 2) ocean freight and ocean services, and 3) customs brokerage and other services. 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. 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 satisfied nearly all performance obligations for the contract liabilities recorded as of December 31, 2023. The Company evaluates whether amounts billed to customers should be reported as revenues on a gross or net basis. 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 the 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. When revenue is recorded on a net basis, the amounts earned are determined using a fixed fee, a per unit of activity fee or a combination thereof. For revenues earned in other capacities, for instance, when the Company does not issue a House Airway Bill (HAWB), a House Ocean Bill of Lading (HOBL) or a House Sea Waybill or otherwise act solely as an agent for the shipper, only the commissions and fees earned for such services are included in revenues. In these transactions, the Company is not a principal and reports only the commissions and fees earned in revenues.
Leases	C. Leases The Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. All ROU assets and lease liabilities are recognized at the commencement date at the present value of lease payments over the lease term. ROU assets are adjusted for lease incentives and initial direct costs. The lease term includes renewal options exercisable at the Company's sole discretion when the Company is reasonably certain to exercise that option. As the Company's leases generally do not have an implicit rate, the Company uses an estimated incremental borrowing rate based on market information available at the commencement date to determine the present value. Certain of our leases include variable payments, which may vary based upon changes in facts or circumstances after the start of the lease. The Company excludes variable payments from ROU assets and lease liabilities to the extent not considered fixed, and instead expenses variable payments as incurred. Lease expense is recognized on a straight-line basis over the lease term and is included in rent and occupancy expenses in the condensed consolidated statement of earnings. Additionally, the Company elected to apply the short-term lease exemption for leases with a non-cancelable period of twelve months or less and has chosen not to separate non-lease components from lease components and instead to account for each as a single lease component.
Accounts Receivable	D. Accounts Receivable The Company’s trade accounts receivable present similar credit risk characteristics and the allowance for credit loss is estimated on a collective basis, using a credit loss-rate method that uses historical credit loss information and considers the current economic environment. Additional allowances may be necessary in the future if changes in economic conditions are significant enough to affect expected credit losses. The Company has recorded an allowance for credit loss in the amounts of $ 6,382 as of March 31, 2024 and $ 6,550 as of December 31, 2023 . Additions and write-offs have not been significant in the periods presented.
Use of Estimates	E. 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 performs, typically at the destination location, self-insured liabilities, accrual of various tax liabilities and accrual of loss contingencies, calculation of share-based compensation expense and estimates related to determining the lease term and discount rate when measuring ROU assets and lease liabilities.
Recent Accounting Pronouncements	F. Recent Accounting Pronouncements Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU) which makes improvements to reportable segment disclosures, by requiring, among other things, the disclosure in interim periods about a reportable segment’s profit or loss and assets that are currently required annually, and disclosures of significant segment expenses and profit and loss measures provided to the chief operating decision maker. The ASU does not change how the Company identifies its operating segments. The Company expects to adopt this standard in its 2024 annual report on Form 10-K and for interim periods starting on January 1, 2025, including retrospective presentation to all prior periods presented in the financial statements. The Company is currently evaluating the impact of this ASU on its segment disclosures and expects no impact on its consolidated financial statements, cash flows and financial condition. Improvements to Income Tax Disclosures In December 2023, the FASB issued an ASU which expands income tax disclosures by requiring the disclosure, on an annual basis, of a tabular rate reconciliation using both percentages and currency amounts, broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, disclosure is required of income taxes paid, net of refunds received, disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. This standard will become effective for the Company on January 1, 2025. The Company may apply this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company expects this ASU to only impact its disclosures with no impacts to its consolidated financial statements, cash flows and financial condition .
Income Tax	U.S. corporate income tax laws and regulations include a territorial tax framework and 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, Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payments to affiliated foreign companies as well as U.S. income tax deductions for Foreign-derived intangible income (FDII). The Company treats GILTI as a discrete adjustment as a component of current income tax expense. Earnings of the Company's foreign subsidiaries are not considered to be indefinitely reinvested outside of the United States.
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.
Cash Equivalents	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.
Segment Reporting	The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, directly related cost of transportation and other expenses for each of the Company’s three primary sources of revenue, salaries and other operating expenses, operating income, identifiable assets, capital expenditures 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)	3 Months Ended
	Mar. 31, 2024
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 March 31, Net earnings Weighted Earnings per 2024 Basic earnings attributable to shareholders $ 169,152 143,194 $ 1.18 Effect of dilutive potential common shares — 931 — Diluted earnings attributable to shareholders $ 169,152 144,125 $ 1.17 2023 Basic earnings attributable to shareholders $ 226,011 154,164 $ 1.47 Effect of dilutive potential common shares — 1,308 — Diluted earnings attributable to shareholders $ 226,011 155,472 $ 1.45

