Ryder System (R) 10-K 21 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	RYDER SYSTEM INC
Entity Central Index Key	85,961
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,793,693,333
Entity Common Stock, Shares Outstanding		53,116,787

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Lease and rental revenues	$ 3,508,136	$ 3,237,685	$ 3,170,952
Total revenues	8,409,215	7,297,054	6,758,138
Cost of services		2,970,800	2,574,100
Other operating expenses	125,323	115,507	113,461
Selling, general and administrative expenses	854,807	871,224	804,229
Non-operating pension costs	7,541	27,741	37,593
Used vehicle sales, net	21,739	17,241	(972)
Interest expense	178,560	140,350	147,843
Miscellaneous income, net	(5,387)	(44,245)	(13,068)
Restructuring and other charges, net	25,107	21,405	5,074
Total expenses	8,035,354	6,982,509	6,350,882
Earnings from continuing operations before income taxes	373,861	314,545	407,256
Provision for (benefit from) income taxes	98,254	(477,744)	142,024
Earnings from continuing operations	275,607	792,289	265,232
Loss from discontinued operations, net of tax	(2,309)	(457)	(2,163)
Net earnings	$ 273,298	$ 791,832	$ 263,069
Earnings (loss) per common share — Basic
Continuing operations (in dollars per share)	$ 5.24	$ 15	$ 4.99
Discontinued operations (in dollars per share)	(0.04)	(0.01)	(0.04)
Net earnings (in dollars per share)	5.20	15	4.95
Earnings (loss) per common share — Diluted
Continuing operations (in dollars per share)	5.21	14.90	4.95
Discontinued operations (in dollars per share)	(0.04)	(0.01)	(0.04)
Net earnings (in dollars per share)	$ 5.17	$ 14.89	$ 4.91
Services revenue
Revenue	$ 4,280,834	$ 3,538,869	$ 3,123,448
Cost of services	3,655,794	2,970,803	2,574,132
Fuel services revenue
Revenue	620,245	520,500	463,738
Cost of services	605,613	507,440	448,306
Lease and Rental
Cost of services	$ 2,566,257	$ 2,355,043	$ 2,234,284

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 273,298	$ 791,832	$ 263,069
Changes in cumulative translation adjustment and other	(58,960)	66,172	(70,590)
Other comprehensive (loss) income:
Amortization of pension and postretirement items	27,499	31,520	29,493
Income tax expense related to amortization of pension and postretirement items	(6,422)	(11,034)	(10,452)
Amortization of pension and postretirement items, net of tax	21,077	20,486	19,041
Change in net actuarial loss and prior service cost	(83,695)	49,680	(98,092)
Income tax benefit (expense) related to change in net actuarial loss and prior service cost	18,327	(9,807)	28,344
Change in net actuarial loss and prior service cost, net of taxes	(65,368)	39,873	(69,748)
Other comprehensive (loss) income, net of taxes	(103,251)	126,531	(121,297)
Comprehensive income	$ 170,047	$ 918,363	$ 141,772

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 68,111	$ 78,348
Receivables, net	1,219,426	1,010,908
Inventories	79,228	73,543
Prepaid expenses and other current assets	201,626	160,094
Total current assets	1,568,391	1,322,893
Revenue earning equipment, net	9,497,970	8,355,262
Operating property and equipment, net	843,813	776,704
Goodwill	475,206	395,504
Intangible assets, net	59,075	42,930
Direct financing leases and other assets	606,629	570,706
Total assets	13,051,084	11,463,999
Current liabilities:
Short-term debt and current portion of long-term debt	929,952	826,069
Accounts payable	731,876	599,303
Accrued expenses and other current liabilities	630,493	589,603
Total current liabilities	2,292,321	2,014,975
Long-term debt	5,693,646	4,583,582
Other non-current liabilities	849,946	812,642
Deferred income taxes	1,304,844	1,211,129
Total liabilities	10,140,757	8,622,328
Shareholders’ equity:
Preferred stock, no par value per share — authorized, 3,800,917; none outstanding, December 31, 2018 or 2017	0	0
Common stock, $0.50 par value per share — authorized, 400,000,000; outstanding, December 31, 2018 — 53,116,485; December 31, 2017 — 52,955,314	26,559	26,478
Additional paid-in capital	1,084,391	1,051,017
Retained earnings	2,710,696	2,471,677
Accumulated other comprehensive loss	(911,319)	(707,501)
Total shareholders’ equity	2,910,327	2,841,671
Total liabilities and shareholders’ equity	$ 13,051,084	$ 11,463,999

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	3,800,917	3,800,917
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares outstanding (in shares)	53,116,485	52,955,314

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities of continuing operations:
Net earnings	$ 273,298	$ 791,832	$ 263,069
Less: Loss from discontinued operations, net of tax	(2,309)	(457)	(2,163)
Earnings from Continuing Operations	275,607	792,289	265,232
Depreciation expense	1,394,964	1,255,175	1,187,050
Goodwill impairment charge	15,513	0	0
Used vehicle sales, net	21,739	17,241	(972)
Amortization expense and other non-cash charges, net	31,153	8,335	38,857
Non-operating pension costs and share-based compensation expense	32,493	46,708	56,257
Deferred income tax expense (benefit)	104,602	(500,298)	125,169
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(189,331)	(173,840)	(51,754)
Inventories	(5,782)	(3,296)	(5,906)
Prepaid expenses and other assets	(65,797)	(38,878)	(14,211)
Accounts payable	16,869	66,149	94,320
Accrued expenses and other non-current liabilities	3,065	78,401	(93,020)
Net cash provided by operating activities from continuing operations	1,635,095	1,547,986	1,601,022
Cash flows from financing activities from continuing operations:
Net change in commercial paper borrowings and revolving credit facilities	51,888	89,519	(77,798)
Debt proceeds	1,970,620	873,302	674,928
Debt repaid	(797,808)	(962,577)	(669,047)
Dividends on common stock	(111,864)	(95,813)	(91,043)
Common stock issued	17,020	20,508	18,087
Common stock repurchased	(30,810)	(78,316)	(37,274)
Debt issuance costs and other items	(5,600)	(1,738)	(3,775)
Net cash provided by (used in) financing activities from continuing operations	1,093,446	(155,115)	(185,922)
Cash flows from investing activities from continuing operations:
Purchases of property and revenue earning equipment	(3,050,409)	(1,860,436)	(1,905,157)
Sales of revenue earning equipment	379,716	376,743	414,249
Sales of operating property and equipment	16,606	52,257	7,051
Acquisitions, net of cash acquired	(167,372)	(7,240)	0
Collections on direct finance leases and other items	74,967	73,172	76,510
Net cash used in investing activities from continuing operations	(2,746,492)	(1,365,504)	(1,407,347)
Effect of exchange rates on cash, cash equivalents, and restricted cash	4,694	(5,539)	(9,482)
(Decrease) increase in cash, cash equivalents, and restricted cash from continuing operations	(13,257)	21,828	(1,729)
Decrease in cash, cash equivalents, and restricted cash from discontinued operations	(1,654)	(1,445)	(1,929)
(Decrease) increase in cash, cash equivalents, and restricted cash	(14,911)	20,383	(3,658)
Cash, cash equivalents, and restricted cash at January 1	83,022	62,639	66,297
Cash, cash equivalents, and restricted cash at December 31	$ 68,111	$ 83,022	$ 62,639

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands		Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2015		$ 1,987,111	$ 0	$ 26,745	$ 1,006,021	$ 1,667,080	$ (712,735)
Beginning balance (in shares) at Dec. 31, 2015				53,490,603
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income		141,772				263,069	(121,297)
Common stock dividends declared and paid		(91,100)				(91,100)
Common stock issued under employee stock option and stock purchase plans	[1]	18,006		$ 254	17,752
Common stock issued under employee stock option and stock purchase plans (in shares)	[1]			507,104
Benefit plan stock purchases/sales	[2]	81		$ 1	80
Benefit plan stock purchases/sales (in shares)	[2]			1,709
Common stock repurchases		(37,274)		$ (268)	(9,968)	(27,038)
Common stock repurchases, shares (in shares)				(536,298)
Share-based compensation		18,664			18,664
Ending balance at Dec. 31, 2016		2,057,656	0	$ 26,732	1,032,549	1,832,407	(834,032)
Ending balance (in shares) at Dec. 31, 2016				53,463,118
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard		20,396				20,396
Comprehensive income		918,363				791,832	126,531
Common stock dividends declared and paid		(95,507)				(95,507)
Common stock issued under employee stock option and stock purchase plans	[1]	20,489		$ 289	20,200
Common stock issued under employee stock option and stock purchase plans (in shares)	[1]			578,847
Benefit plan stock purchases/sales	[2]	19		$ 0	19
Benefit plan stock purchases/sales (in shares)	[2]			250
Common stock repurchases		(78,316)		$ (543)	(20,718)	(57,055)
Common stock repurchases, shares (in shares)				(1,086,901)
Share-based compensation		18,967			18,967
Ending balance at Dec. 31, 2017		$ 2,841,671	0	$ 26,478	1,051,017	2,471,677	(707,501)
Ending balance (in shares) at Dec. 31, 2017		52,955,314		52,955,314
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income		$ 170,047				273,298	(103,251)
Common stock dividends declared and paid		(112,553)				(112,553)
Common stock issued under employee stock option and stock purchase plans	[1]	16,952		$ 293	16,659
Common stock issued under employee stock option and stock purchase plans (in shares)	[1]			585,290
Benefit plan stock purchases/sales	[2]	68		$ 0	68
Benefit plan stock purchases/sales (in shares)	[2]			700
Common stock repurchases		(30,810)		$ (212)	(8,305)	(22,293)
Common stock repurchases, shares (in shares)				(424,819)
Share-based compensation		24,952			24,952
Ending balance at Dec. 31, 2018		$ 2,910,327	$ 0	$ 26,559	$ 1,084,391	2,710,696	$ (911,319)
Ending balance (in shares) at Dec. 31, 2018		53,116,485		53,116,485
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard		$ (100,567)				$ 100,567
[1]	Net of common shares delivered as payment for the exercise price or to satisfy the holders’ withholding tax liability upon exercise of options.
[2]	Represents open-market transactions of common shares by the trustee of Ryder’s deferred compensation plans.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared and paid, (in dollars per share)	$ 2.12	$ 1.80	$ 1.70

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation and Presentation The consolidated financial statements include the accounts of Ryder System, Inc. (Ryder) and all entities in which Ryder has a controlling voting interest (“subsidiaries”) and variable interest entities (“VIEs”) where Ryder is determined to be the primary beneficiary. Ryder is deemed to be the primary beneficiary if we have the power to direct the activities that most significantly impact the entity’s economic performance and we share in the significant risks and rewards of the entity. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of our consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on management’s best knowledge of historical trends, actions that we may take in the future, and other information available when the consolidated financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available. Areas where the nature of the estimate make it reasonably possible that actual results could materially differ from the amounts estimated include: depreciation and residual value guarantees, employee benefit plan obligations, self-insurance accruals, impairment assessments on long-lived assets (including goodwill and indefinite-lived intangible assets), allowance for accounts receivable, income tax liabilities and contingent liabilities. Cash Equivalents Cash equivalents represent cash in excess of current operating requirements invested in short-term, interest-bearing instruments with maturities of three months or less at the date of purchase and are stated at cost. Revenue Recognition We recognize revenue upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for amounts collected from customers for taxes, such as sales tax, that are remitted to the applicable taxing authorities. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We generally recognize revenue over time as we perform because of continuous transfer of control to our customers. We generate revenue primarily through contracts with customers to lease, rent and maintain revenue earning equipment and to provide logistics management and dedicated services. We classify our revenues in the categories of lease and rental, services and fuel. Our lease and rental revenues are accounted for in accordance with existing lease guidance in Leases (Topic 840) and our services and fuel revenues are accounted for in accordance with revenue recognition guidance in Revenue from Contracts with Customers (Topic 606) . Lease and rental Lease and rental includes ChoiceLease and commercial rental revenues from our FMS business segment. We offer a full service lease as well as a lease with more flexible maintenance options under our ChoiceLease product line, which are marketed, priced and managed as bundled lease arrangements, and include equipment, service and financing components. We do not offer a stand-alone unbundled lease of new vehicles. For these reasons, both the lease and service components of our leases are included within lease and rental revenues. ChoiceLease revenue is recognized in accordance with existing lease accounting guidance in Topic 840. Our ChoiceLease arrangements include lease deliverables such as the lease of a vehicle and the executory agreement for the maintenance, insurance, taxes and other services related to the leased vehicles during the lease term. Arrangement consideration is allocated between the lease deliverables and non-lease deliverables based on management's best estimate of the relative fair value of each deliverable. The arrangement consideration is accounted for pursuant to accounting guidance on leases. Our ChoiceLease arrangements provide for a fixed charge billing and a variable charge billing based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Revenue from ChoiceLease and rental agreements is recognized based on the classification of the arrangement, typically as either an operating or direct financing lease (DFL). The majority of our leases and all of our rental arrangements are classified as operating leases and, therefore, we recognize lease and commercial rental revenue on a straight-line basis as it becomes receivable over the term of the lease or rental arrangement. Lease and rental agreements do not usually provide for scheduled rent increases or escalations. However, most lease agreements allow for rate changes based upon changes in the Consumer Price Index (CPI). ChoiceLease and rental agreements also provide for vehicle usage charges based on a time charge and/or a fixed per-mile charge. The fixed time charge, the fixed per-mile charge and the changes in rates attributed to changes in the CPI are considered contingent rentals and are not considered fixed or determinable until the effect of CPI changes is implemented or the equipment usage occurs. Leases not classified as operating leases are generally considered direct financing leases. We recognize revenue for direct financing leases using the effective interest method, which provides a constant periodic rate of return on the outstanding investment on the lease. Cash receipts on impaired direct financing lease receivables are first applied to the direct financing lease receivable and then to any unrecognized income. A direct financing lease receivable is considered impaired, based on current information and events, if it is probable that we will be unable to collect all amounts due according to the contractual terms of the lease. Services Services include SelectCare and other revenues from our FMS business segment and all DTS and SCS revenues. Under our SelectCare arrangements, we provide maintenance and repairs required to keep a vehicle in good operating condition, schedule preventive maintenance inspections and provide access to emergency road service and substitute vehicles. The vast majority of our services are routine services performed on a recurring basis throughout the term of the arrangement. From time to time, we provide non-routine major repair services in order to place a vehicle back in service. Through our SelectCare product line, we provide maintenance services to customers who do not choose to lease vehicles from us. Our maintenance service arrangement provides for a monthly fixed charge and a monthly variable charge based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Most maintenance agreements allow for rate changes based upon changes in the CPI. The fixed per-mile charge and the changes in rates attributed to changes in the CPI are recognized as earned. Costs associated with the activities performed under our maintenance arrangements are primarily comprised of labor, parts and outside work. These costs are expensed as incurred. Non-chargeable maintenance costs have been allocated and reflected within “Cost of services” based on the proportionate maintenance-related labor costs relative to all product lines. The maintenance service is the only performance obligation in SelectCare contracts. This single performance obligation is satisfied at a point in time for transactional maintenance services or over time for contract maintenance agreements. For contract maintenance agreements, the maintenance performance obligation represents a series of distinct maintenance services performed during the contract period as the services provided are substantially the same and have the same pattern of transfer to our customers. Revenue from SelectCare contracts is recognized as maintenance services are rendered over the terms of the related arrangements. We generally account for long-term maintenance contracts as one-year contracts since our maintenance arrangements are generally cancelable, without penalty, after one year. As a practical expedient, we do not disclose information about remaining performance obligations that have original expected durations of one year or less. For maintenance contracts that are longer than one year (i.e., not cancelable without penalty), the revenue we recognize corresponds with our performance completed to date. We measure the progress of transfer based on the costs incurred to provide the service to the customer. The amount that we have the right to invoice for services performed aligns with this measure. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the fixed and variable revenue recognized corresponds to the amount we have the right to invoice for services performed. In our DTS business segment, we combine equipment, maintenance, drivers, administrative services and additional services to provide customers with a single integrated dedicated transportation solution. DTS transportation solutions are customized for our customers based on a transportation analysis to create a logistics design that includes the routing and scheduling of vehicles, the efficient use of vehicle capacity and overall asset utilization. In our SCS business, we offer a broad range of logistics management services designed to optimize the supply chain and address the key business requirements of our customers. SCS operates by industry verticals (Automotive, Technology and Healthcare, Consumer Packaged Goods and Retail, and Industrial) to enable our teams to focus on the specific needs of their customers. Our SCS services are supported by a variety of information technology and engineering solutions. Revenues from DTS and SCS service contracts are recognized as services are rendered in accordance with contract terms, which typically include (1) fixed and variable billing rates, (2) cost-plus billing rates (input method based on actual costs incurred to perform services and a contracted mark-up), or (3) variable only or fixed only billing rates for the services. Our billing structure aligns with the value transferred to our customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Our customers contract us to provide an integrated service of transportation or supply chain logistical services into a single transportation or supply chain solution. Therefore, we typically account for DTS and SCS service contracts as one performance obligation satisfied over time. Less commonly, however, we may promise to provide distinct goods or services within a contract, in which case we separate the contract into more than one performance obligation. If a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We infrequently sell standard products with observable standalone selling prices. More frequently, we sell a customized customer-specific solution, and in these cases we use the expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. Fuel Fuel services include fuel services revenue from our FMS business segment. We provide our FMS customers with access to fuel at our maintenance facilities across the United States and Canada. Fuel services revenue is invoiced to customers at contracted rates, separate from other services being provided in other contracts, or at retail prices. Revenue from fuel services is recognized when fuel is delivered to customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Fuel is largely a pass-through to our customers, for which we realize minimal changes in profitability during periods of steady market fuel prices. However, profitability may be positively or negatively impacted by sudden increases or decreases in market fuel prices during a short period of time as customer pricing for fuel services is established based on trailing market fuel costs. Significant Judgments and Estimates Our contracts with customers often include promises to transfer multiple services to a customer. Determining whether these services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Our DTS and SCS services depend on a significant level of integration and interdependency between the services provided within a contract. Judgment is required to determine whether each service is considered distinct and accounted for separately, or not distinct and accounted for together as a significant integrated service and recognized over time. In making this judgment, we consider whether the services provided, within the context of the contract, represent the transfer of individual services or a combined bundle of services to the customer. This involves evaluating the promises to a customer within a contract to identify the services that need to be performed in order for the promise to be satisfied. Since multiple services that occur at different points in time during a contract may be accounted for as an integrated service, judgment is required to assess the pattern of delivery to our customers. Our judgments on collectibility are initially established when a business relationship with a customer is initiated and is continuously monitored as services are provided. We have a credit rating system based on internally developed standards and ratings provided by third parties. Our credit rating system, along with monitoring for delinquent payments, allows us to make decisions as to whether collectibility is probable. Factors considered during this process include historical payment trends, industry risks, liquidity of the customer, years in business, and judgments, liens or bankruptcies. When collectibility is not considered reasonably assured (typically when a customer is 120 days past due), revenue is not recognized until it is determined that the customer has the ability and intention to pay. Contract Balances We do not have material contract assets as we generally invoice customers as we perform services. Contract receivables are recorded in “Receivables, net” in the Consolidated Balance Sheets. Payment terms vary by contract type, although terms generally include a requirement of payment within 30 to 90 days. As a practical expedient, we do not assess whether a contract has a significant financing component as the period between the receipt of customer payment and the transfer of service to the customer is less than a year. Our contract liabilities consist of deferred revenue. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts that are refundable. We classify deferred revenue as a current liability as we expect to recognize this revenue within 12 months. Revenue is recognized upon satisfaction of the performance obligation. Costs to Obtain and Fulfill a Contract Our incremental direct costs of obtaining and fufilling a contract, which primarily consist of sales commissions and start-up costs, are capitalized and amortized over the period of contract performance or a longer period, generally the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. We capitalize incremental direct costs of obtaining a contract that i) relate directly to the contract and ii) are expected to be recovered through revenue generated under the contract. This requires an evaluation of whether the costs are incremental and would not have occurred absent the customer contract. The current and noncurrent portions of incremental costs to obtain and fulfill a contract are included in “Prepaid expenses and other current assets” and “Direct financing leases and other assets” respectively, in the Consolidated Balance Sheets. Costs are amortized in “Selling, general and administrative expenses” in the Consolidated Statements of Earnings on a straight-line basis over the expected period of benefit. Accounts Receivable Allowance We maintain an allowance for uncollectible customer receivables and an allowance for billing adjustments related to certain discounts and other customer concessions. Estimates are updated regularly based on historical experience of bad debts and billing adjustments processed, current collection trends and aging analysis. Accounts are charged against the allowance when determined to be uncollectible. Inventories Inventories, which consist primarily of fuel, tires and vehicle parts, are valued at the lower of cost using the weighted-average cost basis or net realizable value. Revenue Earning Equipment, Operating Property and Equipment, and Depreciation Revenue earning equipment, comprised of vehicles and operating property and equipment are initially recorded at cost inclusive of vendor rebates. Revenue earning equipment and operating property and equipment under capital lease are initially recorded at the lower of the present value of minimum lease payments or fair value. Vehicle repairs and maintenance that extend the life or increase the value of a vehicle are capitalized, whereas ordinary maintenance and repairs (including tire replacement or repair) are expensed as incurred. Direct costs incurred in connection with developing or obtaining internal-use software are capitalized. Costs incurred during the preliminary software development project stage, as well as maintenance and training costs, are expensed as incurred. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the term of the related lease, which may include one or more option renewal periods where failure to exercise such options would result in an economic penalty in such amount that renewal appears, at the inception of the lease, to be reasonably assured. If a substantial additional investment is made in a leased property during the term of the lease, we re-evaluate the lease term to determine whether the investment, together with any penalties related to non-renewal, would constitute an economic penalty in such amount that renewal appears to be reasonably assured. Provision for depreciation is computed using the straight-line method on all depreciable assets. Depreciation expense has been recognized throughout the Consolidated Statement of Earnings depending on the nature of the related asset. We periodically review and adjust, as appropriate, the residual values and useful lives of revenue earning equipment. Our review of the residual values and useful lives of revenue earning equipment is established with a long-term view considering historical market price changes, current and expected future market price trends, expected lives of vehicles and extent of alternative uses. Factors that could cause actual results to materially differ from estimates include, but are not limited to, unforeseen changes in technology innovations. In addition, we also monitor market trends throughout the year and assess residual values of vehicles expected to be sold in the near term and may adjust residual values for these vehicles. We routinely dispose of used revenue earning equipment as part of our FMS business. Revenue earning equipment held for sale is stated at the lower of carrying amount or fair value less costs to sell. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. Fair value is determined based upon recent market prices obtained from our own sales experience for sales of each class of similar assets and vehicle condition, as well as anticipated market price changes. Losses on vehicles held for sale for which carrying values exceeded fair value are recognized at the time they arrive at our used truck centers and are presented within "Used vehicle sales, net" in the Consolidated Statements of Earnings. Gains and losses on sales of operating property and equipment are reflected in “Miscellaneous income, net.” Goodwill and Other Intangible Assets Goodwill on acquisitions represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets. Factors that contribute to the recognition of goodwill in our acquisitions include (i) expected growth rates and profitability of the acquired companies, (ii) securing buyer-specific synergies that increase revenue and profits and are not otherwise available to market participants, (iii) significant cost savings opportunities, (iv) experienced workforce and (v) our strategies for growth in sales, income and cash flows. Goodwill and other intangible assets with indefinite useful lives are not amortized, but rather, are tested for impairment at least annually (October 1 st ). In evaluating goodwill for impairment, we have the option to first assess qualitative factors to determine whether further impairment testing is necessary. Among other relevant events and circumstances that affect the fair value of reporting units, we consider individual factors such as macroeconomic conditions, changes in our industry and the markets in which we operate, as well as our reporting units' historical and expected future financial performance. If we conclude that it is more likely than not that a reporting unit's fair value is less than its carrying value or we bypass the optional qualitative assessment, recoverability is assessed by comparing the fair value of the reporting unit with its carrying amount. If a reporting unit exceeds its fair value, we will measure any goodwill impairment losses as the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Our valuation of fair value for certain reporting units is determined based on a discounted future cash flow model that uses five years of projected cash flows and a terminal value based on growth assumptions. For certain reporting units, fair value is determined based on the application of current trading multiples for comparable publicly-traded companies and the historical pricing multiples for comparable merger and acquisition transactions that have occurred in our industry. Rates used to discount cash flows are dependent upon interest rates and the cost of capital based on our industry and capital structure, adjusted for equity and size risk premiums based on market capitalization. Estimates of future cash flows are dependent on our knowledge and experience about past and current events and assumptions about conditions we expect to exist, including long-term growth rates, capital requirements and useful lives. Our estimates of cash flows are also based on historical and future operating performance, economic conditions and actions we expect to take. In addition to these factors, our DTS and SCS reporting units are dependent on several key customers or industry sectors. The loss of a key customer may have a significant impact to our DTS or SCS reporting units, causing us to assess whether or not the event resulted in a goodwill impairment loss. In making our assessments of fair value, we rely on our knowledge and experience about past and current events and assumptions about conditions we expect to exist in the future. These assumptions are based on a number of factors, including future operating performance, economic conditions, actions we expect to take and present value techniques. There are inherent uncertainties related to these factors and management’s judgment in applying them to the analysis of goodwill impairment. It is possible that assumptions underlying the impairment analysis will change in such a manner that impairment in value may occur in the future. Identifiable intangible assets not subject to amortization are assessed for impairment using a similar process used to evaluate goodwill as described above. Intangible assets with finite lives are amortized over their respective estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment using a similar process used to evaluate long-lived assets described below. Impairment of Long-Lived Assets Other than Goodwill Long-lived assets held and used, including revenue earning equipment, operating property and equipment and intangible assets with finite lives, are tested for recoverability when circumstances indicate that the carrying amount of assets may not be recoverable. Recoverability of long-lived assets is evaluated by comparing the carrying value of an asset or asset group to management’s best estimate of the undiscounted future operating cash flows (excluding interest charges) expected to be generated by the asset or asset group. If these comparisons indicate that the carrying value of the asset or asset group is not recoverable, an impairment loss is recognized for the amount by which the carrying value of the asset or asset group exceeds fair value. Fair value is determined by a quoted market price, if available, or an estimate of projected future operating cash flows, discounted using a rate that reflects the related operating segment’s average cost of funds. Long-lived assets to be disposed of, including revenue earning equipment and operating property and equipment, are reported at the lower of carrying amount or fair value less costs to sell. Self-Insurance Accruals We retain a portion of the accident risk under auto liability, workers’ compensation and other insurance programs. Under our insurance programs, we retain the risk of loss in various amounts, generally up to $3 million on a per occurrence basis. Self-insurance accruals are based primarily on an actuarially estimated, undiscounted cost of claims, which includes claims incurred but not reported. Such liabilities are based on estimates. Historical loss development factors are utilized to project the future development of incurred losses, and these amounts are adjusted based upon actual claim experience and settlements. While we believe that the amounts are adequate, there can be no assurance that changes to our actuarial estimates may not occur due to limitations inherent in the estimation process. Changes in the actuarial estimates of these accruals are charged or credited to earnings in the period determined. Amounts estimated to be paid within the next year have been classified as “Accrued expenses and other current liabilities” with the remainder included in “Other non-current liabilities” in our Consolidated Balance Sheets. We also maintain additional insurance at certain amounts in excess of our respective underlying retention. Amounts recoverable from insurance companies are not offset against the related accrual as our insurance policies do not extinguish or provide legal release from the obligation to make payments related to such risk-related losses. Amounts expected to be received within the next year from insurance companies have been included within “Receivables, net” with the remainder included in “Direct financing leases and other assets” and are recognized only when realization of the claim for recovery is considered probable. The accrual for the related claim has been classified within “Accrued expenses and other current liabilities” if it is estimated to be paid within the next year, otherwise it has been classified in “Other non-current liabilities” in our Consolidated Balance Sheets. Income Taxes Our provision for income taxes is based on reported earnings before income taxes. Deferred taxes are recognized for the future tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, using tax rates in effect for the years in which the differences are expected to reverse. Subject to the unique provisions of SEC Staff Accounting Bulletin No. 118 (SAB 118) related to the effects of the 2017 Tax Cuts and Jobs Act, the effects of changes in tax laws on deferred tax balances are recognized in the period the new legislation is enacted. Valuation allowances are recognized to reduce deferred tax assets to the amount that is more likely than not to be realized. In assessing the likelihood of realization, management considers estimates of future sources of taxable income. We calculate our current and deferred tax position based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. We are subject to tax audits in numerous jurisdictions in the U.S. and around the world. Tax audits by their very nature are often complex and can require several years to complete. In the normal course of business, we are subject to challenges from the Internal Revenue Service (IRS) and other tax authorities regarding amounts of taxes due. These challenges may alter the timing or amount of taxable income or deductions, or the allocation of income among tax jurisdictions. As part of our calculation of the provision for income taxes on earnings, we determine whether the benefits of our tax positions are at least more likely than not of being sustained upon audit based on the technical merits of the tax position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Such accruals require management to make estimates and judgments with respect to the ultimate outcome of a tax audit. Actual results could vary materially from these estimates. We adjust these reserves as well as the impact of any related interest and penalties in light of changing facts and circumstances, such as the progress of a tax audit. Interest and penalties related to income tax exposures are recognized as incurred and included in "provision for (benefit from) income taxes” in our Consolidated Statements of Earnings. Accruals for income tax exposures, including penalties and interest, expected to be settled within the next year are included in “Accrued expenses and other current liabilities” with the remainder included in “Other non-current liabilities” in our Consolidated Balance Sheets. The federal benefit from state income tax exposures is included in “Deferred income taxes” in our Consolidated Balance Sheets. Severance and Contract Termination Costs We recognize liabilities for severance and contract termination costs based upon the nature of the cost to be incurred. For involuntary separation plans that are completed within the guidelines of our written involuntary separation plan, we recognize the liability when it is probable and reasonably estimable. For one-time termination benefits, such as additional severance pay or benefit payouts, and other exit costs, such as contract termination costs, the liability is measured and recognized initially at fair value in the period in which the liability is incurred, with subsequent changes to the liability recognized as adjustments in the period of change. Severance related to position eliminations that are part of a restructuring plan is included in "Restructuring and other

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Cloud Computing Arrangements In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Topic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. ASU 2018-15 aligns the accounting for costs incurred to implement a CCA that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Entities are permitted to apply either a retrospective or prospective approach to adopt the guidance. We are currently evaluating the impact of the adoption of this update on our consolidated financial position, results of operations, and cash flows. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits - but does not require - companies to reclassify stranded tax effects caused by the 2017 Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they elected to make the reclassification or not. The standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. We adopted this standard using the aggregate portfolio approach and elected to reclassify $101 million of tax benefits resulting from the federal income tax rate change, net of associated state tax effect, from accumulated other comprehensive loss to retained earnings as of the beginning of 2018. This standard did not impact our results of operations or cash flows. Share-Based Compensation In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The amendments in this update are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, with early adoption permitted. We adopted the standard during the first quarter of 2018 and it did not have an impact on our consolidated financial position, results of operations, or cash flows. Business Combinations In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The objective of the update is to add guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses . The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. Companies must use a prospective approach to adopt ASU 2017-01, which was effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We prospectively adopted this standard in the first quarter of 2018. The new standard did not have an impact to the Company's consolidated financial statements during 2018. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued additional guidance related to the statement of cash flows, which requires companies to explain the change during the period in the total of cash, cash equivalents, and restricted cash or restricted cash equivalents. The standard was effective January 1, 2018, with early adoption permitted. We adopted the standard during the first quarter of 2018. As a result of this update, restricted cash is included within cash and cash equivalents on our statements of consolidated cash flows. We did not have restricted cash as of December 31, 2018. As of December 31, 2017, we had restricted cash of $5 million in prepaid expenses and other current assets associated with our like-kind exchange program for certain of our U.S. based revenue earning equipment. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets out the principles for the identification, measurement, recognition, presentation and disclosure of leases. The FASB issued a number of subsequent updates to the standard. The standard impacts the accounting for both lessors and lessees. We will adopt the standard effective January 1, 2019, using the modified retrospective transition method and initial application date of January 1, 2017. We do not intend to elect the allowable transition practical expedients package and are therefore required to reassess as of January 1, 2017, and throughout 2017 and 2018, 1) whether contracts contain leases, 2) lease classification, and 3) initial direct costs. For our facility and equipment leases, we intend to elect the practical expedient for lessees, to combine lease and non-lease components. We do not intend to utilize the practical expedient that allows the use of hindsight by lessees and lessors in determining the lease term or in assessing impairment of right-of-use assets. The new standard requires lessors to identify and evaluate the lease and non-lease components in arrangements containing a lease, provides clarification on the scope of non-lease components and provides more guidance on how to identify and separate the components. From a lessor perspective, the adoption of the new lease standard will primarily impact our ChoiceLease product line, which includes a vehicle lease as well as maintenance and other services. The lease component will be accounted for using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. We will generally continue to recognize revenue for the lease component of the product line on a straight-line basis. The non-lease component will be accounted for in accordance with revenue guidance under Topic 606. Revenue from maintenance services will be recognized consistent with the estimated pattern of maintenance costs, which will generally result in the recognition of a contract liability for some portion of the customer's payments allocated to the service component of the arrangement. Maintenance services are typically not performed evenly over the life of a ChoiceLease contract. We are implementing a lessor revenue recognition system, which will both assist in separating the lease and non-lease components, primarily maintenance services, as well as account for the pattern of revenue recognition of the separate lease and non-lease components under our lessor arrangements. Upon the adoption of the lease standard, we expect to record a material cumulative-effect adjustment to retained earnings as of January 1, 2017, to recognize deferred revenue, net of the deferred tax impact, related to the maintenance services. We continue to evaluate the impact of adoption of the lessor requirements of this standard on our results of operations; however, such requirements may have a significant impact on our results of operations due to the change to the timing and pattern of recognition of income. The adoption of the lessor requirements will have no impact on our cash flows. The standard requires lessees to classify leases as either finance or operating leases. This classification will determine whether the related expense will be recognized based on asset amortization and interest on the obligation (finance leases) or on a straight-line basis over the term of the lease (operating lease). A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. We are implementing a lease management system to track and record the right-of-use asset and liability for all leases with a term of greater than 12 months. Upon the adoption of the lease standard, we will record right-of-use assets and lease liabilities as of January 1, 2017, and retrospectively adjust the results of operations and financial position throughout 2017 and 2018 for the effects of the new standard. The difference between the right-of-use assets and lease liabilities, net of the deferred tax impact, will be recorded as cumulative-effect adjustment to retained earnings. We do not expect the lessee requirements to have a material impact on our consolidated financial position, results of operations or cash flows. We are in the process of completing additional process changes and updating internal controls to ensure the new reporting and disclosure requirements are met upon adoption. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which together with related, subsequently issued guidance, requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted Topic 606 in the first quarter of 2018 using the full retrospective method, which required us to retrospectively adjust each prior reporting period presented. Upon adoption of Topic 606, we applied the standard’s practical expedient that permits the omission of disclosures of the prior period allocation of the transaction price to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Statements of Operations and Comprehensive Income results as follows (in millions, except per share amounts): Year ended December 31, 2017 Year ended December 31, 2016 New Revenue New Revenue As Previously Standard As Previously Standard Reported Adjustments As Revised Reported Adjustments As Revised Services revenue (1) $ 3,571.4 (32.5 ) 3,538.9 $ 3,152.3 (28.9 ) 3,123.4 Total revenues 7,329.6 (32.5 ) 7,297.1 6,787.0 (28.9 ) 6,758.1 Cost of services (1) 3,003.3 (32.5 ) 2,970.8 2,603.0 (28.9 ) 2,574.1 Selling, general and administrative expenses 872.0 (0.8 ) 871.2 805.1 (0.9 ) 804.2 Earnings from continuing operations before income taxes 313.8 0.8 314.5 406.4 0.9 407.3 Provision for income taxes (477.2 ) (0.5 ) (477.7 ) 141.7 0.3 142.0 Earnings from continuing operations 791.0 1.3 792.3 264.6 0.6 265.2 Net earnings 790.6 1.3 791.8 262.5 0.6 263.1 Comprehensive income 917.1 1.3 918.4 141.2 0.6 141.8 Earnings per common share - Basic Continuing operations $ 14.98 0.02 15.00 $ 4.98 0.01 4.99 Earnings per common share - Diluted Continuing operations $ 14.87 0.03 14.90 $ 4.94 0.01 4.95 ———————————— (1) Amount includes $33 million and $ 29 million for the years ended December 31, 2017 and 2016, respectively, related to correction of a prior period error. We historically accounted for certain freight brokerage agreements as a principal and presented revenue and costs related to subcontracted transportation on a gross basis in our financial statements. In adopting Topic 606, we reviewed and evaluated our existing revenue contracts and determined that certain of our freight brokerage agreements should have historically been presented on a net basis as an agent. We evaluated the materiality of this revision, quantitatively and qualitatively. We concluded it was not material to any of our previously issued consolidated financial statements and correction as an out of period adjustment in the current period was not material. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Balance Sheet as follows (in millions): December 31, 2017 New Revenue As Previously Standard Reported Adjustment As Revised Prepaid expenses and other current assets $ 159.5 0.6 160.1 Total current assets 1,322.3 0.6 1,322.9 Direct financing leases and other assets 559.5 11.2 570.7 Total assets 11,452.2 11.8 11,464.0 Accrued expenses and other current liabilities 587.4 2.2 589.6 Total current liabilities 2,012.8 2.2 2,015.0 Other non-current liabilities 812.1 0.5 812.6 Deferred income taxes 1,208.8 2.3 1,211.1 Total liabilities 8,617.2 5.1 8,622.3 Retained earnings 2,465.0 6.7 2,471.7 Total shareholders' equity 2,835.0 6.7 2,841.7 Total liabilities and shareholders' equity 11,452.2 11.7 11,464.0

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On April 2, 2018, we acquired all of the outstanding equity of MXD Group, Inc. (MXD), an e-commerce fulfillment provider with a national network of facilities, including last mile delivery capabilities, for a purchase price of $ 118 million . The acquisition is included in our SCS business segment. We acquired MXD to expand our e-fulfillment and final mile capabilities for our e-commerce business. The following table provides the preliminary purchase price allocation to the assets and the liabilities assumed as of the closing date of the MXD acquisition. (In thousands) Assets: Operating property and equipment $ 9,803 Goodwill 63,424 Customer relationships and other intangibles 23,651 Other assets, primarily accounts receivable 31,492 Deferred income taxes 12,737 141,107 Liabilities: Accrued liabilities (18,107 ) Other liabilities, primarily accounts payable (5,052 ) Net assets acquired $ 117,948 The excess of the purchase consideration over the aggregate estimated fair values of identifiable assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized reflects e-commerce growth opportunities, opportunities to cross-sell with our existing customer base and expected cost synergies of combining MXD with our business. The goodwill is not expected to be deductible for income tax purposes. Customer relationship intangible assets are expected to be amortized over 8 years . The results of operations of MXD were not material to our results of operations and therefore pro forma financial information for the acquisition is not presented. On June 15, 2018, we acquired all of the outstanding equity of Metro Truck & Tractor Leasing (Metro), a full service leasing, rental and maintenance company for a purchase price of $ 52 million . The acquisition is included in our FMS business segment. We acquired Metro to expand our presence in the Baltimore, Maryland area. The preliminary purchase accounting for this acquisition resulted in $ 0.4 million of the purchase price allocated to customer relationships and other intangible assets, $19 million allocated to tangible assets net of liabilities assumed and the remaining $ 32 million represents goodwill. The goodwill recognized reflects expected cost synergies and operational improvements in the combined companies and expected growth opportunities with Metro's current customers and prospects in the Maryland market. The goodwill is not expected to be deductible for income tax purposes. The assets, liabilities and results of operations of Metro were not material to our consolidated financial position or results of operations and therefore pro forma financial information for the acquisition is not presented. The estimated fair values of assets acquired and liabilities assumed in the acquisitions of both MXD and Metro are provisional and are based on the information that was available as of the acquisition date. We believe that we have sufficient information to provide a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, we are currently obtaining additional information which will be necessary to finalize our estimate of fair values. Therefore, the provisional measurements of estimated fair values reflected are subject to change. We expect to finalize the valuation and complete the purchase consideration allocation no later than one year from the respective acquisition dates. The primary area of the purchase price allocation that is not yet finalized relates to income and non-income taxes. On September 29, 2017, we completed the acquisition of Dallas Service Center, Inc., an independent truck repair facility, for a purchase price of approximately $8 million , net of cash acquired.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following tables disaggregate our revenue by primary geographical market and industry: Primary Geographical Markets Year ended December 31, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 4,618,012 1,333,313 1,990,485 (554,764 ) 7,387,046 Canada 301,741 — 185,655 (22,705 ) 464,691 Europe 335,474 — — — 335,474 Mexico — — 198,148 — 198,148 Singapore — — 23,856 — 23,856 Total revenue $ 5,255,227 1,333,313 2,398,144 (577,469 ) 8,409,215 Year ended December 31, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 4,130,528 1,095,645 1,569,957 (449,946 ) 6,346,184 Canada 281,668 — 166,078 (19,568 ) 428,178 Europe 321,375 — — — 321,375 Mexico — — 170,525 — 170,525 Singapore — — 30,792 — 30,792 Total revenue $ 4,733,571 1,095,645 1,937,352 (469,514 ) 7,297,054 Year ended December 31, 2016 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,952,015 1,020,543 1,302,730 (411,618 ) 5,863,670 Canada 264,759 — 139,159 (16,337 ) 387,581 Europe 339,420 — — — 339,420 Mexico — — 139,176 — 139,176 Singapore — — 28,291 — 28,291 Total revenue $ 4,556,194 1,020,543 1,609,356 (427,955 ) 6,758,138 Industry We have a diversified portfolio of customers across a full array of transportation and logistics solutions and across many industries. We believe this will help to mitigate the impact of adverse downturns in specific sectors of the economy. Our portfolio of ChoiceLease and commercial rental customers is not concentrated in any one particular industry or geographic region. We derive a significant portion of our SCS revenue from the automotive industry, mostly from manufacturers and suppliers of original equipment parts. Our SCS business segment includes revenue from the below industries: Year ended December 31, 2018 2017 2016 (In thousands) Automotive $ 947,408 783,640 724,082 Technology and healthcare 480,026 387,252 283,836 CPG and retail 766,765 535,689 452,096 Industrial and other 203,945 230,771 149,342 Total revenue $ 2,398,144 1,937,352 1,609,356 Contract Balances We record a receivable related to revenue recognized when we have an unconditional right to invoice. There were no material contract assets as of December 31, 2018 or 2017 . Trade receivables were $1.09 billion and $899 million at December 31, 2018 and 2017 , respectively. Impairment losses on receivables were not material during 2018 and 2017. Contract liabilities relate to payments received in advance of performance under the contract. Changes in contract liabilities are due to our performance under the contract. The amount of revenue recognized during 2018 that was included within deferred revenue at January 1, 2018, was $13 million .

Restructuring and Other Charges

Restructuring and Other Charges, Net	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES, NET	RESTRUCTURING AND OTHER CHARGES, NET The following table presents the restructuring and other charges, net that related to each segment in 2018, 2017, and 2016. Years ended December 31, 2018 2017 2016 (In thousands) Fleet Management Solutions $ 16,785 2,995 3,550 Dedicated Transportation Solutions — 771 22 Supply Chain Solutions 7,668 2,278 278 Central Support Services 654 15,361 1,224 Total $ 25,107 21,405 5,074 In 2018, 2017 and 2016, we executed restructuring plans to reduce our workforce in multiple locations as a result of cost containment actions. In the second quarter of 2018, we committed to a plan to shutdown our Singapore business operations and recognized employee termination costs of $4 million . We expect to incur additional restructuring charges related to exiting Singapore business operations in 2019, but we do not expect these charges to be material to our financial statements. Additionally, in 2018 , we incurred $4 million in charges attributable to workforce reductions. During 2018 , we recorded an impairment charge of $16 million related to our FMS Europe reporting unit. We also recorded restructuring credits of $4 million related to the gains on the sale of certain U.K. facilities that were closed as part of our December 2017 restructuring activities, and we recorded $4 million of professional fees related to the pursuit of a commercial claim and $2 million of acquisition transaction costs related to the acquisitions of MXD and Metro. During 2017 , we incurred charges of $11 million , related to consulting fees associated with cost-savings programs and restructuring credits of $3 million related to the gains on sales of certain UK facilities that were closed as part of prior year restructuring activities. In 2017 and 2016 , our restructuring plans resulted in charges of $13 million and $5 million in each of the respective years. All of these items were included within "Restructuring and other charges, net" in our Consolidated Statement of Earnings. The following table summarizes the activities within, and components of, restructuring liabilities for 2018 , 2017 and 2016 (in thousands): Employee Termination Costs Balance as of December 31, 2015 $ 12,333 Workforce reduction charges 5,074 Utilization (1) (10,129 ) Balance as of December 31, 2016 7,278 Workforce reduction charges 13,320 Utilization (1) (7,524 ) Balance as of December 31, 2017 13,074 Workforce reduction charges 8,366 Utilization (1) (13,845 ) Balance as of December 31, 2018 (2) $ 7,595 _________________ Note: The restructuring liabilities shown above are included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets. (1) Principally represents cash payments. (2) The majority of the balance remaining for employee termination costs is expected to be paid by the end of 2019.