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
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: March 31, 2024 December 31, 2023 Cost Fair Value Cost Fair Value Cash and Cash Equivalents: Cash and overnight deposits $ 651,078 $ 651,078 $ 601,207 $ 601,207 Corporate commercial paper 660,933 661,574 854,929 856,033 Time deposits and money market funds 58,445 58,445 56,747 56,747 Total cash and cash equivalents $ 1,370,456 $ 1,371,097 $ 1,512,883 $ 1,513,987

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information regarding the Company’s operations by geographic area is as follows: UNITED OTHER LATIN NORTH SOUTH EUROPE MIDDLE ELIMI- CONSOLI- For the three months ended March 31, 2024: Revenues $ 751,543 106,850 44,492 544,941 227,719 398,317 134,106 ( 1,290 ) 2,206,678 Directly related cost of transportation 1 $ 403,949 66,710 24,464 426,474 164,024 254,519 93,792 ( 652 ) 1,433,280 Salaries and other operating expenses 2 $ 255,708 33,084 16,764 67,260 40,912 117,088 28,464 ( 658 ) 558,622 Operating income $ 91,886 7,056 3,264 51,207 22,783 26,710 11,850 20 214,776 Identifiable assets at period end $ 2,424,540 177,571 105,151 504,704 265,621 755,569 284,325 ( 29,213 ) 4,488,268 Capital expenditures $ 5,528 1,399 153 282 144 2,218 457 — 10,181 Equity $ 1,531,497 26,143 55,173 185,824 118,194 162,346 160,237 ( 41,749 ) 2,197,665 For the three months ended March 31, 2023: Revenues $ 945,494 109,850 54,695 582,421 224,127 534,464 142,703 ( 1,165 ) 2,592,589 Directly related cost of transportation 1 $ 539,957 69,205 32,302 452,342 157,623 372,260 95,949 ( 536 ) 1,719,102 Salaries and other operating expenses 2 $ 267,683 35,824 19,502 71,140 46,798 127,372 29,832 ( 633 ) 597,518 Operating income $ 137,854 4,821 2,891 58,939 19,706 34,832 16,922 4 275,969 Identifiable assets at period end $ 3,005,502 206,459 119,334 633,970 284,028 844,049 254,458 ( 15,223 ) 5,332,577 Capital expenditures $ 5,444 469 230 590 167 2,983 243 — 10,126 Equity $ 2,284,489 35,977 57,026 317,325 153,321 191,116 154,143 ( 43,029 ) 3,150,368 1 Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings. 2 Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Accounts receivable, allowance for credit loss	$ 6,382	$ 6,550

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Taxes [Line Items]
Effective income tax rate reconciliation, percent	26.90%	24.80%
Income tax expense	$ 62,782	$ 74,580
Corporate alternative minimum tax based on financial statement income	15%
Income tax liability	$ 20,388		$ 15,562
Base Erosion And Anti Abuse Tax
Income Taxes [Line Items]
Income tax expense	0	$ 0
Corporate Alternative Minimum Tax
Income Taxes [Line Items]
Income tax liability	$ 0

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
	Mar. 31, 2024	Mar. 31, 2023
Net Earnings Attributable to Shareholders
Basic earnings attributable to shareholders	$ 169,152	$ 226,011
Diluted earnings attributable to shareholders	$ 169,152	$ 226,011
Weighted Average Shares
Weighted average basic shares outstanding	143,194	154,164
Effect of dilutive potential common shares	931	1,308
Weighted average diluted shares outstanding	144,125	155,472
Earnings Per Share [Abstract]
Basic earnings attributable to shareholders per share	$ 1.18	$ 1.47
Diluted earnings attributable to shareholders per share	$ 1.17	$ 1.45