Receivables, Net

Receivables, Net	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
RECEIVABLES, NET	RECEIVABLES, NET December 31, 2018 2017 (In thousands) Trade $ 1,087,219 898,876 Direct financing leases 83,962 81,996 Other, primarily warranty and insurance 65,427 43,883 1,236,608 1,024,755 Allowance (17,182 ) (13,847 ) Total $ 1,219,426 1,010,908

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	PREPAID EXPENSES AND OTHER CURRENT ASSETS December 31, 2018 2017 (In thousands) Restricted cash $ — 4,674 Prepaid vehicle licenses 69,434 62,772 Prepaid operating taxes 16,461 14,320 Prepaid sales commission 23,842 13,599 Prepaid insurance 16,423 15,688 Start-up costs 9,463 8,001 Prepaid maintenance 10,903 6,171 Prepaid vehicles 12,814 947 Other 42,286 33,922 Total $ 201,626 160,094

Revenue Earning Equipment, Net

Revenue Earning Equipment, Net	12 Months Ended
	Dec. 31, 2018
Revenue Earning Equipment [Abstract]
REVENUE EARNING EQUIPMENT, NET	REVENUE EARNING EQUIPMENT, NET Estimated Useful Lives December 31, 2018 December 31, 2017 Cost Accumulated Depreciation Net (1) Cost Accumulated Depreciation Net (1) (In years) (In thousands) Held for use: ChoiceLease 3 — 12 $ 10,955,447 (3,694,104 ) 7,261,343 10,002,981 (3,367,431 ) 6,635,550 Commercial rental 4.5 — 12 3,152,908 (1,047,346 ) 2,105,562 2,616,706 (1,001,965 ) 1,614,741 Held for sale 467,093 (336,028 ) 131,065 403,229 (298,258 ) 104,971 Total $ 14,575,448 (5,077,478 ) 9,497,970 13,022,916 (4,667,654 ) 8,355,262 _______________ (1) Revenue earning equipment, net includes vehicles under capital leases of $18 million , less accumulated depreciation of $10 million , at December 31, 2018 and $29 million , less accumulated depreciation of $14 million , at December 31, 2017 . Depreciation expense was $1.29 billion , $1.16 billion and $1.10 billion in 2018 , 2017 and 2016 , respectively. In 2018 and 2017 , based on current and expected market conditions, we accelerated depreciation on certain classes of vehicles expected to be made available for sale through June 2020 and 2019, respectively. We recorded accelerated depreciation of $39 million in 2018 and $30 million in 2017 . Revenue earning equipment held for sale is stated at the lower of net book value or fair value less costs to sell. Losses on vehicles held for sale for which carrying values exceeded fair value are recognized at the time they arrive at our used truck centers and are presented within "Used vehicle sales, net" in the Consolidated Statements of Earnings. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. For a certain population of revenue earning equipment held for sale, fair value was determined based upon recent market prices obtained from our own sales experience for sales of each class of similar assets and vehicle condition. Expected declines in market prices were also considered when valuing the vehicles held for sale. These vehicles held for sale were classified within Level 3 of the fair value hierarchy. During 2018 , 2017 , and 2016 , we recognized losses to reflect changes in fair value of $54 million , $58 million and $67 million , respectively. The following table presents our assets that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Total Losses (2) December 31, Year ended December 31, 2018 2017 2018 2017 Assets held for sale: (In thousands) (In thousands) Revenue earning equipment: (1) Trucks $ 44,325 33,208 $ 40,220 30,812 Tractors 35,397 27,976 9,030 21,261 Trailers 1,507 2,100 4,478 5,992 Total assets at fair value $ 81,229 63,284 $ 53,728 58,065 ______________ (1) Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where net book values exceeded fair values and fair value adjustments were recorded. The net book value of assets held for sale not exceeding fair value was $50 million and $42 million as of December 31, 2018 and 2017 , respectively. (2) Total losses represent fair value adjustments for all vehicles reclassified to held for sale throughout the period for which fair value was less than net book value. The components of used vehicle sales, net were as follows: Twelve months ended December 31, 2018 2017 2016 (In thousands) Gains on vehicle sales, net $ (31,989 ) (40,824 ) (68,387 ) Losses from fair value adjustments 53,728 58,065 67,415 Used vehicle sales, net $ 21,739 17,241 (972 )

Operating Property and Equipmen

Operating Property and Equipment, Net	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
OPERATING PROPERTY AND EQUIPMENT, NET	OPERATING PROPERTY AND EQUIPMENT, NET Estimated Useful Lives December 31, 2018 2017 (In years) (In thousands) Land — $ 235,272 217,885 Buildings and improvements 10 — 40 873,728 822,931 Machinery and equipment 3 — 10 845,460 797,084 Other 3 — 10 125,377 131,181 2,079,837 1,969,081 Accumulated depreciation (1,236,024 ) (1,192,377 ) Total $ 843,813 776,704 Depreciation expense was $101 million , $94 million and $88 million in 2018 , 2017 and 2016 , respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The carrying amount of goodwill attributable to each reportable business segment with changes therein was as follows: Fleet Management Solutions Dedicated Transportation Solutions Supply Chain Solutions Total (In thousands) Balance at January 1, 2017 Goodwill $ 228,832 40,808 146,353 415,993 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 218,510 40,808 127,454 386,772 Acquisitions (1) 6,506 — — 6,506 Foreign currency translation adjustment 1,838 — 388 2,226 Balance at December 31, 2017 Goodwill 237,176 40,808 146,741 424,725 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 226,854 40,808 127,842 395,504 Acquisitions (1) 32,266 — 63,424 95,690 Foreign currency translation adjustment and other (1 ) — (474 ) (475 ) Balance at December 31, 2018 Goodwill 269,441 40,808 209,691 519,940 Accumulated impairment losses (25,835 ) — (18,899 ) (44,734 ) $ 243,606 40,808 190,792 475,206 ——————————— (1) See Note 3 , " Acquisitions ," in the Notes to Consolidated Financial Statements for additional information. We assess goodwill for impairment on October 1st of each year or more often if deemed necessary. On October 1, 2017, we completed our annual goodwill impairment test and determined there was no impairment. However, based on market conditions impacting our FMS Europe reporting unit's financial performance in the first quarter of 2018, we performed an interim impairment test as of March 31, 2018. Based on our analysis, we determined that all goodwill associated with our FMS Europe reporting unit was impaired and recorded an impairment charge of $ 16 million . The impairment charge was recorded within “Restructuring and other charges, net” in our Consolidated Statements of Earnings. We performed quantitative assessments on all remaining reporting units as of October 1, 2018 and determined there was no impairment as of the assessment date.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET December 31, 2018 2017 (In thousands) Indefinite lived intangible assets — Trade name $ 8,731 8,731 Finite lived intangible assets: Customer relationship intangibles 115,574 91,523 Other intangibles, primarily trade name 2,367 2,367 Accumulated amortization (65,048 ) (57,420 ) 52,893 36,470 Foreign currency translation adjustment (2,549 ) (2,271 ) Total $ 59,075 42,930 The Ryder trade name has been identified as having an indefinite useful life. Customer relationship intangibles are being amortized on a straight-line basis over their estimated useful lives, generally 7 - 19 years. We recognized amortization expense associated with finite lived intangible assets of approximately $8 million in 2018 and $6 million in both 2017 and 2016 . The future amortization expense for each of the five succeeding years related to all intangible assets that are currently reported in the Consolidated Balance Sheets is estimated to range from $6 - $8 million per year for 2019 - 2023 .

Direct Financing Leases and Oth

Direct Financing Leases and Other Assets	12 Months Ended
	Dec. 31, 2018
Direct Financing Leases And Other Assets [Abstract]
DIRECT FINANCING LEASES AND OTHER ASSETS	DIRECT FINANCING LEASES AND OTHER ASSETS December 31, 2018 2017 (In thousands) Direct financing leases, net $ 375,707 364,847 Investments held in rabbi trusts 59,403 61,425 Contract incentives 24,820 14,857 Insurance receivables 17,547 15,545 Start-up costs 13,156 13,750 Prepaid pension asset 51,133 58,708 Lease origination costs 9,769 9,387 Deferred tax asset 14,153 6,736 Noncurrent income tax receivable 11,067 — Other 29,874 25,451 Total $ 606,629 570,706 Investments held in Rabbi Trusts are assets measured at fair value on a recurring basis, all of which are considered Level 1 of the fair value hierarchy. The following table presents the asset classes at December 31, 2018 and 2017 : December 31, 2018 2017 (In thousands) Cash and cash equivalents $ 15,578 4,956 U.S. equity mutual funds 29,298 39,958 Foreign equity mutual funds 6,678 8,001 Fixed income mutual funds 7,849 8,510 Total Investments held in Rabbi Trusts $ 59,403 61,425

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	ACCRUED EXPENSES AND OTHER LIABILITIES December 31, 2018 December 31, 2017 Accrued Expenses Non-Current Liabilities Total Accrued Expenses Non-Current Liabilities Total (In thousands) Salaries and wages $ 149,629 — 149,629 135,930 — 135,930 Deferred compensation 4,524 55,279 59,803 4,269 58,411 62,680 Pension benefits 3,754 456,979 460,733 3,863 412,417 416,280 Other postretirement benefits 1,387 18,097 19,484 1,481 19,760 21,241 Other employee benefits 28,370 — 28,370 28,636 3,279 31,915 Insurance obligations (1) 139,314 247,552 386,866 130,848 242,473 373,321 Operating taxes 100,399 — 100,399 95,848 — 95,848 Income taxes 3,491 18,477 21,968 8,550 23,888 32,438 Interest 39,522 — 39,522 30,003 — 30,003 Deposits, mainly from customers 80,401 3,390 83,791 69,903 3,638 73,541 Deferred revenue 15,810 — 15,810 14,004 — 14,004 Restructuring liabilities (2) 7,595 — 7,595 13,074 — 13,074 Other 56,297 50,172 106,469 53,194 48,776 101,970 Total $ 630,493 849,946 1,480,439 589,603 812,642 1,402,245 _________________ (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) The decrease in restructuring liabilities from December 31, 2017, principally represents a reduction in the accrual for employee termination costs. The majority of the balance remaining in restructuring liabilities is expected to be paid by the end of 2019. We retain a portion of the accident risk under vehicle liability and workers’ compensation insurance programs. Self-insurance accruals are primarily based on actuarially estimated, undiscounted cost of claims, and include claims incurred but not reported. Such liabilities are based on estimates. Historical loss development factors are utilized to project the future development of incurred losses, and these amounts are adjusted based upon actual claim experience and settlements. While we believe the amounts are adequate, there can be no assurance that changes to our estimates may not occur due to limitations inherent in the estimation process. During 2018 and 2016 , we recognized charges within earnings from continuing operations of $1 million and $9 million , respectively, from the unfavorable development of estimated prior years claims where costs exceeded self-insured loss reserves for the reasons noted above. During 2017 , we recognized a benefit within earnings from continuing operations of $9 million from the favorable development of estimated prior years' self-insured loss reserves for the reasons noted above.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of earnings from continuing operations before income taxes and the provision for (benefit from) income taxes from continuing operations were as follows: Years ended December 31, 2018 2017 2016 (In thousands) Earnings from continuing operations before income taxes: United States $ 356,644 254,355 344,614 Foreign 17,217 60,190 62,642 Total $ 373,861 314,545 407,256 Current tax (benefit) expense from continuing operations: Federal (1) $ (23,333 ) 6,752 2,731 State 6,862 9,360 7,713 Foreign 10,123 6,442 6,411 (6,348 ) 22,554 16,855 Deferred tax expense (benefit) from continuing operations: Federal 110,408 (510,172 ) 106,718 State 313 8,080 16,299 Foreign (6,119 ) 1,794 2,152 104,602 (500,298 ) 125,169 Provision for (benefit from) income taxes from continuing operations $ 98,254 (477,744 ) 142,024 _______________ (1) The 2018 current federal tax benefit includes the anticipated $22 million alternative minimum tax refunds (net of sequestration charge) generated by the 2017 Tax Cuts and Jobs Act. A reconciliation of the federal statutory tax rate with the effective tax rate from continuing operations follows: Years ended December 31, 2018 2017 2016 (Percentage of pre-tax earnings) Federal statutory tax rate 21.0 35.0 35.0 Impact of one-time deemed repatriation 6.4 10.7 — Impact on deferred taxes for changes in tax rates (3.5 ) (196.4 ) (0.1 ) Additional deferred tax adjustments (1.6 ) — — State income taxes, net of federal income tax benefit 3.8 3.0 4.0 Foreign rates varying from federal statutory tax rate 0.1 (4.0 ) (3.3 ) Tax contingencies (1.1 ) (0.3 ) (0.2 ) Other, net 1.2 0.1 (0.5 ) Effective tax rate 26.3 (151.9 ) 34.9 Tax Reform Impact On December 22, 2017, President Trump signed into law U.S. federal tax legislation referred herein as the 2017 Tax Cuts and Jobs Act. The 2017 Tax Cuts and Jobs Act made broad and complex changes to the U.S. tax code for tax years beginning after December 31, 2017, including the reduction in the federal corporate income tax rate from 35% to 21%, the repeal of the alternative minimum tax (AMT), limitations on the deductibility of certain expenses and the creation of new taxes on certain foreign global intangible low-taxed income (GILTI). The 2017 Tax Cuts and Jobs Act also required companies to pay a one-time transition tax (Transition Tax) in the last tax year beginning before January 1, 2018, on unremitted earnings of certain foreign subsidiaries that had not previously been subject to U.S. income tax. The changes from the 2017 Tax Cuts and Jobs Act have had a significant impact on our earnings. Due to the complexities of implementing the provisions of the 2017 Tax Cuts and Jobs Act, the staff of the U.S. Securities and Exchange Commission issued Staff Accounting Bulletin 118 (SAB 118) which provides guidance on accounting for tax effects of the 2017 Tax Cuts and Jobs Act and permits a measurement period not to exceed one year from the enactment date for companies to complete the required analyses and accounting. As permitted under SAB 118, we recorded a $619 million benefit for the re-measurement of our net deferred tax liability and a $33 million expense for the Transition Tax as reasonable provisional estimates in our 2017 financial statements. During the subsequent one year measurement period, we completed our analyses and recorded an additional $10 million benefit on the deferred tax remeasurement and an additional $24 million charge for the Transition Tax. Additionally, we have completed our assessment of GILTI and have established a policy to account for this potential income inclusion using the period cost method. In addition to repealing the AMT, the 2017 Tax Cuts and Jobs Act allows taxpayers to claim refunds for their AMT credit carryforwards. In the first quarter of 2018, in accordance with the Balanced Budget and Emergency Deficit Control Act of 1985, the Internal Revenue Service (IRS) announced that the refundable AMT credits would be subject to sequestration. Accordingly, we recorded a $1 million charge to account for the 6.2% sequestration rate on our $23 million of refundable AMT credits. On January 14, 2019, the IRS reversed its position and announced that refundable AMT credits would not be subject to sequestration. We will therefore reverse the $1 million sequestration charge in our first quarter 2019 earnings. Deferred Income Taxes The components of the net deferred income tax liability were as follows: December 31, 2018 2017 (In thousands) Deferred income tax assets: Self-insurance accruals $ 82,042 75,198 Net operating loss carryforwards 414,143 171,053 Alternative minimum taxes (1) — 22,552 Accrued compensation and benefits 56,066 63,536 Federal benefit on state tax positions 11,027 11,950 Pension benefits 91,890 82,547 Miscellaneous other accruals 20,760 19,608 675,928 446,444 Valuation allowance (16,186 ) (18,667 ) 659,742 427,777 Deferred income tax liabilities: Property and equipment basis difference (1,936,372 ) (1,614,963 ) Other (13,940 ) (16,857 ) (1,950,312 ) (1,631,820 ) Net deferred income tax liability (2) $ (1,290,570 ) (1,204,043 ) ______________ (1) The current and noncurrent portions of the AMT credit refunds were reclassified to "Prepaid expenses and other current assets" and "Direct financing leases and other assets" in 2018. (2) Deferred tax assets of $14 million and $7 million have been included in "Direct financing leases and other assets" at December 31, 2018 and 2017 . As of December 31, 2018 , we have undistributed earnings of foreign subsidiaries of $784 million , the majority of which were reinvested into non-cash property, plant and equipment. We have historically reinvested such earnings overseas indefinitely and continue to reinvest future foreign earnings overseas indefinitely. With respect to the $784 million of undistributed earnings at December 31, 2018, $635 million was included in the Transition Tax. The determination of the amount of any additional unrecognized deferred tax liability is not practicable because of the complexities associated with the hypothetical calculations used in evaluating whether we will maintain the indefinite reinvestment assertion. At December 31, 2018 , we had U.S. federal tax effected net operating loss carryforwards, before unrecognized tax benefits, of $323 million , of which $140 million is expected to expire beginning 2033; the remaining $183 million has an indefinite carryforward period. Various U.S. subsidiaries had state tax effected net operating loss carryforwards, before unrecognized tax benefits and valuation allowances, of $123 million that will begin to expire as follows: approximately $6 million in 2019, approximately $7 million in 2020, and approximately $110 million in 2021 and thereafter. To the extent that the Company does not generate sufficient state taxable income within the statutory carryforward periods to utilize the loss carryforwards in these states, the loss carryforwards will expire unused. Of the total tax effected federal and state net operating losses, $13 million and $3 million , respectively, were acquired as part of the MXD acquisition on April 2, 2018. These acquired net operating losses are subject to the provisions of Internal Revenue Code Section 382 which addresses the limitations on tax attributes arising from changes in stock ownership. We also had foreign tax effected net operating losses of $13 million that are available to reduce future income tax payments in several countries, subject to varying expiration rules. Due to the uncertainty of achieving sufficient sources of taxable income in various state and foreign jurisdictions and the near-term expiration of certain net operating loss carryforwards, the Company has recorded valuation allowances of $16 million against its deferred tax assets. During 2018, we determined that certain deferred tax assets had been undervalued in prior periods. As the amounts were not material to our consolidated financial statements in any individual period, and the cumulative amount is not material to 2018 results, we recognized a one-time $6 million benefit in our provision for income taxes related to the correction of this error. Uncertain Tax Positions The following is a summary of tax years that are no longer subject to examination: Federal — audits of our U.S. federal income tax returns are closed through fiscal year 2008. State — for the majority of states, tax returns are closed through fiscal year 2011 with the exception of states with net operating loss carryforwards that are generally closed through 1997. Foreign — we are no longer subject to foreign tax examinations by tax authorities for tax years through 2009 in Canada, 2012 in Mexico and 2016 in the U.K., which are our major foreign tax jurisdictions, and 2012 in Brazil for discontinued operations. The following table summarizes the activity related to unrecognized tax benefits (excluding the federal benefit received from state positions): December 31, 2018 2017 2016 (In thousands) Balance at January 1 $ 62,288 61,649 60,740 Additions based on tax positions related to the current year 3,885 3,971 3,855 Reductions due to lapse of applicable statutes of limitation (7,354 ) (3,332 ) (2,946 ) Gross balance at December 31 58,819 62,288 61,649 Interest and penalties 4,594 5,860 5,219 Balance at December 31 $ 63,413 68,148 66,868 Of the total unrecognized tax benefits, $52 million (net of the federal benefit on state issues) represents the amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate in future periods. The total includes $4 million and $5 million of interest and penalties, respectively, at December 31, 2018 and 2017 , net of the federal benefit on state interest. Unrecognized tax benefits related to federal, state and foreign tax positions may decrease by $10 million by December 31, 2019 , if audits are completed or tax years close during 2019 . During 2018, we determined that reserves for certain uncertain tax positions should have been reversed in prior periods when the statutes of limitations expired. As the amounts were not material to our consolidated financial statements in any individual period, and the cumulative amount is not material to 2018 results, we recognized a one-time $4 million benefit in our provision for income taxes related to the correction of this error.

Leases

Leases	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
LEASES	LEASES Leases as Lessor We lease revenue earning equipment to customers for periods ranging from three to seven years for trucks and tractors and up to ten years for trailers. We also rent revenue earning equipment to customers on a short-term basis, one day up to one year in length. From time to time, we may also lease facilities to third parties. The majority of our leases are classified as operating leases. However, some of our revenue earning equipment leases are classified as direct financing leases and, to a lesser extent, sales-type leases. The net investment in direct financing and sales-type leases consisted of: December 31, 2018 2017 (In thousands) Total minimum lease payments receivable $ 715,165 713,857 Less: Executory costs (206,181 ) (216,754 ) Minimum lease payments receivable 508,984 497,103 Less: Allowance for uncollectibles (475 ) (327 ) Net minimum lease payments receivable 508,509 496,776 Unguaranteed residuals 41,044 41,937 Less: Unearned income (89,884 ) (91,870 ) Net investment in direct financing and sales-type leases 459,669 446,843 Current portion (83,962 ) (81,996 ) Non-current portion $ 375,707 364,847 Our direct financing lease customers operate in a wide variety of industries, and we have no significant customer concentrations in any one industry. We assess credit risk for all of our customers including those who lease equipment under direct financing leases. Credit risk is assessed using an internally developed model, which incorporates credit scores from third party providers and our own custom risk ratings and is updated on a monthly basis. The external credit scores are developed based on the customer’s historical payment patterns and an overall assessment of the likelihood of delinquent payments. Our internal ratings are weighted based on the industry that the customer operates in, company size, years in business and other credit-related indicators (i.e., profitability, cash flow, liquidity, tangible net worth, etc.). Any one of the following factors may result in a customer being classified as high risk: i) history of late payments; ii) open lawsuits, liens or judgments; iii) in business less than three years ; and iv) operates in an industry with low barriers to entry. For those customers who are designated as high risk, we typically require deposits to be paid in advance in order to mitigate our credit risk. Additionally, our receivables are collateralized by the vehicle’s fair value, which further mitigates our credit risk. The following table presents the credit risk profile by creditworthiness category of our direct financing lease receivables at December 31, 2018 and 2017 : December 31, 2018 2017 (In thousands) Very low risk to low risk $ 194,383 201,434 Moderate 220,560 198,464 Moderately high to high risk 94,041 97,205 $ 508,984 497,103 As of December 31, 2018 and 2017 , the amount of direct financing lease receivables that were past due was not significant and there were no impaired receivables. Accordingly, there was no material risk of default with respect to these receivables. Leases as Lessee We lease facilities and office equipment. None of our leasing arrangements contain restrictive financial covenants. During 2018 , 2017 and 2016 , rent expense (including rent of facilities and contingent rentals) was $141 million , $130 million and $127 million , respectively. Lease Payments Future minimum payments for leases in effect at December 31, 2018 were as follows: As Lessor (1) As Lessee Operating Leases Direct Financing and Sales-Type Leases Operating Leases (In thousands) 2019 $ 1,192,786 115,075 94,697 2020 919,089 117,717 66,420 2021 673,875 96,879 43,985 2022 438,477 70,520 29,797 2023 262,677 44,437 13,701 Thereafter 231,963 64,356 29,216 Total $ 3,718,867 508,984 277,816 ____________________ (1) Amounts do not include contingent rentals, which may be received under certain leases on the basis of miles or changes in the Consumer Price Index. Contingent rentals from operating leases included in revenue were $ 377 million in 2018 , $ 357 million in 2017 and $342 million in 2016 . Contingent rentals from direct financing leases included in revenue were $18 million in 2018 , $15 million in 2017 and $12 million in 2016 . The amounts in the previous table related to the lease of revenue earning equipment are based upon the general assumption that revenue earning equipment will remain on lease for the length of time specified by the respective lease agreements. The future minimum payments presented above related to the lease of revenue earning equipment are not a projection of future lease revenue or expense, and no effect has been given to renewals, new business, cancellations, contingent rentals or future rate changes.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	DEBT Weighted-Average Interest Rate December 31, December 31, 2018 2017 Maturities 2018 2017 (In thousands) Short-term debt and current portion of long-term debt: Short-term debt 2.69 % 1.79 % $ 81,522 35,509 Current portion of long-term debt, including capital leases 848,430 790,560 Total short-term debt and current portion of long-term debt 929,952 826,069 Total long-term debt: U.S. commercial paper (1) 2.78 % 1.56 % 2023 454,397 570,218 Canadian commercial paper (1) 2.28 % — % 2023 123,491 — Trade receivables program 3.15 % — % 2019 200,000 — Global revolving credit facility 2.25 % 2.80 % 2023 12,581 17,328 Unsecured U.S. notes – Medium-term notes (1) (2) 3.22 % 2.73 % 2019-2025 4,853,496 4,006,899 Unsecured U.S. obligations, principally bank term loans 3.50 % 2.79 % 2019 50,000 50,000 Unsecured foreign obligations 1.61 % 1.50 % 2020-2021 216,719 230,380 Asset backed U.S. obligations (3) 2.37 % 1.85 % 2019-2025 627,707 491,899 Capital lease obligations 4.20 % 3.53 % 2019-2025 21,773 20,871 Total long-term debt 6,560,164 5,387,595 Debt issuance costs (18,088 ) (13,453 ) 6,542,076 5,374,142 Current portion of long-term debt, including capital leases (848,430 ) (790,560 ) Long-term debt 5,693,646 4,583,582 Total debt $ 6,623,598 5,409,651 _________________ (1) Amounts are net of unamortized original issue discounts of $7 million and $6 million at December 31, 2018 and 2017 , respectively. (2) Amounts are inclusive of fair market value adjustments on notes subject to hedging of $10 million and $7 million at December 31, 2018 and 2017 , respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $725 million and $825 million at December 31, 2018 and 2017 , respectively. Refer to Note 17 , " Derivatives ," for additional information. (3) Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment. Maturities of total debt are as follows: Capital Leases Debt (In thousands) 2019 $ 7,364 922,588 2020 4,729 1,290,370 2021 4,040 1,058,104 2022 2,732 717,413 2023 1,213 2,334,059 Thereafter 5,162 297,379 Total 25,240 6,619,913 Imputed interest (3,467 ) Present value of minimum capitalized lease payments 21,773 Current portion (7,364 ) Long-term capitalized lease obligation $ 14,409 Debt Facilities We maintain a $1.4 billion global revolving credit facility with a syndicate of twelve lending institutions led by Bank of America N.A., MUFG Bank, Ltd., BNP Paribas, Mizuho Bank, Ltd., Royal Bank of Canada, Lloyds Bank Plc, U.S. Bank N.A. and Wells Fargo Bank, N.A. The facility matures in September 2023. The agreement provides for annual facility fees which range from 7.5 basis points to 20 basis points based on Ryder’s long-term credit ratings. The annual facility fee is currently 10 basis points, which applies to the total facility size of $1.4 billion . The credit facility is used primarily to finance working capital but can also be used to issue up to $75 million in letters of credit (there were no letters of credit outstanding against the facility at December 31, 2018 ). At our option, the interest rate on borrowings under the credit facility is based on LIBOR, prime, federal funds or local equivalent rates. The credit facility contains no provisions limiting its availability in the event of a material adverse change to Ryder’s business operations; however, the credit facility does contain standard representations and warranties, events of default, cross-default provisions and certain affirmative and negative covenants. In order to maintain availability of funding, we must maintain a ratio of debt to consolidated net worth of less than or equal to 300% . Net worth, as defined in the credit facility, represents shareholders' equity excluding any accumulated other comprehensive income or loss associated with our pension and other postretirement plans. The ratio at December 31, 2018 , was 184% . At December 31, 2018 , there was $733 million available under the credit facility. Our global revolving credit facility enables us to refinance short-term obligations on a long-term basis. Short-term commercial paper obligations not required for working capital needs are classified as long-term as we have both the intent and ability to refinance on a long-term basis. In addition, we have the intent and ability to refinance the current portion of long-term debt on a long-term basis. At December 31, 2018 , we classified $578 million of short-term commercial paper, $200 million of trade receivables borrowings, $250 million of the current portion of long-term debt and $50 million of short-term debt as long-term debt. At December 31, 2017 , we classified $570 million of short-term commercial paper and $16 million of current portion of long-term debt as long-term debt. In 2018 , we issued $1.5 billion of unsecured medium-term notes maturing in years 2021 through 2023. The proceeds from these notes were used to pay off maturing debt and for general corporate purposes. If these notes are downgraded below investment grade following, or as a result of, a change in control, the note holders can require us to repurchase all or a portion of the notes at a purchase price equal to 101% of principal value plus accrued and unpaid interest. In 2018 , we received $225 million from financing transactions backed by a portion of our revenue earning equipment. The proceeds from these transactions were used for general corporate purposes. We have provided end of term guarantees for the residual value of the revenue earning equipment in these transactions. The transaction proceeds, along with the end of term residual value guarantees, have been included within "asset-backed U.S. obligations" in the preceding table. We have a trade receivables purchase and sale program, pursuant to which we sell certain of our domestic trade accounts receivable to a bankruptcy remote, consolidated subsidiary of Ryder, that in turn sells, on a revolving basis, an ownership interest in certain of these accounts receivable to a committed purchaser. The subsidiary is considered a VIE and is consolidated based on our control of the entity’s activities. We use this program to provide additional liquidity to fund our operations, particularly when it is cost effective to do so. The costs under the program may vary based on changes in interest rates. The available proceeds that may be received under the program are limited to $225 million . In June 2018 , we renewed the trade receivables purchase and sale program. If no event occurs which causes early termination, the 364-day program will expire on June 12, 2019 . The program contains provisions restricting its availability in the event of a material adverse change to our business operations or the collectibility of the collateralized receivables. Sales of receivables under this program are accounted for as secured borrowings based on our continuing involvement in the transferred assets. At December 31, 2018 , $200 million was outstanding under the program. No amounts were outstanding under the program at December 31, 2017 . The fair value of total debt (excluding capital lease, asset backed U.S. obligations and debt issuance costs) was $5.97 billion at December 31, 2018 , and $4.95 billion at December 31, 2017 . For publicly-traded debt, estimates of fair value were based on market prices. For other debt, fair value is estimated based on a model-driven approach using rates currently available to us for debt with similar terms and remaining maturities. The fair value measurements of our publicly-traded debt and our other debt were classified within Level 2 of the fair value hierarchy. The carrying amounts reported in the Consolidated Balance Sheets for "Cash and cash equivalents," "Receivables, net" and "Accounts payable" approximate fair value because of the immediate or short-term maturities of these financial instruments.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES From time to time, we enter into interest rate derivatives to manage our fixed and variable interest rate exposure and to better match the repricing of debt instruments to that of our portfolio of assets. We assess the risk that changes in interest rates will have either on the fair value of debt obligations or on the amount of future interest payments by monitoring changes in interest rate exposures and by evaluating hedging opportunities. We regularly monitor interest rate risk attributable to both our outstanding or forecasted debt obligations as well as our offsetting hedge positions. This risk management process involves the use of analytical techniques, including cash flow sensitivity analyses, to estimate the expected impact of changes in interest rates on our future cash flows. As of December 31, 2018 , we had interest rate swaps outstanding that are designated as fair value hedges for certain debt obligations, with a total notional value of $725 million and maturities through 2022 . Interest rate swaps are measured at fair value on a recurring basis using Level 2 fair value inputs. The fair value of these interest rate swaps was a liability of $10 million and $7 million as of December 31, 2018 and 2017 , respectively. The amounts are presented in "Accrued expenses and other current liabilities" and "Other non-current liabilities" in our Consolidated Balance Sheets. Changes in the fair value of our interest rate swaps were offset by changes in the fair value of the hedged debt instrument. Accordingly, there was no ineffectiveness related to the interest rate swaps. As of December 31, 2018, we had an interest rate swap outstanding that was designated as a cash flow hedge for a certain debt obligation, with a total notional value of $ 15 million and maturity through 2021 . The interest rate swap is measured at fair value on a recurring basis using Level 2 fair value inputs. The fair value of this interest rate swap was not material as of December 31, 2018. The amounts are presented in "Other non-current liabilities" in our Consolidated Balance Sheets. The effective portion of the change in the fair value of the hedging instrument is reported in other comprehensive income. The amounts accumulated in other comprehensive income are reclassified to earnings when the related interest payments affect earnings. There was no ineffectiveness related to the interest rate swap.

Guarantees

Guarantees	12 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
GUARANTEES	GUARANTEES We have executed various agreements with third parties that contain standard indemnifications that may require us to indemnify a third party against losses arising from a variety of matters such as lease obligations, financing agreements, environmental matters, and agreements to sell business assets. In each of these instances, payment by Ryder is contingent on the other party bringing about a claim under the procedures outlined in the specific agreement. Normally, these procedures allow us to dispute the other party’s claim. Additionally, our obligations under these agreements may be limited in terms of the amount and/or timing of any claim. We have entered into individual indemnification agreements with each of our independent directors, through which we will indemnify such director acting in good faith against any and all losses, expenses and liabilities arising out of such director’s service as a director of Ryder. The maximum amount of potential future payments under these agreements is generally unlimited. We cannot predict the maximum potential amount of future payments under certain of these agreements, including the indemnification agreements, due to the contingent nature of the potential obligations and the distinctive provisions that are involved in each individual agreement. Historically, no such payments made by us have had a material adverse effect on our business. We believe that if a loss were incurred in any of these matters, the loss would not have a material adverse impact on our consolidated results of operations or financial position. At December 31, 2018 and 2017 , we had letters of credit and surety bonds outstanding, which primarily guarantee various insurance activities as noted in the following table: December 31, 2018 2017 (In thousands) Letters of credit $ 253,259 238,610 Surety bonds 121,757 111,007

Share Repurchase Programs

Share Repurchase Programs	12 Months Ended
	Dec. 31, 2018
Share Repurchase Programs [Abstract]
SHARE REPURCHASE PROGRAMS	SHARE REPURCHASE PROGRAMS In December 2017 , our Board of Directors authorized a share repurchase program intended to mitigate the dilutive impact of shares issued under our employee stock plans (the program). Under the program, management is authorized to repurchase up to 1.5 million shares of common stock, the sum of which will not exceed the number of shares issued to employees under the Company’s employee stock plans from December 31, 2017 to December 13, 2019. Share repurchases of common stock are made periodically in open-market transactions and are subject to market conditions, legal requirements and other factors. Management may establish prearranged written plans for the Company under Rule 10b5-1 of the Securities Exchange Act of 1934 as part of the program, which allow for share repurchases during Ryder’s quarterly blackout periods as set forth in the trading plan. During 2018 , 2017 and 2016 , we repurchased 0.4 million , 1.1 million and 0.5 million shares for $ 31 million , $78 million and $37 million , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income presents a measure of all changes in shareholders’ equity except for changes resulting from transactions with shareholders in their capacity as shareholders. The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service (Cost)/Credit (1) Accumulated Other Comprehensive Loss (In thousands) January 1, 2016 $ (136,020 ) (576,993 ) 278 (712,735 ) Amortization — 18,876 165 19,041 Other current period change (70,590 ) (62,175 ) (7,573 ) (140,338 ) December 31, 2016 (206,610 ) (620,292 ) (7,130 ) (834,032 ) Amortization — 20,267 219 20,486 Other current period change 66,172 39,872 1 106,045 December 31, 2017 (140,438 ) (560,153 ) (6,910 ) (707,501 ) Amortization — 20,773 304 21,077 Other current period change (58,960 ) (62,017 ) (3,351 ) (124,328 ) Adoption of new accounting standard (2) — (98,987 ) (1,580 ) (100,567 ) December 31, 2018 $ (199,398 ) (700,384 ) (11,537 ) (911,319 ) _______________________ (1) These amounts are included in the computation of net periodic pension cost and pension settlement charge. See Note 23 , " Employee Benefit Plans ," for further information. (2) Refer to Note 2, "Recent Accounting Pronouncements" for additional information. The loss from currency translation adjustments in 2018 of $59 million was primarily due to the weakening of the British Pound and Canadian Dollar against the U.S. Dollar. The gain from currency translation adjustments of $66 million in 2017 was primarily due to the strengthening of the British Pound and Canadian Dollar against the U.S. Dollar. The loss from currency translations in 2016 of $71 million was primarily due to the weakening of the British Pound against the U.S. Dollar, partially offset by the strengthening of the Canadian Dollar against the U.S. Dollar.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Years ended December 31, 2018 2017 2016 (In thousands, except per share amounts) Earnings per share — Basic: Earnings from continuing operations $ 275,607 792,289 265,232 Less: Distributed and undistributed earnings allocated to unvested stock (998 ) (2,853 ) (842 ) Earnings from continuing operations available to common shareholders — Basic $ 274,609 789,436 264,390 Weighted average common shares outstanding— Basic 52,390 52,613 53,015 Earnings from continuing operations per common share — Basic $ 5.24 15.00 4.99 Earnings per share — Diluted: Earnings from continuing operations $ 275,607 792,289 265,232 Less: Distributed and undistributed earnings allocated to unvested stock (995 ) (2,835 ) (838 ) Earnings from continuing operations available to common shareholders — Diluted $ 274,612 789,454 264,394 Weighted average common shares outstanding— Basic 52,390 52,613 53,015 Effect of dilutive equity awards 306 375 346 Weighted average common shares outstanding— Diluted 52,696 52,988 53,361 Earnings from continuing operations per common share — Diluted $ 5.21 14.90 4.95 Anti-dilutive equity awards and market-based restrictive stock rights not included above 1,330 881 716

Share-Based Compensation Plans

Share-Based Compensation Plans	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION PLANS	SHARE-BASED COMPENSATION PLANS The following table provides information on share-based compensation expense and related income tax benefits recognized in 2018 , 2017 and 2016 : Years ended December 31, 2018 2017 2016 (In thousands) Stock option and stock purchase plans $ 7,703 7,869 7,244 Unvested stock awards 17,249 11,098 11,420 Share-based compensation expense 24,952 18,967 18,664 Income tax benefit (4,615 ) (6,628 ) (6,644 ) Share-based compensation expense, net of tax $ 20,337 12,339 12,020 Total unrecognized pre-tax compensation expense related to share-based compensation arrangements at December 31, 2018 was $28 million and is expected to be recognized over a weighted-average period of approximately 1.8 years. The total fair value of equity awards vested during 2018 , 2017 and 2016 were $18 million , $22 million and $17 million , respectively. Share-Based Incentive Awards Share-based incentive awards are provided to employees under the terms of various share-based compensation plans (collectively, the “Plans”). The Plans are administered by the Compensation Committee of the Board of Directors. Awards under the Plans principally include at-the-money stock options, unvested stock and cash awards. Unvested stock awards include grants of market-based, performance-based, and time-vested restricted stock rights. Under the terms of our Plans, dividends on unvested stock are not paid unless the award vests. Upon vesting, the amount of the dividends paid is equal to the aggregate dividends declared on common shares during the period from the date of grant of the award until the date the shares underlying the award are delivered. As of December 31, 2018 , there are 3.3 million shares authorized for issuance under the Plans and 1.5 million shares remaining available for future issuance. Stock options are awards that allow employees to purchase shares of our stock at a fixed price. Stock option awards are granted at an exercise price equal to the market price of our stock at the time of grant. These awards, which generally vest one-third each year, are fully vested three years from the grant date. Stock options granted since 2013 have contractual terms of ten years. Restricted stock awards are unvested stock rights that are granted to employees and entitle the holder to shares of common stock as the award vests. Time-vested restricted stock rights typically vest ratably over three years regardless of company performance. The fair value of the time-vested awards is determined and fixed based on Ryder’s stock price on the date of grant. Performance-based restricted stock awards (PBRSRs) include a performance-based vesting condition. PBRSRs are awarded based on Ryder's one-year adjusted return on capital (ROC), the spread between ROC and the cost of capital (COC) or strategic revenue growth (SRG). Awards with a ROC performance-based vesting condition are segmented into three one -year performance periods. For these awards, up to 150% of the awards may be earned based on ROC measured against an annual ROC target. If earned, employees will receive the grant of stock three years after the grant date, provided they continue to be employed with Ryder, subject to Compensation Committee approval. For accounting purposes, the awards are not considered granted until the Compensation Committee approves the annual ROC target. During 2018 , 2017 and 2016 , 98,000 , 79,000 and 45,000 PBRSRs, respectively, were considered granted for accounting purposes. The fair value of the PBRSRs is determined and fixed on the grant date based on Ryder’s stock price on the date of grant. Share-based compensation expense is recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. Awards with a performance-based vesting condition measured by the spread between ROC and COC (ROC/COC) have a three -year performance period. For these awards, up to 200% of the awards may be earned based on ROC/COC measured against a three -year ROC/COC target. The majority of these awards include a total shareholder return (TSR) modifier. Ryder’s TSR will be compared against the TSR of each of the companies in a custom peer group to determine Ryder’s TSR percentile rank versus this custom peer group. The number of ROC/COC PBRSRs will then be adjusted based on Ryder’s relative TSR percentile rank. During 2018, approximately 51,000 PBRSRs with the ROC/COC condition were awarded under the Plans. The fair value of these PBRSRs is estimated using a lattice-based option-pricing valuation model that incorporates a Monte-Carlo simulation. Share-based compensation expense is recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. Awards with a SRG performance-based condition have a three-year performance period. For these awards, up to 200% of the awards may be earned based on SRG measured against a three -year SRG target. The majority of these awards include a TSR modifier. Ryder’s TSR will be compared against the TSR of each of the companies in a custom peer group to determine Ryder’s TSR percentile rank versus this custom peer group. The number of SRG PBRSRs will then be adjusted based on Ryder’s relative TSR percentile rank. During 2018, approximately 51,000 PBRSRs with the SRG condition were awarded under the Plans. The fair value of these PBRSRs is estimated using a lattice-based option-pricing valuation model that incorporates a Monte-Carlo simulation. Share-based compensation expense is recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. Market-based restricted stock awards include a market-based vesting provision. The awards are segmented into three performance periods of one , two and three years. At the end of each performance period, up to 150% of the award may be earned based on Ryder's TSR compared to the target TSR of a peer group over the applicable performance period. The awards compared Ryder's TSR to the TSR of a custom peer group. If earned, employees will receive the grant of stock at the end of the relevant three-year performance period provided they continue to be employed with Ryder, subject to Compensation Committee approval. The fair value of the market-based awards was determined on the date of grant using a Monte-Carlo valuation model. Share-based compensation expense is recognized on a straight-line basis over the vesting period and is recognized regardless of whether the awards vest. Certain employees also received cash awards prior to 2016 as part of our long-term incentive compensation program. The cash awards have the same vesting provisions as the market-based restricted stock awards granted in the respective years. The cash awards are accounted for as liability awards as they are based upon our own stock performance and are settled in cash. As a result, the liability is adjusted to reflect fair value at the end of each reporting period. The fair value of the market-based cash awards was estimated using a lattice-based option pricing valuation model that incorporates a Monte-Carlo simulation. The liability related to the cash awards was $1 million at both December 31, 2018 and 2017 . The compensation expense associated with cash awards was not material for the years ended December 31, 2018 and 2017. We grant stock awards to non-management members of the Board of Directors. Equity awards to new board members do not vest until the director has served a minimum of one year. Prior to 2018, board members received the awards upon separation from the Board. Beginning in 2018, each director may elect to receive his or her equity award in the form of either (i) shares that are distributed at the time of grant or (ii) restricted stock units (RSUs) which will entitle the director to receive one share of Ryder stock for each RSU granted and are distributed upon or after separation from service on the board. The fair value of the awards is determined and fixed based on Ryder’s stock price on the date of grant. Share-based compensation expense is recognized for RSUs in the year the RSUs are granted. Ryder shares delivered upon grant have standard voting rights and rights to dividend payments. RSUs that are distributed upon or after separation from service on the board are eligible for non-forfeitable dividend equivalents until distribution but such RSUs have no voting rights. Option Awards The following is a summary of option activity under our stock option plans as of and for the year ended December 31, 2018 : Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) (In years) (In thousands) Options outstanding at January 1 1,717 $ 70.47 Granted 347 74.72 Exercised (140 ) 55.99 Forfeited or expired (62 ) 72.62 Options outstanding at December 31 1,862 $ 72.28 7.0 $ — Vested and expected to vest at December 31 1,803 $ 72.25 7.2 $ — Exercisable at December 31 1,093 $ 72.74 6.1 $ — The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the close price of our stock on the last trading day of the year and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders if all options were exercised at year-end. This amount fluctuates based on the fair market value of our stock. Restricted Stock Awards The following is a summary of the status of Ryder’s unvested restricted stock awards as of and for the year ended December 31, 2018 : Time-Vested Market-Based Performance-Based Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value (In thousands) (In thousands) (In thousands) Unvested stock outstanding at January 1 433 $ 65.91 92 $ 68.26 94 $ 78.91 Granted 173 74.05 — — 200 73.88 Vested (1) (89) 79.02 (7) 89.40 (20) 78.58 Forfeited (2) (29) 70.92 (17) 75.14 (45) 76.02 Unvested stock outstanding at December 31 488 $ 66.11 68 $ 64.26 229 $ 73.41 (1) Includes awards attained above target. (2) Includes awards canceled due to employee terminations or performance and market conditions not being achieved. Stock Purchase Plan We maintain an Employee Stock Purchase Plan (ESPP) that enables eligible participants in the U.S. and Canada to purchase full or fractional shares of Ryder common stock through payroll deductions of up to 15% of eligible compensation. The ESPP provides for quarterly offering periods during which shares may be purchased at 85% of the fair market value of our stock. The exercise price is based on the fair market value of the stock on the last trading day of the quarter. Stock purchased under the ESPP must be held for 90 days. There were 5.5 million shares authorized for issuance under the existing ESPP at December 31, 2018 . There were 0.6 million shares remaining available to be purchased in the future under the ESPP at December 31, 2018 . The following table presents the weighted-average exercise price for shares granted and exercised under the ESPP: Years ended December 31, 2018 2017 2016 Shares granted and exercised 199,000 160,000 192,000 Weighted average exercise plan $ 54.89 $ 66.72 $ 56.17 Share-Based Compensation Fair Value Assumptions The fair value of each option award is estimated on the date of grant using a Black-Scholes-Merton option-pricing valuation model that uses the weighted-average assumptions noted in the table below. Expected volatility is based on historical volatility of our stock and implied volatility from traded options on our stock. The risk-free rate for periods within the contractual life of the stock option award is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the stock option award is granted with a maturity equal to the expected term of the stock option award. We use historical data to estimate stock option exercises and forfeitures within the valuation model. The expected term of stock option awards granted is derived from historical exercise experience under the share-based employee compensation arrangements and represents the period of time that stock option awards granted are expected to be outstanding. The fair value of market-based restricted stock awards is estimated using a lattice-based option-pricing valuation model that incorporates a Monte-Carlo simulation. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by employees who receive equity awards, and subsequent events are not indicative of the reasonableness of the original estimates of fair value made by Ryder. The following table presents the weighted-average assumptions used for options granted: Years ended December 31, 2018 2017 2016 Expected dividends 2.8% 2.3% 3.0% Expected volatility 29.4% 28.5% 35.2% Risk-free rate 2.7% 1.9% 1.1% Expected term in years 4.4 years 4.4 years 4.3 years Grant-date fair value $ 15.89 $ 15.71 $ 12.53 Exercise of Employee Stock Options and Purchase Plans The total intrinsic value of options exercised during 2018 , 2017 and 2016 was $3 million , $5 million and $5 million , respectively. The total cash received from employees under all share-based employee compensation arrangements for 2018 , 2017 and 2016 was $17 million , $21 million and $18 million , respectively. In connection with these exercises, the tax benefits generated from share-based employee compensation arrangements were $0.3 million , $0.2 million and $0.6 million for 2018 , 2017 and 2016 , respectively.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Pension Plans We historically sponsored several defined benefit pension plans covering most employees not covered by union-administered plans, including certain employees in foreign countries. These plans generally provided participants with benefits based on years of service and career-average compensation levels. In past years, we made amendments to defined benefit retirement plans that froze the retirement benefits for non-grandfathered and certain non-union employees in the U.S., Canada and the United Kingdom (U.K.). As a result of these amendments, non-grandfathered plan participants ceased accruing benefits under the plan as of the respective amendment effective date and began receiving an enhanced benefit under a defined contribution plan. All retirement benefits earned as of the amendment effective date were fully preserved and will be paid in accordance with the plan and legal requirements. The funding policy for these plans is to make contributions based on annual service costs plus amortization of unfunded past service liability, but not greater than the maximum allowable contribution deductible for federal income tax purposes. We may, from time to time, make voluntary contributions to our pension plans, which exceed the amount required by statute. The majority of the plans’ assets are invested in a master trust that, in turn, is invested primarily in commingled funds whose investments are listed stocks and bonds. We also have a non-qualified supplemental pension plan covering certain U.S. employees, which provides for incremental pension payments from our funds so that total pension payments equal the amounts that would have been payable from our principal pension plans if it were not for limitations imposed by income tax regulations. The accrued pension liability related to this plan was $53 million and $55 million at December 31, 2018 and 2017 , respectively. Pension Expense Pension expense from continuing operations was as follows: Years ended December 31, 2018 2017 2016 (In thousands) Company-administered plans: Service cost $ 12,108 12,345 12,977 Interest cost 78,234 86,431 94,476 Expected return on plan assets (101,980 ) (91,062 ) (90,588 ) Pension settlement expense 3,061 — — Amortization of: Net actuarial loss 28,593 32,987 31,777 Prior service cost 550 579 2,976 20,566 41,280 51,618 Union-administered plans 9,326 15,553 9,597 Net pension expense $ 29,892 56,833 61,215 Company-administered plans: U.S. $ 28,043 43,717 53,319 Foreign (7,477 ) (2,437 ) (1,701 ) 20,566 41,280 51,618 Union-administered plans 9,326 15,553 9,597 $ 29,892 56,833 61,215 During 2018, we paid employee benefit settlements from our U.K. pension plan that were individually immaterial but in the aggregate resulted in a settlement charge of $3 million , which is recorded in the "Non-operating pension costs" in our Consolidated Statement of Earnings. During 2016, we determined that certain pension benefit improvements made in 2009 had not been fully reflected in our projected benefit obligation. Because the amounts were not material to our consolidated financial statements in any individual period, and the cumulative amount is not material to 2016 results, we recognized a one-time, non-cash charge of $8 million in "Selling, general and administrative expenses" and a $13 million pre-tax increase to “Accumulated other comprehensive loss” in our consolidated financial statements to correctly state the pension benefit obligation and account for these 2009 benefit improvements. The following table sets forth the weighted-average actuarial assumptions used for Ryder’s pension plans in determining annual pension expense: U.S. Plans Years ended December 31, Foreign Plans Years ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.70% 4.20% 4.50% 2.70% 3.90% 3.70% Rate of increase in compensation levels 3.00% 3.00% 3.00% 3.08% 3.10% 3.10% Expected long-term rate of return on plan assets 5.40% 5.40% 5.85% 5.50% 5.48% 5.44% Gain and loss amortization period (years) 21 21 23 26 26 27 The return on plan assets assumption reflects the weighted-average of the expected long-term rates of return for the broad categories of investments held in the plans. The expected long-term rate of return is adjusted when there are fundamental changes in expected returns or in asset allocation strategies of the plan assets. Obligations and Funded Status The following table sets forth the benefit obligations, assets and funded status associated with our pension plans: December 31, 2018 2017 (In thousands) Change in benefit obligations: Benefit obligations at January 1 $ 2,298,902 2,228,762 Service cost 12,108 12,345 Interest cost 78,234 86,431 Actuarial (gain) loss (120,934 ) 100,905 Pension annuity settlement — (66,423 ) Benefits paid (104,560 ) (104,054 ) Foreign currency exchange rate changes (28,607 ) 40,936 Benefit obligations at December 31 2,135,143 2,298,902 Change in plan assets: Fair value of plan assets at January 1 1,941,330 1,787,075 Actual return on plan assets (108,386 ) 244,916 Employer contribution 27,741 41,219 Benefits paid (104,560 ) (104,054 ) Pension annuity settlement — (71,299 ) Foreign currency exchange rate changes (30,582 ) 43,473 Fair value of plan assets at December 31 1,725,543 1,941,330 Funded status $ (409,600 ) (357,572 ) Funded percent 81 % 84 % During 2017, we completed a transfer of future retiree benefits in our U.S. defined benefit plan to a third-party annuity company. We paid $71 million in connection with this transfer, which included a $66 million reduction in our projected benefit obligation and an annuity premium. We did not record a gain or loss on this transaction as the cost of all settlements during the year, including this transaction, were less than our combined service and interest costs for the year. The funded status of our pension plans was presented in the Consolidated Balance Sheets as follows: December 31, 2018 2017 (In thousands) Noncurrent asset $ 51,133 58,708 Current liability (3,754 ) (3,863 ) Noncurrent liability (456,979 ) (412,417 ) Net amount recognized $ (409,600 ) (357,572 ) Amounts recognized in accumulated other comprehensive loss (pre-tax) consisted of: December 31, 2018 2017 (In thousands) Prior service cost $ 14,519 11,135 Net actuarial loss 929,995 878,386 Net amount recognized $ 944,514 889,521 In 2019 , we expect to recognize $32 million of net actuarial loss amortization as a component of pension expense. The following table sets forth the weighted-average actuarial assumptions used in determining funded status: U.S. Plans December 31, Foreign Plans December 31, 2018 2017 2018 2017 Discount rate 4.35% 3.70% 3.04% 2.70% Rate of increase in compensation levels 3.00% 3.00% 3.08% 3.10% At December 31, 2018 and 2017 , our accumulated benefit obligations, as well as, our pension obligations (accumulated benefit obligations (ABO), and projected benefit obligations (PBO)), greater than the fair value of the related plan assets for our U.S. and foreign plans were as follows: U.S. Plans December 31, Foreign Plans December 31, Total December 31, 2018 2017 2018 2017 2018 2017 (In thousands) Total accumulated benefit obligations $ 1,685,270 1,781,882 429,640 492,864 2,114,910 2,274,746 Plans with pension obligations in excess of plan assets: PBO 1,703,847 1,804,260 6,912 7,802 1,710,759 1,812,062 ABO 1,685,270 1,781,882 5,788 6,502 1,691,058 1,788,384 Fair value of plan assets 1,250,032 1,395,790 — — 1,250,032 1,395,790 Plan Assets Our pension investment strategy is to reduce the effects of future volatility on the fair value of our pension assets relative to our pension liabilities. We increase our allocation of high quality, longer-term fixed income securities and reduce our allocation of equity investments as the funded status of the plans improve. The plans utilize several investment strategies, including actively and passively managed equity and fixed income strategies. The investment policy establishes targeted allocations for each asset class that incorporate measures of asset and liability risks. Deviations between actual pension plan asset allocations and targeted asset allocations may occur as a result of investment performance and changes in the funded status from time to time. Rebalancing of our pension plan asset portfolios is evaluated periodically and rebalanced if actual allocations exceed an acceptable range. U.S. plans account for approximately 72% of our total pension plan assets. Equity securities primarily include investments in both domestic and international common collective trusts and publicly traded equities. Fixed income securities primarily include domestic collective trusts and corporate bonds. Other types of investments include private equity fund-of-funds and hedge fund-of-funds. Equity and fixed income securities in our international plans include actively and passively managed mutual funds. The following table presents the fair value of each major category of pension plan assets and the level of inputs used to measure fair value as of December 31, 2018 and 2017 : Fair Value Measurements at Asset Category Total Level 1 Level 2 Level 3 (In thousands) Equity securities: U.S. common collective trusts $ 315,741 — 315,741 — Foreign common collective trusts 352,040 — 352,040 — Fixed income securities: Corporate bonds 79,155 — 79,155 — Common collective trusts 856,771 — 856,771 — Private equity and hedge funds 121,836 — — 121,836 Total $ 1,725,543 — 1,603,707 $ 121,836 Fair Value Measurements at Asset Category Total Level 1 Level 2 Level 3 (In thousands) Equity securities: U.S. common collective trusts $ 443,405 — 443,405 — Foreign common collective trusts 458,111 — 458,111 — Fixed income securities: Corporate bonds 85,117 — 85,117 — Common collective trusts 840,104 — 840,104 — Private equity and hedge funds 114,593 — — 114,593 Total $ 1,941,330 — 1,826,737 114,593 The following is a description of the valuation methodologies used for our pension assets as well as the level of input used to measure fair value: Equity securities — These investments include common and preferred stocks and index common collective trusts that track U.S. and foreign indices. The common collective trusts were valued at the unit prices established by the funds’ sponsors based on the fair value of the assets underlying the funds. Since the units of the funds are not actively traded, the fair value measurements have been classified within Level 2 of the fair value hierarchy. Fixed income securities — These investments include investment grade bonds of U.S. issuers from diverse industries, government issuers, index common collective trusts that track the Barclays Aggregate Index and other fixed income investments (primarily mortgage-backed securities). Fair values for the corporate bonds were valued using third-party pricing services. These sources determine prices utilizing market income models which factor in, where applicable, transactions of similar assets in active markets, transactions of identical assets in infrequent markets, interest rates, bond or credit default swap spreads and volatility. Since the corporate bonds are not actively traded, the fair value measurements have been classified within Level 2 of the fair value hierarchy. The common collective trusts were valued at the unit prices established by the funds’ sponsors based on the fair value of the assets underlying the funds. Since the units of the funds are not actively traded, the fair value measurements have been classified within Level 2 of the fair value hierarchy. The other investments are not actively traded and fair values are estimated using bids provided by brokers, dealers or quoted prices of similar securities with similar characteristics or pricing models. Therefore, the other investments have been classified within Level 2 of the fair value hierarchy. Private equity and hedge funds — These investments represent limited partnership interests in private equity and hedge funds. The partnership interests are valued by the general partners based on the underlying assets in each fund. The limited partnership interests are valued using unobservable inputs and have been classified within Level 3 of the fair value hierarchy. The following table presents a summary of changes in the fair value of the pension plans’ Level 3 assets for the years ended December 31, 2018 and 2017 : 2018 2017 (In thousands) Beginning balance at January 1 $ 114,593 102,884 Return on plan assets: Relating to assets still held at the reporting date 6,762 10,795 Relating to assets sold during the period (38 ) (405 ) Purchases, sales, settlements and expenses 519 1,319 Ending balance at December 31 $ 121,836 114,593 The following table details pension benefits expected to be paid in each of the next five fiscal years and in aggregate for the five fiscal years thereafter: (In thousands) 2019 $ 104,596 2020 107,603 2021 112,469 2022 116,601 2023 120,086 2024-2028 639,201 For 2019 , required pension contributions to our pension plans are estimated to be $32 million . Multi-employer Plans We participate in multi-employer plans that provide defined benefits to certain employees covered by collective-bargaining agreements. Such plans are usually administered by a board of trustees comprised of the management of the participating companies and labor representatives. The net pension cost of these plans is equal to the annual contribution determined in accordance with the provisions of negotiated labor contracts. Assets contributed to such plans are not segregated or otherwise restricted to provide benefits only to our employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following respects: 1) assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees and former employees of other participating employers; 2) if a participating employer is no longer able to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers at annual contribution rates under the collective bargaining agreements; 3) if there is a mass withdrawal of substantially all employers from the plan, we may be required to pay the plan an annual contribution based on historical contribution levels as prescribed by federal statute; and 4) if we choose to stop participating in some of our multi-employer plans, we may be required to pay those plans an amount based on the underfunded status of the plan, which is referred to as a withdrawal liability. During 2017, we recorded an estimated pension settlement charge of $5 million for the exit from the Central States Southeast and Southwest Areas multi-employer pension plan. This charge was recorded within “Selling, general, and administrative expenses” in our Consolidated Statement of Earnings and is included in the Union-administered plans expense. Our participation in these plans is outlined in the table below. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2018 and 2017 is for the plan years ended December 31, 2017 and December 31, 2016 , respectively. The zone status is based on information that we received from the plan. Among other factors, plans in the red zone are generally less than sixty-five percent funded, plans in the yellow zone are less than eighty percent funded, and plans in the green zone are at least eighty percent funded. Pension Protection Act Zone Status Ryder Contributions Expiration Date(s) of Collective-Bargaining Agreement(s) Pension Fund Employer Identification Number 2018 2017 FIP/RP Status Pending/ Implemented (1) 2018 2017 2016 Surcharge Imposed (Dollars in thousands) Western Conference Teamsters 91-6145047 Green Green No $ 3,488 3,245 2,613 No 01/12/18 to 03/31/21 IAM National 51-6031295 Green Green No 3,953 3,891 4,162 No 03/31/17 to 11/30/19 Automobile Mechanics 36-6042061 Yellow Yellow FIP Adopted 1,435 2,048 2,201 Yes 10/31/17 to 05/31/19 Other funds 931 915 760 Total contributions 9,807 10,099 9,736 Pension settlement (benefit) charges (481 ) 5,454 (139 ) Union-administered plans $ 9,326 15,553 9,597 _____________ (1) The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. Our contributions are impacted by changes in contractual contributions rates as well as changes in the number of employees covered by each plan. Savings Plans Employees who do not actively participate in pension plans and are not covered by union-administered plans are generally eligible to participate in enhanced savings plans. These plans provide for (i) a company contribution even if employees do not make contributions for employees hired before January 1, 2016, (ii) a company match of employee contributions of eligible pay, subject to tax limits and (iii) a discretionary company match. Savings plan costs totaled $40 million in 2018 , $39 million in 2017 and $38 million in 2016 . Deferred Compensation and Long-Term Compensation Plans We have deferred compensation plans that permit eligible U.S. employees, officers and directors to defer a portion of their compensation. The deferred compensation liability, including Ryder matching amounts and accumulated earnings, totaled $60 million and $63 million at December 31, 2018 and 2017 , respectively. We have established grantor trusts (Rabbi Trusts) to provide funding for benefits payable under the supplemental pension plan, deferred compensation plans and long-term incentive compensation plans. The assets held in the trusts were $60 million and $63 million at December 31, 2018 and 2017 , respectively. The Rabbi Trusts’ assets consist of short-term cash investments and a managed portfolio of equity securities, including our common stock. These assets, except for the investment in our common stock, are included in “Direct financing leases and other assets” because they are available to our general creditors in the event of insolvency. The equity securities are classified as trading securities and stated at fair value. Both realized and unrealized gains and losses are included in “Miscellaneous income, net.” The Rabbi Trusts’ investments of $1 million in our common stock at December 31, 2018 and $2 million at December 31, 2017 , are reflected at historical cost and included in shareholders’ equity. Other Postretirement Benefits We sponsor plans that provide retired U.S. and Canadian employees with certain healthcare and life insurance benefits. Substantially all U.S. and Canadian employees not covered by union-administered health and welfare plans are eligible for the healthcare benefits. Healthcare benefits for our principal plan are generally provided to qualified retirees under age 65 and eligible dependents. This plan requires employee contributions that vary based on years of service and include provisions that limit our contributions. In prior years, we made amendments to our healthcare benefits for early retirees, which modified future eligibility requirements for non-grandfathered retirees in the U.S. The post-retirement medical plan was closed to non-grandfathered participants in 2013. The benefit obligation was $19 million and $21 million at December 31, 2018 and 2017 , respectively. The amount of postretirement benefit expense was not material for the years December 31, 2018 , 2017 and 2016 .