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - $ / shares shares in Thousands		3 Months Ended
	May 06, 2024	Mar. 31, 2024	Mar. 31, 2023	Feb. 19, 2024	Dec. 31, 2023
Subsequent Event
Class of Stock [Line Items]
Date of declaration of dividends	May 06, 2024
Dividend declared per share	$ 0.73
Date of dividend payment	Jun. 17, 2024
Dividends payable to shareholders date of record	Jun. 03, 2024
Discretionary Plan
Class of Stock [Line Items]
Expected common stock shares issued and outstanding				130,000	140,000
Shares repurchased		3,000	1,959
Average price per share		$ 120.17	$ 108.98

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	$ 1,370,456	$ 1,512,883
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	1,371,097	1,513,987
Cash and Overnight Deposits | Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	651,078	601,207
Cash and Overnight Deposits | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	651,078	601,207
Corporate Commercial Paper | Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	660,933	854,929
Corporate Commercial Paper | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	661,574	856,033
Time deposits and money market funds | Cost
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	58,445	56,747
Time deposits and money market funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash and cash equivalents	$ 58,445	$ 56,747

Business Segment Information -

Business Segment Information - Financial Information Regarding Company's Operations by Geographic Area (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,206,678	$ 2,592,589
Directly related cost of transportation and other expenses	[1]	1,433,280	1,719,102
Salaries and other operating expenses	[2]	558,622	597,518
Operating income		214,776	275,969
Identifiable assets at period end		4,488,268	5,332,577	$ 4,523,809
Capital expenditures		10,181	10,126
Equity		2,197,665	3,150,368	$ 2,391,413	$ 3,113,535
Operating Segments | United States Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		751,543	945,494
Directly related cost of transportation and other expenses	[1]	403,949	539,957
Salaries and other operating expenses	[2]	255,708	267,683
Operating income		91,886	137,854
Identifiable assets at period end		2,424,540	3,005,502
Capital expenditures		5,528	5,444
Equity		1,531,497	2,284,489
Operating Segments | Other North America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		106,850	109,850
Directly related cost of transportation and other expenses	[1]	66,710	69,205
Salaries and other operating expenses	[2]	33,084	35,824
Operating income		7,056	4,821
Identifiable assets at period end		177,571	206,459
Capital expenditures		1,399	469
Equity		26,143	35,977
Operating Segments | Latin America Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		44,492	54,695
Directly related cost of transportation and other expenses	[1]	24,464	32,302
Salaries and other operating expenses	[2]	16,764	19,502
Operating income		3,264	2,891
Identifiable assets at period end		105,151	119,334
Capital expenditures		153	230
Equity		55,173	57,026
Operating Segments | North Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		544,941	582,421
Directly related cost of transportation and other expenses	[1]	426,474	452,342
Salaries and other operating expenses	[2]	67,260	71,140
Operating income		51,207	58,939
Identifiable assets at period end		504,704	633,970
Capital expenditures		282	590
Equity		185,824	317,325
Operating Segments | South Asia Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		227,719	224,127
Directly related cost of transportation and other expenses	[1]	164,024	157,623
Salaries and other operating expenses	[2]	40,912	46,798
Operating income		22,783	19,706
Identifiable assets at period end		265,621	284,028
Capital expenditures		144	167
Equity		118,194	153,321
Operating Segments | Europe Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		398,317	534,464
Directly related cost of transportation and other expenses	[1]	254,519	372,260
Salaries and other operating expenses	[2]	117,088	127,372
Operating income		26,710	34,832
Identifiable assets at period end		755,569	844,049
Capital expenditures		2,218	2,983
Equity		162,346	191,116
Operating Segments | Middle East Africa and India Segment
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		134,106	142,703
Directly related cost of transportation and other expenses	[1]	93,792	95,949
Salaries and other operating expenses	[2]	28,464	29,832
Operating income		11,850	16,922
Identifiable assets at period end		284,325	254,458
Capital expenditures		457	243
Equity		160,237	154,143
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		(1,290)	(1,165)
Directly related cost of transportation and other expenses	[1]	(652)	(536)
Salaries and other operating expenses	[2]	(658)	(633)
Operating income		20	4
Identifiable assets at period end		(29,213)	(15,223)
Capital expenditures		0	0
Equity		$ (41,749)	$ (43,029)
[1] Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings. Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.