Environmental Matters

Environmental Matters	12 Months Ended
	Dec. 31, 2018
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL MATTERS	ENVIRONMENTAL MATTERS Our operations involve storing and dispensing petroleum products, primarily diesel fuel, regulated under environmental protection laws. These laws require us to eliminate or mitigate the effect of such substances on the environment. In response to these requirements, we continually upgrade our operating facilities and implement various programs to detect and minimize contamination. In addition, we have received notices from the Environmental Protection Agency (EPA) and others that we have been identified as a potentially responsible party under the Comprehensive Environmental Response, Compensation and Liability Act, the Superfund Amendments and Reauthorization Act and similar state statutes. We may be required to share in the cost of cleanup of 19 identified disposal sites. Our environmental expenses which are presented within “Cost of fuel services” in our Consolidated Statements of Earnings, consist of remediation costs as well as normal recurring expenses such as licensing, testing and waste disposal fees. These expenses totaled $12 million , $12 million and $10 million in 2018 , 2017 and 2016 , respectively. The carrying amount of our environmental liabilities was $10 million and $10 million at December 31, 2018 and 2017 , respectively. Our asset retirement obligations related to fuel tanks to be removed are not included above. Asset retirement obligations totaled $27 million and $26 million as of December 31, 2018 and 2017 , respectively. The carrying amount of our environmental liabilities and our asset retirement obligations are included in “Accrued expenses and other current liabilities” and “Other non-current liabilities” in our Consolidated Balance Sheets. The ultimate cost of our environmental liabilities cannot presently be projected with certainty due to the presence of several unknown factors, primarily the level of contamination, the effectiveness of selected remediation methods, the stage of investigation at individual sites, the determination of our liability in proportion to other responsible parties and the recoverability of such costs from third parties. Based on information presently available, we believe that the ultimate disposition of these matters, although potentially material to the results of operations in any one year, will not have a material adverse effect on our financial condition or liquidity.

Other Items Impacting Comparabi

Other Items Impacting Comparability	12 Months Ended
	Dec. 31, 2018
Other Items Impacting Comparability [Abstract]
OTHER ITEMS IMPACTING COMPARABILITY	OTHER ITEMS IMPACTING COMPARABILITY Our primary measure of segment performance as shown in Note 29 , " Segment Reporting ", excludes certain items we do not believe are representative of the ongoing operations of the segment. Excluding these items from our segment measure of performance allows for better year over year comparison: Years ended December 31, 2018 2017 2016 (In thousands) Restructuring and other charges, net (1) $ 9,594 21,405 5,074 Goodwill impairment (1), (2) 15,513 — — Tax reform related bonus — 23,278 — Operating tax adjustment — 2,205 — Pension related adjustment (3) — 5,454 7,650 Gain on sale of property (4) — (24,122 ) — Restructuring and other items, net $ 25,107 28,220 12,724 _______________ (1) Refer to Note 5 , " Restructuring and Other Charges, Net ," for additional information. (2) Refer to Note 10 , " Goodwill ," for additional information. (3) Refer to Note 23 , " Employee Benefit Plans ," for additional information. (4) Refer to Note 28 , Miscellaneous Income, Net for additional information. In connection with the passing of the 2017 Tax Cuts and Jobs Act, we awarded a one-time bonus, totaling $23 million in the aggregate, to all U.S.-based non-incentive eligible employees of the Company as of December 31, 2017 . The bonus is reflected within “Selling, general and administrative expenses” in our Consolidated Statement of Earnings. During 2017, we determined that certain operating tax expenses related to prior periods had not been recognized in prior period earnings. We recorded a one-time charge of $2 million within “Selling, general and administrative expenses” in our Consolidated Statement of Earnings as the impact of the adjustment was not material to our consolidated financial statements.

Other Matters

Other Matters	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
OTHER MATTERS	OTHER MATTERS We are a party to various claims, complaints and proceedings arising in the ordinary course of our continuing business operations including, but not limited to, those relating to commercial and employment claims, environmental matters, risk management matters (e.g., vehicle liability, workers’ compensation, etc.) and administrative assessments primarily associated with operating taxes. We have established loss provisions for matters in which losses are probable and can be reasonably estimated. For matters from continuing operations, we believe that the resolution of these claims, complaints and legal proceedings will not have a material effect on our consolidated financial statements. Our estimates regarding potential losses and materiality are based on our judgment and assessment of the claims utilizing currently available information. Although we will continue to reassess our reserves and estimates based on future developments, our objective assessment of the legal merits of such claims may not always be predictive of the outcome and actual results may vary from our current estimates.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information was as follows: Years ended December 31, 2018 2017 2016 (In thousands) Interest paid $ 161,826 129,559 143,990 Income taxes paid 22,965 13,692 14,062 Changes in accounts payable related to purchases of revenue earning equipment 114,862 80,781 (142,256 ) Operating and revenue earning equipment acquired under capital leases 10,701 7,057 1,230 The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows. December 31, 2018 2017 (In thousands) Cash and cash equivalents $ 68,111 78,348 Restricted cash included in prepaid expenses and other current assets — 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 68,111 83,022

Miscellaneous Income, Net

Miscellaneous Income, Net	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
MISCELLANEOUS INCOME, NET	MISCELLANEOUS INCOME, NET Years ended December 31, 2018 2017 2016 Gains on sales of operating property and equipment $ 2,478 26,093 2,475 Insurance proceeds/recoveries 1,155 1,734 966 Contract settlement 817 1,600 — Foreign currency transaction (losses) gains (459 ) 657 1,236 Rabbi trust investment (loss) income (3,247 ) 10,522 2,763 Other, net 4,643 3,639 5,628 Total $ 5,387 44,245 13,068

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Ryder is a global leader in transportation and supply chain management solutions. Our operating segments are aggregated into reportable business segments based upon similar economic characteristics, products, services, customers and delivery methods. We report our financial performance based on three business segments: (1) FMS, which provides full service leasing and leasing with flexible maintenance options, commercial rental, and contract or transactional maintenance services of trucks, tractors and trailers to customers principally in the U.S., Canada and the U.K.; (2) DTS, which provides turnkey transportation solutions in the U.S. that includes dedicated vehicles, drivers and engineering and administrative support; and (3) SCS, which provides integrated logistics solutions, including distribution, management, dedicated transportation and professional services primarily in North America. Dedicated transportation services provided as part of an integrated, multi-service, supply chain solution to SCS customers are reported in the SCS business segment. Our primary measurement of segment financial performance, defined as “Earnings Before Tax” (EBT) from continuing operations, includes an allocation of Central Support Services (CSS) and excludes non-operating pension costs, restructuring and other charges, net discussed in Note 5 , " Restructuring and Other Charges, Net " and items discussed in Note 25 , " Other Items Impacting Comparability ." CSS represents those costs incurred to support all business segments, including human resources, finance, corporate services, public affairs, information technology, health and safety, legal, marketing and corporate communications. The objective of the EBT measurement is to provide clarity on the profitability of each business segment and, ultimately, to hold leadership of each business segment accountable for their allocated share of CSS costs. Certain costs are considered to be overhead not attributable to any segment and remain unallocated in CSS. Included among the unallocated overhead remaining within CSS are the costs for investor relations, public affairs and certain executive compensation. CSS costs attributable to the business segments are predominantly allocated to FMS, DTS and SCS as follows: • Finance, corporate services, and health and safety — allocated based upon estimated and planned resource utilization; • Human resources — individual costs within this category are allocated under various methods, including allocation based on estimated utilization and number of personnel supported; • Information technology — principally allocated based upon utilization-related metrics such as number of users or minutes of CPU time. Customer-related project costs and expenses are allocated to the business segment responsible for the project; and • Other — represents legal and other centralized costs and expenses including certain share-based incentive compensation costs. Expenses, where allocated, are based primarily on the number of personnel supported. Our FMS segment leases revenue earning equipment and provides fuel, maintenance and other ancillary services to the DTS and SCS segments. Inter-segment revenue and EBT are accounted for at rates similar to those executed with third parties. EBT related to inter-segment equipment and services billed to DTS and SCS customers (equipment contribution) are included in both FMS and the business segment that served the customer and then eliminated (presented as “Eliminations”). Prior year amounts have been reclassified to conform to the current period presentation. Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Each business segment follows the same accounting policies as described in Note 1 , “ Summary of Significant Accounting Policies .” Business segment revenue and EBT from continuing operations is as follows: Years ended December 31, 2018 2017 2016 (In thousands) Revenue: Fleet Management Solutions: ChoiceLease $ 2,602,831 2,460,424 2,362,040 Commercial rental 905,305 777,261 808,912 ChoiceLease and commercial rental 3,508,136 3,237,685 3,170,952 SelectCare 462,046 428,422 415,507 Other 87,331 77,450 78,042 Fuel services revenue 620,245 520,500 463,738 Total Fleet Management Solutions from external customers 4,677,758 4,264,057 4,128,239 Inter-segment revenue 577,469 469,514 427,955 Fleet Management Solutions 5,255,227 4,733,571 4,556,194 Dedicated Transportation Solutions 1,333,313 1,095,645 1,020,543 Supply Chain Solutions 2,398,144 1,937,352 1,609,356 Eliminations (577,469 ) (469,514 ) (427,955 ) Total revenue $ 8,409,215 7,297,054 6,758,138 EBT: Fleet Management Solutions $ 324,345 313,002 371,126 Dedicated Transportation Solutions 61,236 55,346 63,204 Supply Chain Solutions 133,570 103,561 106,477 Eliminations (63,594 ) (53,275 ) (50,148 ) 455,557 418,634 490,659 Unallocated Central Support Services (49,048 ) (48,128 ) (40,736 ) Non-operating pension costs (1) (7,541 ) (27,741 ) (29,943 ) Restructuring and other items, net (2) (25,107 ) (28,220 ) (12,724 ) Earnings before income taxes from continuing operations $ 373,861 314,545 407,256 ______________ (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest cost and expected return on plan assets components of pension and postretirement benefit costs. (2) See Note 25 , “ Other Items Impacting Comparability ,” for a discussion of items excluded from our primary measure of segment performance. The following table sets forth non-operating pension costs and share-based compensation expense, depreciation expense, used vehicle sales, net, amortization expense and other non-cash charges, net, interest expense (income), capital expenditures paid and total assets for the years ended December 31, 2018 , 2017 and 2016 , as provided to the chief operating decision-maker for each of Ryder’s reportable business segments: FMS DTS SCS CSS Eliminations Total (In thousands) 2018 Non-operating pension costs and share-based compensation expense $ 6,340 1,831 5,283 19,039 — 32,493 Depreciation expense (1) $ 1,354,544 4,773 34,729 918 — 1,394,964 Used vehicle sales, net $ 22,021 (43 ) (239 ) — — 21,739 Amortization expense and other non-cash charges, net $ 26,203 542 3,355 1,053 — 31,153 Interest expense (income) (2) $ 179,562 (2,262 ) 1,067 193 — 178,560 Capital expenditures paid (3) $ 2,979,482 1,444 45,348 24,135 — 3,050,409 Total assets $ 11,704,332 324,906 1,085,001 297,709 (360,864 ) 13,051,084 2017 Non-operating pension costs and share-based compensation expense $ 5,339 1,270 2,982 37,117 — 46,708 Depreciation expense (1) $ 1,218,492 3,520 32,255 908 — 1,255,175 Used vehicle sales, net $ 17,553 (113 ) (199 ) — — 17,241 Amortization expense and other non-cash charges, net $ 29,550 1,015 (21,967 ) (263 ) — 8,335 Interest expense (income) (2) $ 144,137 (1,659 ) (2,446 ) 318 — 140,350 Capital expenditures paid (3) $ 1,783,917 3,375 50,117 23,027 — 1,860,436 Total assets $ 10,388,022 278,863 870,048 196,686 (269,620 ) 11,463,999 2016 Non-operating pension costs and share-based compensation expense $ 5,464 1,254 2,764 46,775 — 56,257 Depreciation expense (1) $ 1,156,888 3,222 25,956 984 — 1,187,050 Used vehicle sales, net $ (724 ) (90 ) (158 ) — — (972 ) Amortization expense and other non-cash charges, net $ 34,652 1,027 3,215 (37 ) — 38,857 Interest expense (income) (2) $ 151,297 (1,901 ) (1,663 ) 110 — 147,843 Capital expenditures paid $ 1,814,146 2,551 64,186 24,274 — 1,905,157 Total assets $ 9,954,230 257,762 717,915 199,745 (217,439 ) 10,912,213 ____________ (1) Depreciation expense associated with CSS assets was allocated to business segments based upon estimated and planned asset utilization. Depreciation expense totaling $25 million , $24 million and $24 million during 2018 , 2017 and 2016 , respectively, associated with CSS assets was allocated to other business segments. (2) Interest expense was primarily allocated to the FMS segment since such borrowings were used principally to fund the purchase of revenue earning equipment used in FMS; however, interest income was also reflected in DTS and SCS based on targeted segment leverage ratios. (3) Excludes acquisition payments of $35 million in 2018 and $1 million in 2017 . See Note 3 , " Acquisitions ," for additional information. Geographic Information Years ended December 31, 2018 2017 2016 (In thousands) Long-lived assets: United States $ 9,114,595 7,935,167 7,854,845 Foreign: Canada 648,856 623,576 532,403 Europe 522,633 527,869 472,027 Mexico 55,462 44,997 33,979 Singapore 237 357 338 1,227,188 1,196,799 1,038,747 Total $ 10,341,783 9,131,966 8,893,592

Quarterly Information (Unaudite

Quarterly Information (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY INFORMATION (UNAUDITED)	QUARTERLY INFORMATION (UNAUDITED) Earnings from Continuing Operations Before Income Taxes Earnings from Continuing Operations Earnings from Continuing Operations per Common Share Net Earnings per Common Share Revenue Net Earnings Basic Diluted Basic Diluted (In thousands, except per share amounts) 2018 First quarter $ 1,903,467 48,100 33,932 33,505 0.65 0.64 0.64 0.63 Second quarter 2,089,338 98,283 43,519 42,258 0.83 0.82 0.80 0.80 Third quarter 2,158,061 116,140 89,511 88,751 1.70 1.69 1.69 1.68 Fourth quarter 2,258,349 111,338 108,645 108,784 2.07 2.06 2.07 2.06 Full year $ 8,409,215 373,861 275,607 273,298 5.24 5.21 5.20 5.17 2017 First quarter $ 1,736,983 60,622 38,536 38,406 0.73 0.72 0.72 0.72 Second quarter 1,788,028 80,854 51,395 50,868 0.97 0.97 0.96 0.96 Third quarter 1,840,897 94,492 59,040 58,750 1.12 1.12 1.12 1.11 Fourth quarter 1,931,146 78,577 643,318 643,808 12.22 12.12 12.23 12.13 Full year $ 7,297,054 314,545 792,289 791,832 15.00 14.90 15.00 $ 14.89 Note: EPS amounts may not be additive due to rounding. Quarterly and year-to-date computations of per share amounts are made independently; therefore, the sum of per-share amounts for the quarters may not equal per-share amounts for the year. See Note 5 , “ Restructuring and Other Charges, Net ,” and Note 25 , “ Other Items Impacting Comparability ,” for items included in earnings during 2018 and 2017 . Earnings from continuing operations and net earnings reflect the tax benefit related to the 2017 Tax Cuts and Jobs Act that was signed into law in December 2017. See Note 14 , " Income Taxes " for more information.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	Additions Description Balance at Beginning of Period Charged to Earnings Transferred from Other Accounts (1) Deductions (2) Balance at End of Period (In thousands) 2018 Accounts receivable allowance $ 13,847 10,890 — 7,555 17,182 Self-insurance accruals (3) $ 348,612 359,528 82,904 433,518 357,526 Valuation allowance on deferred tax assets $ 18,667 (534 ) — 1,947 16,186 2017 Accounts receivable allowance $ 14,915 12,335 — 13,403 13,847 Self-insurance accruals (3) $ 336,901 327,306 74,153 389,748 348,612 Valuation allowance on deferred tax assets $ 16,387 2,213 — (67 ) 18,667 2016 Accounts receivable allowance $ 15,560 13,118 — 13,763 14,915 Self-insurance accruals (3) $ 311,821 324,673 71,703 371,296 336,901 Valuation allowance on deferred tax assets $ 14,991 98 — (1,298 ) 16,387 ______________ (1) Transferred from other accounts includes employee contributions made to the medical and dental self-insurance plans. (2) Deductions represent write-offs, lease termination payments, insurance claim payments during the period and net foreign currency translation adjustments. (3) Self-insurance accruals include vehicle liability, workers’ compensation, property damage, cargo and medical and dental, which comprise our self-insurance programs. Amounts charged to earnings include developments in prior years' selected loss development factors, which charged earnings by $1 million in 2018 and $9 million in 2016 and benefited earnings by $9 million in 2017 . The 2016 presentation of self-insurance accruals has been revised to reflect amounts charged to earnings and deductions consistent with current year presentation.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Consolidation and Presentation	Basis of Consolidation and Presentation The consolidated financial statements include the accounts of Ryder System, Inc. (Ryder) and all entities in which Ryder has a controlling voting interest (“subsidiaries”) and variable interest entities (“VIEs”) where Ryder is determined to be the primary beneficiary. Ryder is deemed to be the primary beneficiary if we have the power to direct the activities that most significantly impact the entity’s economic performance and we share in the significant risks and rewards of the entity. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on management’s best knowledge of historical trends, actions that we may take in the future, and other information available when the consolidated financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available. Areas where the nature of the estimate make it reasonably possible that actual results could materially differ from the amounts estimated include: depreciation and residual value guarantees, employee benefit plan obligations, self-insurance accruals, impairment assessments on long-lived assets (including goodwill and indefinite-lived intangible assets), allowance for accounts receivable, income tax liabilities and contingent liabilities.
Cash Equivalents	Cash Equivalents Cash equivalents represent cash in excess of current operating requirements invested in short-term, interest-bearing instruments with maturities of three months or less at the date of purchase and are stated at cost.
Revenue Recognition	Revenue Recognition We recognize revenue upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for amounts collected from customers for taxes, such as sales tax, that are remitted to the applicable taxing authorities. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We generally recognize revenue over time as we perform because of continuous transfer of control to our customers. We generate revenue primarily through contracts with customers to lease, rent and maintain revenue earning equipment and to provide logistics management and dedicated services. We classify our revenues in the categories of lease and rental, services and fuel. Our lease and rental revenues are accounted for in accordance with existing lease guidance in Leases (Topic 840) and our services and fuel revenues are accounted for in accordance with revenue recognition guidance in Revenue from Contracts with Customers (Topic 606) . Lease and rental Lease and rental includes ChoiceLease and commercial rental revenues from our FMS business segment. We offer a full service lease as well as a lease with more flexible maintenance options under our ChoiceLease product line, which are marketed, priced and managed as bundled lease arrangements, and include equipment, service and financing components. We do not offer a stand-alone unbundled lease of new vehicles. For these reasons, both the lease and service components of our leases are included within lease and rental revenues. ChoiceLease revenue is recognized in accordance with existing lease accounting guidance in Topic 840. Our ChoiceLease arrangements include lease deliverables such as the lease of a vehicle and the executory agreement for the maintenance, insurance, taxes and other services related to the leased vehicles during the lease term. Arrangement consideration is allocated between the lease deliverables and non-lease deliverables based on management's best estimate of the relative fair value of each deliverable. The arrangement consideration is accounted for pursuant to accounting guidance on leases. Our ChoiceLease arrangements provide for a fixed charge billing and a variable charge billing based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Revenue from ChoiceLease and rental agreements is recognized based on the classification of the arrangement, typically as either an operating or direct financing lease (DFL). The majority of our leases and all of our rental arrangements are classified as operating leases and, therefore, we recognize lease and commercial rental revenue on a straight-line basis as it becomes receivable over the term of the lease or rental arrangement. Lease and rental agreements do not usually provide for scheduled rent increases or escalations. However, most lease agreements allow for rate changes based upon changes in the Consumer Price Index (CPI). ChoiceLease and rental agreements also provide for vehicle usage charges based on a time charge and/or a fixed per-mile charge. The fixed time charge, the fixed per-mile charge and the changes in rates attributed to changes in the CPI are considered contingent rentals and are not considered fixed or determinable until the effect of CPI changes is implemented or the equipment usage occurs. Leases not classified as operating leases are generally considered direct financing leases. We recognize revenue for direct financing leases using the effective interest method, which provides a constant periodic rate of return on the outstanding investment on the lease. Cash receipts on impaired direct financing lease receivables are first applied to the direct financing lease receivable and then to any unrecognized income. A direct financing lease receivable is considered impaired, based on current information and events, if it is probable that we will be unable to collect all amounts due according to the contractual terms of the lease. Services Services include SelectCare and other revenues from our FMS business segment and all DTS and SCS revenues. Under our SelectCare arrangements, we provide maintenance and repairs required to keep a vehicle in good operating condition, schedule preventive maintenance inspections and provide access to emergency road service and substitute vehicles. The vast majority of our services are routine services performed on a recurring basis throughout the term of the arrangement. From time to time, we provide non-routine major repair services in order to place a vehicle back in service. Through our SelectCare product line, we provide maintenance services to customers who do not choose to lease vehicles from us. Our maintenance service arrangement provides for a monthly fixed charge and a monthly variable charge based on mileage or time usage. Fixed charges are typically billed at the beginning of the month for the services to be provided that month. Variable charges are typically billed a month in arrears. Most maintenance agreements allow for rate changes based upon changes in the CPI. The fixed per-mile charge and the changes in rates attributed to changes in the CPI are recognized as earned. Costs associated with the activities performed under our maintenance arrangements are primarily comprised of labor, parts and outside work. These costs are expensed as incurred. Non-chargeable maintenance costs have been allocated and reflected within “Cost of services” based on the proportionate maintenance-related labor costs relative to all product lines. The maintenance service is the only performance obligation in SelectCare contracts. This single performance obligation is satisfied at a point in time for transactional maintenance services or over time for contract maintenance agreements. For contract maintenance agreements, the maintenance performance obligation represents a series of distinct maintenance services performed during the contract period as the services provided are substantially the same and have the same pattern of transfer to our customers. Revenue from SelectCare contracts is recognized as maintenance services are rendered over the terms of the related arrangements. We generally account for long-term maintenance contracts as one-year contracts since our maintenance arrangements are generally cancelable, without penalty, after one year. As a practical expedient, we do not disclose information about remaining performance obligations that have original expected durations of one year or less. For maintenance contracts that are longer than one year (i.e., not cancelable without penalty), the revenue we recognize corresponds with our performance completed to date. We measure the progress of transfer based on the costs incurred to provide the service to the customer. The amount that we have the right to invoice for services performed aligns with this measure. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the fixed and variable revenue recognized corresponds to the amount we have the right to invoice for services performed. In our DTS business segment, we combine equipment, maintenance, drivers, administrative services and additional services to provide customers with a single integrated dedicated transportation solution. DTS transportation solutions are customized for our customers based on a transportation analysis to create a logistics design that includes the routing and scheduling of vehicles, the efficient use of vehicle capacity and overall asset utilization. In our SCS business, we offer a broad range of logistics management services designed to optimize the supply chain and address the key business requirements of our customers. SCS operates by industry verticals (Automotive, Technology and Healthcare, Consumer Packaged Goods and Retail, and Industrial) to enable our teams to focus on the specific needs of their customers. Our SCS services are supported by a variety of information technology and engineering solutions. Revenues from DTS and SCS service contracts are recognized as services are rendered in accordance with contract terms, which typically include (1) fixed and variable billing rates, (2) cost-plus billing rates (input method based on actual costs incurred to perform services and a contracted mark-up), or (3) variable only or fixed only billing rates for the services. Our billing structure aligns with the value transferred to our customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Our customers contract us to provide an integrated service of transportation or supply chain logistical services into a single transportation or supply chain solution. Therefore, we typically account for DTS and SCS service contracts as one performance obligation satisfied over time. Less commonly, however, we may promise to provide distinct goods or services within a contract, in which case we separate the contract into more than one performance obligation. If a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We infrequently sell standard products with observable standalone selling prices. More frequently, we sell a customized customer-specific solution, and in these cases we use the expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. Fuel Fuel services include fuel services revenue from our FMS business segment. We provide our FMS customers with access to fuel at our maintenance facilities across the United States and Canada. Fuel services revenue is invoiced to customers at contracted rates, separate from other services being provided in other contracts, or at retail prices. Revenue from fuel services is recognized when fuel is delivered to customers. As a practical expedient, we do not disclose information about remaining performance obligations for these contracts since the revenue recognized corresponds to the amount we have the right to invoice for services performed. Fuel is largely a pass-through to our customers, for which we realize minimal changes in profitability during periods of steady market fuel prices. However, profitability may be positively or negatively impacted by sudden increases or decreases in market fuel prices during a short period of time as customer pricing for fuel services is established based on trailing market fuel costs. Significant Judgments and Estimates Our contracts with customers often include promises to transfer multiple services to a customer. Determining whether these services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Our DTS and SCS services depend on a significant level of integration and interdependency between the services provided within a contract. Judgment is required to determine whether each service is considered distinct and accounted for separately, or not distinct and accounted for together as a significant integrated service and recognized over time. In making this judgment, we consider whether the services provided, within the context of the contract, represent the transfer of individual services or a combined bundle of services to the customer. This involves evaluating the promises to a customer within a contract to identify the services that need to be performed in order for the promise to be satisfied. Since multiple services that occur at different points in time during a contract may be accounted for as an integrated service, judgment is required to assess the pattern of delivery to our customers. Our judgments on collectibility are initially established when a business relationship with a customer is initiated and is continuously monitored as services are provided. We have a credit rating system based on internally developed standards and ratings provided by third parties. Our credit rating system, along with monitoring for delinquent payments, allows us to make decisions as to whether collectibility is probable. Factors considered during this process include historical payment trends, industry risks, liquidity of the customer, years in business, and judgments, liens or bankruptcies. When collectibility is not considered reasonably assured (typically when a customer is 120 days past due), revenue is not recognized until it is determined that the customer has the ability and intention to pay. Contract Balances We do not have material contract assets as we generally invoice customers as we perform services. Contract receivables are recorded in “Receivables, net” in the Consolidated Balance Sheets. Payment terms vary by contract type, although terms generally include a requirement of payment within 30 to 90 days. As a practical expedient, we do not assess whether a contract has a significant financing component as the period between the receipt of customer payment and the transfer of service to the customer is less than a year. Our contract liabilities consist of deferred revenue. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts that are refundable. We classify deferred revenue as a current liability as we expect to recognize this revenue within 12 months. Revenue is recognized upon satisfaction of the performance obligation. Costs to Obtain and Fulfill a Contract Our incremental direct costs of obtaining and fufilling a contract, which primarily consist of sales commissions and start-up costs, are capitalized and amortized over the period of contract performance or a longer period, generally the estimated life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. We capitalize incremental direct costs of obtaining a contract that i) relate directly to the contract and ii) are expected to be recovered through revenue generated under the contract. This requires an evaluation of whether the costs are incremental and would not have occurred absent the customer contract. The current and noncurrent portions of incremental costs to obtain and fulfill a contract are included in “Prepaid expenses and other current assets” and “Direct financing leases and other assets” respectively, in the Consolidated Balance Sheets. Costs are amortized in “Selling, general and administrative expenses” in the Consolidated Statements of Earnings on a straight-line basis over the expected period of benefit.
Accounts Receivable Allowance	Accounts Receivable Allowance We maintain an allowance for uncollectible customer receivables and an allowance for billing adjustments related to certain discounts and other customer concessions. Estimates are updated regularly based on historical experience of bad debts and billing adjustments processed, current collection trends and aging analysis. Accounts are charged against the allowance when determined to be uncollectible.
Inventories	Inventories Inventories, which consist primarily of fuel, tires and vehicle parts, are valued at the lower of cost using the weighted-average cost basis or net realizable value.
Revenue Earning Equipment, Operating Property and Equipment, and Depreciation	Revenue Earning Equipment, Operating Property and Equipment, and Depreciation Revenue earning equipment, comprised of vehicles and operating property and equipment are initially recorded at cost inclusive of vendor rebates. Revenue earning equipment and operating property and equipment under capital lease are initially recorded at the lower of the present value of minimum lease payments or fair value. Vehicle repairs and maintenance that extend the life or increase the value of a vehicle are capitalized, whereas ordinary maintenance and repairs (including tire replacement or repair) are expensed as incurred. Direct costs incurred in connection with developing or obtaining internal-use software are capitalized. Costs incurred during the preliminary software development project stage, as well as maintenance and training costs, are expensed as incurred. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the term of the related lease, which may include one or more option renewal periods where failure to exercise such options would result in an economic penalty in such amount that renewal appears, at the inception of the lease, to be reasonably assured. If a substantial additional investment is made in a leased property during the term of the lease, we re-evaluate the lease term to determine whether the investment, together with any penalties related to non-renewal, would constitute an economic penalty in such amount that renewal appears to be reasonably assured. Provision for depreciation is computed using the straight-line method on all depreciable assets. Depreciation expense has been recognized throughout the Consolidated Statement of Earnings depending on the nature of the related asset. We periodically review and adjust, as appropriate, the residual values and useful lives of revenue earning equipment. Our review of the residual values and useful lives of revenue earning equipment is established with a long-term view considering historical market price changes, current and expected future market price trends, expected lives of vehicles and extent of alternative uses. Factors that could cause actual results to materially differ from estimates include, but are not limited to, unforeseen changes in technology innovations. In addition, we also monitor market trends throughout the year and assess residual values of vehicles expected to be sold in the near term and may adjust residual values for these vehicles. We routinely dispose of used revenue earning equipment as part of our FMS business. Revenue earning equipment held for sale is stated at the lower of carrying amount or fair value less costs to sell. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. Fair value is determined based upon recent market prices obtained from our own sales experience for sales of each class of similar assets and vehicle condition, as well as anticipated market price changes. Losses on vehicles held for sale for which carrying values exceeded fair value are recognized at the time they arrive at our used truck centers and are presented within "Used vehicle sales, net" in the Consolidated Statements of Earnings. Gains and losses on sales of operating property and equipment are reflected in “Miscellaneous income, net.”
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill on acquisitions represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets. Factors that contribute to the recognition of goodwill in our acquisitions include (i) expected growth rates and profitability of the acquired companies, (ii) securing buyer-specific synergies that increase revenue and profits and are not otherwise available to market participants, (iii) significant cost savings opportunities, (iv) experienced workforce and (v) our strategies for growth in sales, income and cash flows. Goodwill and other intangible assets with indefinite useful lives are not amortized, but rather, are tested for impairment at least annually (October 1 st ). In evaluating goodwill for impairment, we have the option to first assess qualitative factors to determine whether further impairment testing is necessary. Among other relevant events and circumstances that affect the fair value of reporting units, we consider individual factors such as macroeconomic conditions, changes in our industry and the markets in which we operate, as well as our reporting units' historical and expected future financial performance. If we conclude that it is more likely than not that a reporting unit's fair value is less than its carrying value or we bypass the optional qualitative assessment, recoverability is assessed by comparing the fair value of the reporting unit with its carrying amount. If a reporting unit exceeds its fair value, we will measure any goodwill impairment losses as the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Our valuation of fair value for certain reporting units is determined based on a discounted future cash flow model that uses five years of projected cash flows and a terminal value based on growth assumptions. For certain reporting units, fair value is determined based on the application of current trading multiples for comparable publicly-traded companies and the historical pricing multiples for comparable merger and acquisition transactions that have occurred in our industry. Rates used to discount cash flows are dependent upon interest rates and the cost of capital based on our industry and capital structure, adjusted for equity and size risk premiums based on market capitalization. Estimates of future cash flows are dependent on our knowledge and experience about past and current events and assumptions about conditions we expect to exist, including long-term growth rates, capital requirements and useful lives. Our estimates of cash flows are also based on historical and future operating performance, economic conditions and actions we expect to take. In addition to these factors, our DTS and SCS reporting units are dependent on several key customers or industry sectors. The loss of a key customer may have a significant impact to our DTS or SCS reporting units, causing us to assess whether or not the event resulted in a goodwill impairment loss. In making our assessments of fair value, we rely on our knowledge and experience about past and current events and assumptions about conditions we expect to exist in the future. These assumptions are based on a number of factors, including future operating performance, economic conditions, actions we expect to take and present value techniques. There are inherent uncertainties related to these factors and management’s judgment in applying them to the analysis of goodwill impairment. It is possible that assumptions underlying the impairment analysis will change in such a manner that impairment in value may occur in the future. Identifiable intangible assets not subject to amortization are assessed for impairment using a similar process used to evaluate goodwill as described above. Intangible assets with finite lives are amortized over their respective estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment using a similar process used to evaluate long-lived assets described below.
Impairment of Long-Lived Assets Other than Goodwill	Impairment of Long-Lived Assets Other than Goodwill Long-lived assets held and used, including revenue earning equipment, operating property and equipment and intangible assets with finite lives, are tested for recoverability when circumstances indicate that the carrying amount of assets may not be recoverable. Recoverability of long-lived assets is evaluated by comparing the carrying value of an asset or asset group to management’s best estimate of the undiscounted future operating cash flows (excluding interest charges) expected to be generated by the asset or asset group. If these comparisons indicate that the carrying value of the asset or asset group is not recoverable, an impairment loss is recognized for the amount by which the carrying value of the asset or asset group exceeds fair value. Fair value is determined by a quoted market price, if available, or an estimate of projected future operating cash flows, discounted using a rate that reflects the related operating segment’s average cost of funds. Long-lived assets to be disposed of, including revenue earning equipment and operating property and equipment, are reported at the lower of carrying amount or fair value less costs to sell.
Self-Insurance Accruals	Self-Insurance Accruals We retain a portion of the accident risk under auto liability, workers’ compensation and other insurance programs. Under our insurance programs, we retain the risk of loss in various amounts, generally up to $3 million on a per occurrence basis. Self-insurance accruals are based primarily on an actuarially estimated, undiscounted cost of claims, which includes claims incurred but not reported. Such liabilities are based on estimates. Historical loss development factors are utilized to project the future development of incurred losses, and these amounts are adjusted based upon actual claim experience and settlements. While we believe that the amounts are adequate, there can be no assurance that changes to our actuarial estimates may not occur due to limitations inherent in the estimation process. Changes in the actuarial estimates of these accruals are charged or credited to earnings in the period determined. Amounts estimated to be paid within the next year have been classified as “Accrued expenses and other current liabilities” with the remainder included in “Other non-current liabilities” in our Consolidated Balance Sheets. We also maintain additional insurance at certain amounts in excess of our respective underlying retention. Amounts recoverable from insurance companies are not offset against the related accrual as our insurance policies do not extinguish or provide legal release from the obligation to make payments related to such risk-related losses. Amounts expected to be received within the next year from insurance companies have been included within “Receivables, net” with the remainder included in “Direct financing leases and other assets” and are recognized only when realization of the claim for recovery is considered probable. The accrual for the related claim has been classified within “Accrued expenses and other current liabilities” if it is estimated to be paid within the next year, otherwise it has been classified in “Other non-current liabilities” in our Consolidated Balance Sheets.
Income Taxes	Income Taxes Our provision for income taxes is based on reported earnings before income taxes. Deferred taxes are recognized for the future tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, using tax rates in effect for the years in which the differences are expected to reverse. Subject to the unique provisions of SEC Staff Accounting Bulletin No. 118 (SAB 118) related to the effects of the 2017 Tax Cuts and Jobs Act, the effects of changes in tax laws on deferred tax balances are recognized in the period the new legislation is enacted. Valuation allowances are recognized to reduce deferred tax assets to the amount that is more likely than not to be realized. In assessing the likelihood of realization, management considers estimates of future sources of taxable income. We calculate our current and deferred tax position based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. We are subject to tax audits in numerous jurisdictions in the U.S. and around the world. Tax audits by their very nature are often complex and can require several years to complete. In the normal course of business, we are subject to challenges from the Internal Revenue Service (IRS) and other tax authorities regarding amounts of taxes due. These challenges may alter the timing or amount of taxable income or deductions, or the allocation of income among tax jurisdictions. As part of our calculation of the provision for income taxes on earnings, we determine whether the benefits of our tax positions are at least more likely than not of being sustained upon audit based on the technical merits of the tax position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Such accruals require management to make estimates and judgments with respect to the ultimate outcome of a tax audit. Actual results could vary materially from these estimates. We adjust these reserves as well as the impact of any related interest and penalties in light of changing facts and circumstances, such as the progress of a tax audit. Interest and penalties related to income tax exposures are recognized as incurred and included in "provision for (benefit from) income taxes” in our Consolidated Statements of Earnings. Accruals for income tax exposures, including penalties and interest, expected to be settled within the next year are included in “Accrued expenses and other current liabilities” with the remainder included in “Other non-current liabilities” in our Consolidated Balance Sheets. The federal benefit from state income tax exposures is included in “Deferred income taxes” in our Consolidated Balance Sheets.
Severance and Contract Termination Costs	Severance and Contract Termination Costs We recognize liabilities for severance and contract termination costs based upon the nature of the cost to be incurred. For involuntary separation plans that are completed within the guidelines of our written involuntary separation plan, we recognize the liability when it is probable and reasonably estimable. For one-time termination benefits, such as additional severance pay or benefit payouts, and other exit costs, such as contract termination costs, the liability is measured and recognized initially at fair value in the period in which the liability is incurred, with subsequent changes to the liability recognized as adjustments in the period of change. Severance related to position eliminations that are part of a restructuring plan is included in "Restructuring and other charges , net” in the Consolidated Statements of Earnings. Severance costs that are not part of a restructuring plan are recognized in the period incurred as a direct cost of revenue or within “Selling, general and administrative expenses,” in the Consolidated Statements of Earnings depending upon the nature of the eliminated position.
Environmental Expenditures	Environmental Expenditures We recognize liabilities for environmental assessments and/or cleanup when it is probable a loss has been incurred and the costs can be reasonably estimated. Environmental liability estimates may include costs such as anticipated site testing, consulting, remediation, disposal, post-remediation monitoring and legal fees, as appropriate. The liability does not reflect possible recoveries from insurance companies or reimbursement of remediation costs by state agencies, but does include estimates of cost sharing with other potentially responsible parties. Estimates are not discounted, as the timing of the anticipated cash payments is not fixed or readily determinable. Subsequent adjustments to initial estimates are recognized as necessary based upon additional information developed in subsequent periods. In future periods, new laws or regulations, advances in remediation technology and additional information about the ultimate remediation methodology to be used could significantly change our estimates. Claims for reimbursement of remediation costs are recognized when recovery is deemed probable.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities We use financial instruments, including forward exchange contracts and swaps to manage our exposures to movements in interest rates and foreign currency exchange rates. The use of these financial instruments modifies the exposure of these risks with the intent to reduce the risk or cost to us. We do not enter into derivative financial instruments for trading purposes. We limit our risk that counterparties to the derivative contracts will default and not make payments by entering into derivative contracts only with counterparties comprised of large banks and financial institutions that meet established credit criteria. We do not expect to incur any losses as a result of counterparty default. On the date a derivative contract is executed, we formally document, among other items, the intended hedging designation and relationship, along with the risk management objectives and strategies for entering into the derivative contract. We also formally assess, both at inception and on an ongoing basis, whether the derivatives we used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Cash flows from derivatives that are accounted for as hedges are classified in the Consolidated Statements of Cash Flows in the same category as the items being hedged. When it is determined that a derivative is not highly effective as a hedge or that it has ceased to be a highly effective hedge, we discontinue hedge accounting prospectively. The hedging designation may be classified as one of the following: No Hedging Designation. The unrealized gain or loss on a derivative instrument not designated as an accounting hedging instrument is recognized immediately in earnings. Fair Value Hedge. A hedge of a recognized asset or liability or an unrecognized firm commitment is considered a fair value hedge. For fair value hedges, both the effective and ineffective portions of the changes in the fair value of the derivative, along with the gain or loss on the hedged item that is attributable to the hedged risk, are both recognized in earnings. Cash Flow Hedge. A hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability is considered a cash flow hedge. The effective portion of the change in the fair value of a derivative that is declared as a cash flow hedge is recognized net of tax in “Accumulated other comprehensive loss” until earnings are affected by the variability in cash flows of the designated hedged item.
Foreign Currency Translation	Foreign Currency Translation Our foreign operations generally use local currency as their functional currency. Assets and liabilities of these operations are translated at the exchange rates in effect on the balance sheet date. Items in the Consolidated Statements of Earnings are translated at the average exchange rates for the year. The impact of currency fluctuations on our balance sheet is presented in “Changes in cumulative translation adjustment and other” in the Consolidated Statements of Comprehensive Income. Upon sale or upon complete or substantially complete liquidation of an investment in a foreign operation, the currency translation adjustment attributable to that operation is removed from accumulated other comprehensive loss and is reported as part of the gain or loss on sale or liquidation of the investment for the period during which the sale or liquidation occurs. Gains and losses resulting from foreign currency transactions are recognized in “Miscellaneous income, net” in the Consolidated Statements of Earnings.
Share-Based Compensation	Share-Based Compensation The fair value of stock option awards and nonvested stock awards other than restricted stock units (RSUs), is expensed on a straight-line basis over the vesting period of the awards. RSUs are expensed in the year they are granted. Windfall tax benefits and tax shortfalls are charged directly to income tax expense.
Earnings Per Share	Earnings Per Share Earnings per share is computed using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Restricted stock units are considered participating securities since the share-based awards contain a non-forfeitable right to dividend equivalents irrespective of whether the awards ultimately vest. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period. Diluted earnings per common share reflect the dilutive effect of potential common shares from stock options and other nonparticipating nonvested stock. The dilutive effect of stock options is computed using the treasury stock method, which assumes any proceeds that could be obtained upon the exercise of stock options would be used to purchase common shares at the average market price for the period. The assumed proceeds include the purchase price the grantee pays and the unrecognized compensation expense at the end of each period.
Share Repurchases	Share Repurchases Repurchases of shares of common stock are made periodically in open-market transactions and are subject to market conditions, legal requirements and other factors. The cost of share repurchases is allocated between common stock and retained earnings based on the amount of additional paid-in capital at the time of the share repurchase.
Defined Benefit Pension and Postretirement Benefit Plans	Defined Benefit Pension and Postretirement Benefit Plans The funded status of our defined benefit pension plans and postretirement benefit plans are recognized in the Consolidated Balance Sheets. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. The fair value of plan assets represents the current market value of contributions made to irrevocable trusts, held for the sole benefit of participants, which are invested by the trusts. For defined benefit pension plans, the benefit obligation represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. For postretirement benefit plans, the benefit obligation represents the actuarial present value of postretirement benefits attributed to employee services already rendered. Overfunded plans, with the fair value of plan assets exceeding the benefit obligation, are aggregated and reported as a prepaid pension asset. Underfunded plans, with the benefit obligation exceeding the fair value of plan assets, are aggregated and reported as a pension and postretirement benefit liability. The current portion of pension and postretirement benefit liabilities represents the actuarial present value of benefits payable within the next year exceeding the fair value of plan assets (if funded), measured on a plan-by-plan basis. These liabilities are recognized in “Accrued expenses and other current liabilities” in the Consolidated Balance Sheets. Pension and postretirement benefit expense includes service cost, interest cost, and expected return on plan assets (if funded). Pension costs include amortization of net prior service costs loss and net actuarial loss. Postretirement costs include amortization of net prior service credit and net actuarial gain. Service cost represents the actuarial present value of participant benefits earned in the current year. The expected return on plan assets represents the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the obligation. Prior service cost represents the impact of plan amendments. Net actuarial losses arise as a result of differences between actual experience and assumptions or as a result of changes in actuarial assumptions. Net actuarial gain/loss and prior service cost/credit not recognized as a component of pension and postretirement benefit expense as they arise are recognized as "Change in net actuarial loss and prior service cost, net of tax" in the Consolidated Statements of Comprehensive Income. These pension and postretirement items are subsequently amortized as a component of pension and postretirement benefit expense over the remaining service period, if the majority of the employees are active, otherwise over the remaining life expectancy, provided such amounts exceed thresholds based upon the benefit obligation or the value of plan assets. The measurement of benefit obligations and pension and postretirement benefit expense is based on estimates and assumptions approved by management. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain assumptions, including estimates of discount rates, expected return on plan assets, rate of compensation increases, interest rates and mortality rates.
Fair Value Measurements	Fair Value Measurements We carry various assets and liabilities at fair value in the Consolidated Balance Sheets. The most significant assets and liabilities are vehicles held for sale, which are stated at the lower of carrying amount or fair value less costs to sell, investments held in Rabbi Trusts and derivatives. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are classified based on the following fair value hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or model-derived valuations or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs for the asset or liability. These inputs reflect our own assumptions about the assumptions a market participant would use in pricing the asset or liability. When available, we use unadjusted quoted market prices to measure fair value and classify such measurements within Level 1. If quoted prices are not available, fair value is based upon model-driven valuations that use current market-based or independently sourced market parameters such as interest rates and currency rates. Items valued using these models are classified according to the lowest level input or value driver that is significant to the valuation. The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the immediate or short-term maturities of these financial instruments. Revenue earning equipment held for sale is measured at fair value on a nonrecurring basis and is stated at the lower of carrying amount or fair value less costs to sell. Investments held in Rabbi Trusts and derivatives are carried at fair value on a recurring basis. Investments held in Rabbi Trusts include exchange-traded equity securities and mutual funds. Fair values for these investments are based on quoted prices in active markets. For derivatives, fair value is based on model-driven valuations using the LIBOR rate or observable forward foreign exchange rates, which are observable at commonly quoted intervals for the full term of the financial instrument.
New Accounting Pronouncements	Cloud Computing Arrangements In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Topic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. ASU 2018-15 aligns the accounting for costs incurred to implement a CCA that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Entities are permitted to apply either a retrospective or prospective approach to adopt the guidance. We are currently evaluating the impact of the adoption of this update on our consolidated financial position, results of operations, and cash flows. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits - but does not require - companies to reclassify stranded tax effects caused by the 2017 Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they elected to make the reclassification or not. The standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. We adopted this standard using the aggregate portfolio approach and elected to reclassify $101 million of tax benefits resulting from the federal income tax rate change, net of associated state tax effect, from accumulated other comprehensive loss to retained earnings as of the beginning of 2018. This standard did not impact our results of operations or cash flows. Share-Based Compensation In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting , which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The amendments in this update are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017, with early adoption permitted. We adopted the standard during the first quarter of 2018 and it did not have an impact on our consolidated financial position, results of operations, or cash flows. Business Combinations In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The objective of the update is to add guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses . The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. Companies must use a prospective approach to adopt ASU 2017-01, which was effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We prospectively adopted this standard in the first quarter of 2018. The new standard did not have an impact to the Company's consolidated financial statements during 2018. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued additional guidance related to the statement of cash flows, which requires companies to explain the change during the period in the total of cash, cash equivalents, and restricted cash or restricted cash equivalents. The standard was effective January 1, 2018, with early adoption permitted. We adopted the standard during the first quarter of 2018. As a result of this update, restricted cash is included within cash and cash equivalents on our statements of consolidated cash flows. We did not have restricted cash as of December 31, 2018. As of December 31, 2017, we had restricted cash of $5 million in prepaid expenses and other current assets associated with our like-kind exchange program for certain of our U.S. based revenue earning equipment. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets out the principles for the identification, measurement, recognition, presentation and disclosure of leases. The FASB issued a number of subsequent updates to the standard. The standard impacts the accounting for both lessors and lessees. We will adopt the standard effective January 1, 2019, using the modified retrospective transition method and initial application date of January 1, 2017. We do not intend to elect the allowable transition practical expedients package and are therefore required to reassess as of January 1, 2017, and throughout 2017 and 2018, 1) whether contracts contain leases, 2) lease classification, and 3) initial direct costs. For our facility and equipment leases, we intend to elect the practical expedient for lessees, to combine lease and non-lease components. We do not intend to utilize the practical expedient that allows the use of hindsight by lessees and lessors in determining the lease term or in assessing impairment of right-of-use assets. The new standard requires lessors to identify and evaluate the lease and non-lease components in arrangements containing a lease, provides clarification on the scope of non-lease components and provides more guidance on how to identify and separate the components. From a lessor perspective, the adoption of the new lease standard will primarily impact our ChoiceLease product line, which includes a vehicle lease as well as maintenance and other services. The lease component will be accounted for using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. We will generally continue to recognize revenue for the lease component of the product line on a straight-line basis. The non-lease component will be accounted for in accordance with revenue guidance under Topic 606. Revenue from maintenance services will be recognized consistent with the estimated pattern of maintenance costs, which will generally result in the recognition of a contract liability for some portion of the customer's payments allocated to the service component of the arrangement. Maintenance services are typically not performed evenly over the life of a ChoiceLease contract. We are implementing a lessor revenue recognition system, which will both assist in separating the lease and non-lease components, primarily maintenance services, as well as account for the pattern of revenue recognition of the separate lease and non-lease components under our lessor arrangements. Upon the adoption of the lease standard, we expect to record a material cumulative-effect adjustment to retained earnings as of January 1, 2017, to recognize deferred revenue, net of the deferred tax impact, related to the maintenance services. We continue to evaluate the impact of adoption of the lessor requirements of this standard on our results of operations; however, such requirements may have a significant impact on our results of operations due to the change to the timing and pattern of recognition of income. The adoption of the lessor requirements will have no impact on our cash flows. The standard requires lessees to classify leases as either finance or operating leases. This classification will determine whether the related expense will be recognized based on asset amortization and interest on the obligation (finance leases) or on a straight-line basis over the term of the lease (operating lease). A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. We are implementing a lease management system to track and record the right-of-use asset and liability for all leases with a term of greater than 12 months. Upon the adoption of the lease standard, we will record right-of-use assets and lease liabilities as of January 1, 2017, and retrospectively adjust the results of operations and financial position throughout 2017 and 2018 for the effects of the new standard. The difference between the right-of-use assets and lease liabilities, net of the deferred tax impact, will be recorded as cumulative-effect adjustment to retained earnings. We do not expect the lessee requirements to have a material impact on our consolidated financial position, results of operations or cash flows. We are in the process of completing additional process changes and updating internal controls to ensure the new reporting and disclosure requirements are met upon adoption. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which together with related, subsequently issued guidance, requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted Topic 606 in the first quarter of 2018 using the full retrospective method, which required us to retrospectively adjust each prior reporting period presented. Upon adoption of Topic 606, we applied the standard’s practical expedient that permits the omission of disclosures of the prior period allocation of the transaction price to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of the new revenue recognition standard impacted our previously reported Consolidated Statements of Operations and Comprehensive Income results as follows (in millions, except per share amounts): Year ended December 31, 2017 Year ended December 31, 2016 New Revenue New Revenue As Previously Standard As Previously Standard Reported Adjustments As Revised Reported Adjustments As Revised Services revenue (1) $ 3,571.4 (32.5 ) 3,538.9 $ 3,152.3 (28.9 ) 3,123.4 Total revenues 7,329.6 (32.5 ) 7,297.1 6,787.0 (28.9 ) 6,758.1 Cost of services (1) 3,003.3 (32.5 ) 2,970.8 2,603.0 (28.9 ) 2,574.1 Selling, general and administrative expenses 872.0 (0.8 ) 871.2 805.1 (0.9 ) 804.2 Earnings from continuing operations before income taxes 313.8 0.8 314.5 406.4 0.9 407.3 Provision for income taxes (477.2 ) (0.5 ) (477.7 ) 141.7 0.3 142.0 Earnings from continuing operations 791.0 1.3 792.3 264.6 0.6 265.2 Net earnings 790.6 1.3 791.8 262.5 0.6 263.1 Comprehensive income 917.1 1.3 918.4 141.2 0.6 141.8 Earnings per common share - Basic Continuing operations $ 14.98 0.02 15.00 $ 4.98 0.01 4.99 Earnings per common share - Diluted Continuing operations $ 14.87 0.03 14.90 $ 4.94 0.01 4.95 ———————————— (1) Amount includes $33 million and $ 29 million for the years ended December 31, 2017 and 2016, respectively, related to correction of a prior period error. We historically accounted for certain freight brokerage agreements as a principal and presented revenue and costs related to subcontracted transportation on a gross basis in our financial statements. In adopting Topic 606, we reviewed and evaluated our existing revenue contracts and determined that certain of our freight brokerage agreements should have historically been presented on a net basis as an agent. We evaluated the materiality of this revision, quantitatively and qualitatively. We concluded it was not material to any of our previously issued consolidated financial statements and correction as an out of period adjustment in the current period was not material. Adoption of the new revenue recognition standard impacted our previously reported Consolidated Balance Sheet as follows (in millions): December 31, 2017 New Revenue As Previously Standard Reported Adjustment As Revised Prepaid expenses and other current assets $ 159.5 0.6 160.1 Total current assets 1,322.3 0.6 1,322.9 Direct financing leases and other assets 559.5 11.2 570.7 Total assets 11,452.2 11.8 11,464.0 Accrued expenses and other current liabilities 587.4 2.2 589.6 Total current liabilities 2,012.8 2.2 2,015.0 Other non-current liabilities 812.1 0.5 812.6 Deferred income taxes 1,208.8 2.3 1,211.1 Total liabilities 8,617.2 5.1 8,622.3 Retained earnings 2,465.0 6.7 2,471.7 Total shareholders' equity 2,835.0 6.7 2,841.7 Total liabilities and shareholders' equity 11,452.2 11.7 11,464.0

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table provides the preliminary purchase price allocation to the assets and the liabilities assumed as of the closing date of the MXD acquisition. (In thousands) Assets: Operating property and equipment $ 9,803 Goodwill 63,424 Customer relationships and other intangibles 23,651 Other assets, primarily accounts receivable 31,492 Deferred income taxes 12,737 141,107 Liabilities: Accrued liabilities (18,107 ) Other liabilities, primarily accounts payable (5,052 ) Net assets acquired $ 117,948

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following tables disaggregate our revenue by primary geographical market and industry: Primary Geographical Markets Year ended December 31, 2018 FMS DTS SCS Eliminations Total (In thousands) United States $ 4,618,012 1,333,313 1,990,485 (554,764 ) 7,387,046 Canada 301,741 — 185,655 (22,705 ) 464,691 Europe 335,474 — — — 335,474 Mexico — — 198,148 — 198,148 Singapore — — 23,856 — 23,856 Total revenue $ 5,255,227 1,333,313 2,398,144 (577,469 ) 8,409,215 Year ended December 31, 2017 FMS DTS SCS Eliminations Total (In thousands) United States $ 4,130,528 1,095,645 1,569,957 (449,946 ) 6,346,184 Canada 281,668 — 166,078 (19,568 ) 428,178 Europe 321,375 — — — 321,375 Mexico — — 170,525 — 170,525 Singapore — — 30,792 — 30,792 Total revenue $ 4,733,571 1,095,645 1,937,352 (469,514 ) 7,297,054 Year ended December 31, 2016 FMS DTS SCS Eliminations Total (In thousands) United States $ 3,952,015 1,020,543 1,302,730 (411,618 ) 5,863,670 Canada 264,759 — 139,159 (16,337 ) 387,581 Europe 339,420 — — — 339,420 Mexico — — 139,176 — 139,176 Singapore — — 28,291 — 28,291 Total revenue $ 4,556,194 1,020,543 1,609,356 (427,955 ) 6,758,138
Disaggregation of Revenue	Our SCS business segment includes revenue from the below industries: Year ended December 31, 2018 2017 2016 (In thousands) Automotive $ 947,408 783,640 724,082 Technology and healthcare 480,026 387,252 283,836 CPG and retail 766,765 535,689 452,096 Industrial and other 203,945 230,771 149,342 Total revenue $ 2,398,144 1,937,352 1,609,356

Restructuring Charges and Fees,

Restructuring Charges and Fees, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Components of restructuring and other (recoveries) charges, net	The following table summarizes the activities within, and components of, restructuring liabilities for 2018 , 2017 and 2016 (in thousands): Employee Termination Costs Balance as of December 31, 2015 $ 12,333 Workforce reduction charges 5,074 Utilization (1) (10,129 ) Balance as of December 31, 2016 7,278 Workforce reduction charges 13,320 Utilization (1) (7,524 ) Balance as of December 31, 2017 13,074 Workforce reduction charges 8,366 Utilization (1) (13,845 ) Balance as of December 31, 2018 (2) $ 7,595 _________________ Note: The restructuring liabilities shown above are included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets. (1) Principally represents cash payments. (2) The majority of the balance remaining for employee termination costs is expected to be paid by the end of 2019.
Restructuring and other (recoveries) charges, net that related to each segment	The following table presents the restructuring and other charges, net that related to each segment in 2018, 2017, and 2016. Years ended December 31, 2018 2017 2016 (In thousands) Fleet Management Solutions $ 16,785 2,995 3,550 Dedicated Transportation Solutions — 771 22 Supply Chain Solutions 7,668 2,278 278 Central Support Services 654 15,361 1,224 Total $ 25,107 21,405 5,074

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of receivables	December 31, 2018 2017 (In thousands) Trade $ 1,087,219 898,876 Direct financing leases 83,962 81,996 Other, primarily warranty and insurance 65,427 43,883 1,236,608 1,024,755 Allowance (17,182 ) (13,847 ) Total $ 1,219,426 1,010,908

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other current assets	December 31, 2018 2017 (In thousands) Restricted cash $ — 4,674 Prepaid vehicle licenses 69,434 62,772 Prepaid operating taxes 16,461 14,320 Prepaid sales commission 23,842 13,599 Prepaid insurance 16,423 15,688 Start-up costs 9,463 8,001 Prepaid maintenance 10,903 6,171 Prepaid vehicles 12,814 947 Other 42,286 33,922 Total $ 201,626 160,094

Revenue Earning Equipment, Net

Revenue Earning Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue Earning Equipment [Abstract]
Summary of revenue earning equipment	Estimated Useful Lives December 31, 2018 December 31, 2017 Cost Accumulated Depreciation Net (1) Cost Accumulated Depreciation Net (1) (In years) (In thousands) Held for use: ChoiceLease 3 — 12 $ 10,955,447 (3,694,104 ) 7,261,343 10,002,981 (3,367,431 ) 6,635,550 Commercial rental 4.5 — 12 3,152,908 (1,047,346 ) 2,105,562 2,616,706 (1,001,965 ) 1,614,741 Held for sale 467,093 (336,028 ) 131,065 403,229 (298,258 ) 104,971 Total $ 14,575,448 (5,077,478 ) 9,497,970 13,022,916 (4,667,654 ) 8,355,262 _______________ (1) Revenue earning equipment, net includes vehicles under capital leases of $18 million , less accumulated depreciation of $10 million , at December 31, 2018 and $29 million , less accumulated depreciation of $14 million , at December 31, 2017 .
Fair value, assets measured on recurring and nonrecurring basis	The following table presents our assets that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Total Losses (2) December 31, Year ended December 31, 2018 2017 2018 2017 Assets held for sale: (In thousands) (In thousands) Revenue earning equipment: (1) Trucks $ 44,325 33,208 $ 40,220 30,812 Tractors 35,397 27,976 9,030 21,261 Trailers 1,507 2,100 4,478 5,992 Total assets at fair value $ 81,229 63,284 $ 53,728 58,065 ______________ (1) Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where net book values exceeded fair values and fair value adjustments were recorded. The net book value of assets held for sale not exceeding fair value was $50 million and $42 million as of December 31, 2018 and 2017 , respectively. (2) Total losses represent fair value adjustments for all vehicles reclassified to held for sale throughout the period for which fair value was less than net book value.
Gain and losses revenue earning equipment	he components of used vehicle sales, net were as follows: Twelve months ended December 31, 2018 2017 2016 (In thousands) Gains on vehicle sales, net $ (31,989 ) (40,824 ) (68,387 ) Losses from fair value adjustments 53,728 58,065 67,415 Used vehicle sales, net $ 21,739 17,241 (972 )

Operating Property And Equipm_2

Operating Property And Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of operating property and equipment	Estimated Useful Lives December 31, 2018 2017 (In years) (In thousands) Land — $ 235,272 217,885 Buildings and improvements 10 — 40 873,728 822,931 Machinery and equipment 3 — 10 845,460 797,084 Other 3 — 10 125,377 131,181 2,079,837 1,969,081 Accumulated depreciation (1,236,024 ) (1,192,377 ) Total $ 843,813 776,704

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of goodwill attributable to each reportable business segment	The carrying amount of goodwill attributable to each reportable business segment with changes therein was as follows: Fleet Management Solutions Dedicated Transportation Solutions Supply Chain Solutions Total (In thousands) Balance at January 1, 2017 Goodwill $ 228,832 40,808 146,353 415,993 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 218,510 40,808 127,454 386,772 Acquisitions (1) 6,506 — — 6,506 Foreign currency translation adjustment 1,838 — 388 2,226 Balance at December 31, 2017 Goodwill 237,176 40,808 146,741 424,725 Accumulated impairment losses (10,322 ) — (18,899 ) (29,221 ) 226,854 40,808 127,842 395,504 Acquisitions (1) 32,266 — 63,424 95,690 Foreign currency translation adjustment and other (1 ) — (474 ) (475 ) Balance at December 31, 2018 Goodwill 269,441 40,808 209,691 519,940 Accumulated impairment losses (25,835 ) — (18,899 ) (44,734 ) $ 243,606 40,808 190,792 475,206 ——————————— (1) See Note 3 , " Acquisitions ," in the Notes to Consolidated Financial Statements for additional information.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	December 31, 2018 2017 (In thousands) Indefinite lived intangible assets — Trade name $ 8,731 8,731 Finite lived intangible assets: Customer relationship intangibles 115,574 91,523 Other intangibles, primarily trade name 2,367 2,367 Accumulated amortization (65,048 ) (57,420 ) 52,893 36,470 Foreign currency translation adjustment (2,549 ) (2,271 ) Total $ 59,075 42,930

Direct Financing Leases and O_2

Direct Financing Leases and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Direct Financing Leases And Other Assets [Abstract]
Direct financing leases and other assets	December 31, 2018 2017 (In thousands) Direct financing leases, net $ 375,707 364,847 Investments held in rabbi trusts 59,403 61,425 Contract incentives 24,820 14,857 Insurance receivables 17,547 15,545 Start-up costs 13,156 13,750 Prepaid pension asset 51,133 58,708 Lease origination costs 9,769 9,387 Deferred tax asset 14,153 6,736 Noncurrent income tax receivable 11,067 — Other 29,874 25,451 Total $ 606,629 570,706 Investments held in Rabbi Trusts are assets measured at fair value on a recurring basis, all of which are considered Level 1 of the fair value hierarchy. The following table presents the asset classes at December 31, 2018 and 2017 : December 31, 2018 2017 (In thousands) Cash and cash equivalents $ 15,578 4,956 U.S. equity mutual funds 29,298 39,958 Foreign equity mutual funds 6,678 8,001 Fixed income mutual funds 7,849 8,510 Total Investments held in Rabbi Trusts $ 59,403 61,425

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	December 31, 2018 December 31, 2017 Accrued Expenses Non-Current Liabilities Total Accrued Expenses Non-Current Liabilities Total (In thousands) Salaries and wages $ 149,629 — 149,629 135,930 — 135,930 Deferred compensation 4,524 55,279 59,803 4,269 58,411 62,680 Pension benefits 3,754 456,979 460,733 3,863 412,417 416,280 Other postretirement benefits 1,387 18,097 19,484 1,481 19,760 21,241 Other employee benefits 28,370 — 28,370 28,636 3,279 31,915 Insurance obligations (1) 139,314 247,552 386,866 130,848 242,473 373,321 Operating taxes 100,399 — 100,399 95,848 — 95,848 Income taxes 3,491 18,477 21,968 8,550 23,888 32,438 Interest 39,522 — 39,522 30,003 — 30,003 Deposits, mainly from customers 80,401 3,390 83,791 69,903 3,638 73,541 Deferred revenue 15,810 — 15,810 14,004 — 14,004 Restructuring liabilities (2) 7,595 — 7,595 13,074 — 13,074 Other 56,297 50,172 106,469 53,194 48,776 101,970 Total $ 630,493 849,946 1,480,439 589,603 812,642 1,402,245 _________________ (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) The decrease in restructuring liabilities from December 31, 2017, principally represents a reduction in the accrual for employee termination costs. The majority of the balance remaining in restructuring liabilities is expected to be paid by the end of 2019.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Components of earnings from continuing operations before income taxes	The components of earnings from continuing operations before income taxes and the provision for (benefit from) income taxes from continuing operations were as follows: Years ended December 31, 2018 2017 2016 (In thousands) Earnings from continuing operations before income taxes: United States $ 356,644 254,355 344,614 Foreign 17,217 60,190 62,642 Total $ 373,861 314,545 407,256 Current tax (benefit) expense from continuing operations: Federal (1) $ (23,333 ) 6,752 2,731 State 6,862 9,360 7,713 Foreign 10,123 6,442 6,411 (6,348 ) 22,554 16,855 Deferred tax expense (benefit) from continuing operations: Federal 110,408 (510,172 ) 106,718 State 313 8,080 16,299 Foreign (6,119 ) 1,794 2,152 104,602 (500,298 ) 125,169 Provision for (benefit from) income taxes from continuing operations $ 98,254 (477,744 ) 142,024 _______________ (1) The 2018 current federal tax benefit includes the anticipated $22 million alternative minimum tax refunds (net of sequestration charge) generated by the 2017 Tax Cuts and Jobs Act.
Reconciliation of federal statutory tax rate with effective tax rate from continuing operations	A reconciliation of the federal statutory tax rate with the effective tax rate from continuing operations follows: Years ended December 31, 2018 2017 2016 (Percentage of pre-tax earnings) Federal statutory tax rate 21.0 35.0 35.0 Impact of one-time deemed repatriation 6.4 10.7 — Impact on deferred taxes for changes in tax rates (3.5 ) (196.4 ) (0.1 ) Additional deferred tax adjustments (1.6 ) — — State income taxes, net of federal income tax benefit 3.8 3.0 4.0 Foreign rates varying from federal statutory tax rate 0.1 (4.0 ) (3.3 ) Tax contingencies (1.1 ) (0.3 ) (0.2 ) Other, net 1.2 0.1 (0.5 ) Effective tax rate 26.3 (151.9 ) 34.9
Components of net deferred income tax liability	The components of the net deferred income tax liability were as follows: December 31, 2018 2017 (In thousands) Deferred income tax assets: Self-insurance accruals $ 82,042 75,198 Net operating loss carryforwards 414,143 171,053 Alternative minimum taxes (1) — 22,552 Accrued compensation and benefits 56,066 63,536 Federal benefit on state tax positions 11,027 11,950 Pension benefits 91,890 82,547 Miscellaneous other accruals 20,760 19,608 675,928 446,444 Valuation allowance (16,186 ) (18,667 ) 659,742 427,777 Deferred income tax liabilities: Property and equipment basis difference (1,936,372 ) (1,614,963 ) Other (13,940 ) (16,857 ) (1,950,312 ) (1,631,820 ) Net deferred income tax liability (2) $ (1,290,570 ) (1,204,043 ) ______________ (1) The current and noncurrent portions of the AMT credit refunds were reclassified to "Prepaid expenses and other current assets" and "Direct financing leases and other assets" in 2018. (2) Deferred tax assets of $14 million and $7 million have been included in "Direct financing leases and other assets" at December 31, 2018 and 2017 .
Summary of activity related to unrecognized tax benefits	The following table summarizes the activity related to unrecognized tax benefits (excluding the federal benefit received from state positions): December 31, 2018 2017 2016 (In thousands) Balance at January 1 $ 62,288 61,649 60,740 Additions based on tax positions related to the current year 3,885 3,971 3,855 Reductions due to lapse of applicable statutes of limitation (7,354 ) (3,332 ) (2,946 ) Gross balance at December 31 58,819 62,288 61,649 Interest and penalties 4,594 5,860 5,219 Balance at December 31 $ 63,413 68,148 66,868

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Net investment in direct financing and sales-type leases	The net investment in direct financing and sales-type leases consisted of: December 31, 2018 2017 (In thousands) Total minimum lease payments receivable $ 715,165 713,857 Less: Executory costs (206,181 ) (216,754 ) Minimum lease payments receivable 508,984 497,103 Less: Allowance for uncollectibles (475 ) (327 ) Net minimum lease payments receivable 508,509 496,776 Unguaranteed residuals 41,044 41,937 Less: Unearned income (89,884 ) (91,870 ) Net investment in direct financing and sales-type leases 459,669 446,843 Current portion (83,962 ) (81,996 ) Non-current portion $ 375,707 364,847
Credit risk profile by creditworthiness category of direct financing lease receivables	The following table presents the credit risk profile by creditworthiness category of our direct financing lease receivables at December 31, 2018 and 2017 : December 31, 2018 2017 (In thousands) Very low risk to low risk $ 194,383 201,434 Moderate 220,560 198,464 Moderately high to high risk 94,041 97,205 $ 508,984 497,103
Future minimum payments for leases	Future minimum payments for leases in effect at December 31, 2018 were as follows: As Lessor (1) As Lessee Operating Leases Direct Financing and Sales-Type Leases Operating Leases (In thousands) 2019 $ 1,192,786 115,075 94,697 2020 919,089 117,717 66,420 2021 673,875 96,879 43,985 2022 438,477 70,520 29,797 2023 262,677 44,437 13,701 Thereafter 231,963 64,356 29,216 Total $ 3,718,867 508,984 277,816 ____________________ (1) Amounts do not include contingent rentals, which may be received under certain leases on the basis of miles or changes in the Consumer Price Index. Contingent rentals from operating leases included in revenue were $ 377 million in 2018 , $ 357 million in 2017 and $342 million in 2016 . Contingent rentals from direct financing leases included in revenue were $18 million in 2018 , $15 million in 2017 and $12 million in 2016 .

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Weighted-Average Interest Rate December 31, December 31, 2018 2017 Maturities 2018 2017 (In thousands) Short-term debt and current portion of long-term debt: Short-term debt 2.69 % 1.79 % $ 81,522 35,509 Current portion of long-term debt, including capital leases 848,430 790,560 Total short-term debt and current portion of long-term debt 929,952 826,069 Total long-term debt: U.S. commercial paper (1) 2.78 % 1.56 % 2023 454,397 570,218 Canadian commercial paper (1) 2.28 % — % 2023 123,491 — Trade receivables program 3.15 % — % 2019 200,000 — Global revolving credit facility 2.25 % 2.80 % 2023 12,581 17,328 Unsecured U.S. notes – Medium-term notes (1) (2) 3.22 % 2.73 % 2019-2025 4,853,496 4,006,899 Unsecured U.S. obligations, principally bank term loans 3.50 % 2.79 % 2019 50,000 50,000 Unsecured foreign obligations 1.61 % 1.50 % 2020-2021 216,719 230,380 Asset backed U.S. obligations (3) 2.37 % 1.85 % 2019-2025 627,707 491,899 Capital lease obligations 4.20 % 3.53 % 2019-2025 21,773 20,871 Total long-term debt 6,560,164 5,387,595 Debt issuance costs (18,088 ) (13,453 ) 6,542,076 5,374,142 Current portion of long-term debt, including capital leases (848,430 ) (790,560 ) Long-term debt 5,693,646 4,583,582 Total debt $ 6,623,598 5,409,651 _________________ (1) Amounts are net of unamortized original issue discounts of $7 million and $6 million at December 31, 2018 and 2017 , respectively. (2) Amounts are inclusive of fair market value adjustments on notes subject to hedging of $10 million and $7 million at December 31, 2018 and 2017 , respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $725 million and $825 million at December 31, 2018 and 2017 , respectively. Refer to Note 17 , " Derivatives ," for additional information.
Maturities of debt	Maturities of total debt are as follows: Capital Leases Debt (In thousands) 2019 $ 7,364 922,588 2020 4,729 1,290,370 2021 4,040 1,058,104 2022 2,732 717,413 2023 1,213 2,334,059 Thereafter 5,162 297,379 Total 25,240 6,619,913 Imputed interest (3,467 ) Present value of minimum capitalized lease payments 21,773 Current portion (7,364 ) Long-term capitalized lease obligation $ 14,409

Guarantees (Tables)

Guarantees (Tables)	12 Months Ended
	Dec. 31, 2018
Guarantees [Abstract]
Letters of credit and surety bonds outstanding	At December 31, 2018 and 2017 , we had letters of credit and surety bonds outstanding, which primarily guarantee various insurance activities as noted in the following table: December 31, 2018 2017 (In thousands) Letters of credit $ 253,259 238,610 Surety bonds 121,757 111,007

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Summary of components of accumulated other comprehensive loss, net of tax	The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Currency Translation Adjustments and Other Net Actuarial Loss (1) Prior Service (Cost)/Credit (1) Accumulated Other Comprehensive Loss (In thousands) January 1, 2016 $ (136,020 ) (576,993 ) 278 (712,735 ) Amortization — 18,876 165 19,041 Other current period change (70,590 ) (62,175 ) (7,573 ) (140,338 ) December 31, 2016 (206,610 ) (620,292 ) (7,130 ) (834,032 ) Amortization — 20,267 219 20,486 Other current period change 66,172 39,872 1 106,045 December 31, 2017 (140,438 ) (560,153 ) (6,910 ) (707,501 ) Amortization — 20,773 304 21,077 Other current period change (58,960 ) (62,017 ) (3,351 ) (124,328 ) Adoption of new accounting standard (2) — (98,987 ) (1,580 ) (100,567 ) December 31, 2018 $ (199,398 ) (700,384 ) (11,537 ) (911,319 ) _______________________ (1) These amounts are included in the computation of net periodic pension cost and pension settlement charge. See Note 23 , " Employee Benefit Plans ," for further information. (2) Refer to Note 2, "Recent Accounting Pronouncements" for additional information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per common share from continuing operations	The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Years ended December 31, 2018 2017 2016 (In thousands, except per share amounts) Earnings per share — Basic: Earnings from continuing operations $ 275,607 792,289 265,232 Less: Distributed and undistributed earnings allocated to unvested stock (998 ) (2,853 ) (842 ) Earnings from continuing operations available to common shareholders — Basic $ 274,609 789,436 264,390 Weighted average common shares outstanding— Basic 52,390 52,613 53,015 Earnings from continuing operations per common share — Basic $ 5.24 15.00 4.99 Earnings per share — Diluted: Earnings from continuing operations $ 275,607 792,289 265,232 Less: Distributed and undistributed earnings allocated to unvested stock (995 ) (2,835 ) (838 ) Earnings from continuing operations available to common shareholders — Diluted $ 274,612 789,454 264,394 Weighted average common shares outstanding— Basic 52,390 52,613 53,015 Effect of dilutive equity awards 306 375 346 Weighted average common shares outstanding— Diluted 52,696 52,988 53,361 Earnings from continuing operations per common share — Diluted $ 5.21 14.90 4.95 Anti-dilutive equity awards and market-based restrictive stock rights not included above 1,330 881 716

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense and income tax benefits recognized during the periods	The following table provides information on share-based compensation expense and related income tax benefits recognized in 2018 , 2017 and 2016 : Years ended December 31, 2018 2017 2016 (In thousands) Stock option and stock purchase plans $ 7,703 7,869 7,244 Unvested stock awards 17,249 11,098 11,420 Share-based compensation expense 24,952 18,967 18,664 Income tax benefit (4,615 ) (6,628 ) (6,644 ) Share-based compensation expense, net of tax $ 20,337 12,339 12,020
Summary of stock option activity	The following is a summary of option activity under our stock option plans as of and for the year ended December 31, 2018 : Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) (In years) (In thousands) Options outstanding at January 1 1,717 $ 70.47 Granted 347 74.72 Exercised (140 ) 55.99 Forfeited or expired (62 ) 72.62 Options outstanding at December 31 1,862 $ 72.28 7.0 $ — Vested and expected to vest at December 31 1,803 $ 72.25 7.2 $ — Exercisable at December 31 1,093 $ 72.74 6.1 $ —
Summary of nonvested stock awards	The following is a summary of the status of Ryder’s unvested restricted stock awards as of and for the year ended December 31, 2018 : Time-Vested Market-Based Performance-Based Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value (In thousands) (In thousands) (In thousands) Unvested stock outstanding at January 1 433 $ 65.91 92 $ 68.26 94 $ 78.91 Granted 173 74.05 — — 200 73.88 Vested (1) (89) 79.02 (7) 89.40 (20) 78.58 Forfeited (2) (29) 70.92 (17) 75.14 (45) 76.02 Unvested stock outstanding at December 31 488 $ 66.11 68 $ 64.26 229 $ 73.41 (1) Includes awards attained above target. (2) Includes awards canceled due to employee terminations or performance and market conditions not being achieved.
Schedule of weighted-average exercise price, ESPP	The following table presents the weighted-average exercise price for shares granted and exercised under the ESPP: Years ended December 31, 2018 2017 2016 Shares granted and exercised 199,000 160,000 192,000 Weighted average exercise plan $ 54.89 $ 66.72 $ 56.17
Weighted-average assumptions used for options granted	The following table presents the weighted-average assumptions used for options granted: Years ended December 31, 2018 2017 2016 Expected dividends 2.8% 2.3% 3.0% Expected volatility 29.4% 28.5% 35.2% Risk-free rate 2.7% 1.9% 1.1% Expected term in years 4.4 years 4.4 years 4.3 years Grant-date fair value $ 15.89 $ 15.71 $ 12.53

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Pension expense from continuing operations	Pension expense from continuing operations was as follows: Years ended December 31, 2018 2017 2016 (In thousands) Company-administered plans: Service cost $ 12,108 12,345 12,977 Interest cost 78,234 86,431 94,476 Expected return on plan assets (101,980 ) (91,062 ) (90,588 ) Pension settlement expense 3,061 — — Amortization of: Net actuarial loss 28,593 32,987 31,777 Prior service cost 550 579 2,976 20,566 41,280 51,618 Union-administered plans 9,326 15,553 9,597 Net pension expense $ 29,892 56,833 61,215 Company-administered plans: U.S. $ 28,043 43,717 53,319 Foreign (7,477 ) (2,437 ) (1,701 ) 20,566 41,280 51,618 Union-administered plans 9,326 15,553 9,597 $ 29,892 56,833 61,215
Summary of weighted-average actuarial assumptions	The following table sets forth the weighted-average actuarial assumptions used for Ryder’s pension plans in determining annual pension expense: U.S. Plans Years ended December 31, Foreign Plans Years ended December 31, 2018 2017 2016 2018 2017 2016 Discount rate 3.70% 4.20% 4.50% 2.70% 3.90% 3.70% Rate of increase in compensation levels 3.00% 3.00% 3.00% 3.08% 3.10% 3.10% Expected long-term rate of return on plan assets 5.40% 5.40% 5.85% 5.50% 5.48% 5.44% Gain and loss amortization period (years) 21 21 23 26 26 27 The following table sets forth the weighted-average actuarial assumptions used in determining funded status: U.S. Plans December 31, Foreign Plans December 31, 2018 2017 2018 2017 Discount rate 4.35% 3.70% 3.04% 2.70% Rate of increase in compensation levels 3.00% 3.00% 3.08% 3.10%
Summary of benefit obligations, assets and funded status	The following table sets forth the benefit obligations, assets and funded status associated with our pension plans: December 31, 2018 2017 (In thousands) Change in benefit obligations: Benefit obligations at January 1 $ 2,298,902 2,228,762 Service cost 12,108 12,345 Interest cost 78,234 86,431 Actuarial (gain) loss (120,934 ) 100,905 Pension annuity settlement — (66,423 ) Benefits paid (104,560 ) (104,054 ) Foreign currency exchange rate changes (28,607 ) 40,936 Benefit obligations at December 31 2,135,143 2,298,902 Change in plan assets: Fair value of plan assets at January 1 1,941,330 1,787,075 Actual return on plan assets (108,386 ) 244,916 Employer contribution 27,741 41,219 Benefits paid (104,560 ) (104,054 ) Pension annuity settlement — (71,299 ) Foreign currency exchange rate changes (30,582 ) 43,473 Fair value of plan assets at December 31 1,725,543 1,941,330 Funded status $ (409,600 ) (357,572 ) Funded percent 81 % 84 %
Amounts recognized in the Consolidated Balance Sheets	The funded status of our pension plans was presented in the Consolidated Balance Sheets as follows: December 31, 2018 2017 (In thousands) Noncurrent asset $ 51,133 58,708 Current liability (3,754 ) (3,863 ) Noncurrent liability (456,979 ) (412,417 ) Net amount recognized $ (409,600 ) (357,572 )
Amounts recognized in accumulated other comprehensive loss (pre-tax)	Amounts recognized in accumulated other comprehensive loss (pre-tax) consisted of: December 31, 2018 2017 (In thousands) Prior service cost $ 14,519 11,135 Net actuarial loss 929,995 878,386 Net amount recognized $ 944,514 889,521
Summary of pension obligations greater than fair value of related plan assets	At December 31, 2018 and 2017 , our accumulated benefit obligations, as well as, our pension obligations (accumulated benefit obligations (ABO), and projected benefit obligations (PBO)), greater than the fair value of the related plan assets for our U.S. and foreign plans were as follows: U.S. Plans December 31, Foreign Plans December 31, Total December 31, 2018 2017 2018 2017 2018 2017 (In thousands) Total accumulated benefit obligations $ 1,685,270 1,781,882 429,640 492,864 2,114,910 2,274,746 Plans with pension obligations in excess of plan assets: PBO 1,703,847 1,804,260 6,912 7,802 1,710,759 1,812,062 ABO 1,685,270 1,781,882 5,788 6,502 1,691,058 1,788,384 Fair value of plan assets 1,250,032 1,395,790 — — 1,250,032 1,395,790
Fair value of each major category of pension plan assets and the level of inputs used to measure fair value	The following table presents the fair value of each major category of pension plan assets and the level of inputs used to measure fair value as of December 31, 2018 and 2017 : Fair Value Measurements at Asset Category Total Level 1 Level 2 Level 3 (In thousands) Equity securities: U.S. common collective trusts $ 315,741 — 315,741 — Foreign common collective trusts 352,040 — 352,040 — Fixed income securities: Corporate bonds 79,155 — 79,155 — Common collective trusts 856,771 — 856,771 — Private equity and hedge funds 121,836 — — 121,836 Total $ 1,725,543 — 1,603,707 $ 121,836 Fair Value Measurements at Asset Category Total Level 1 Level 2 Level 3 (In thousands) Equity securities: U.S. common collective trusts $ 443,405 — 443,405 — Foreign common collective trusts 458,111 — 458,111 — Fixed income securities: Corporate bonds 85,117 — 85,117 — Common collective trusts 840,104 — 840,104 — Private equity and hedge funds 114,593 — — 114,593 Total $ 1,941,330 — 1,826,737 114,593
Summary of changes in fair value of the pension plans Level 3 assets	The following table presents a summary of changes in the fair value of the pension plans’ Level 3 assets for the years ended December 31, 2018 and 2017 : 2018 2017 (In thousands) Beginning balance at January 1 $ 114,593 102,884 Return on plan assets: Relating to assets still held at the reporting date 6,762 10,795 Relating to assets sold during the period (38 ) (405 ) Purchases, sales, settlements and expenses 519 1,319 Ending balance at December 31 $ 121,836 114,593
Pension benefits expected to be paid	The following table details pension benefits expected to be paid in each of the next five fiscal years and in aggregate for the five fiscal years thereafter: (In thousands) 2019 $ 104,596 2020 107,603 2021 112,469 2022 116,601 2023 120,086 2024-2028 639,201
Schedule of multi-employer plan	Among other factors, plans in the red zone are generally less than sixty-five percent funded, plans in the yellow zone are less than eighty percent funded, and plans in the green zone are at least eighty percent funded. Pension Protection Act Zone Status Ryder Contributions Expiration Date(s) of Collective-Bargaining Agreement(s) Pension Fund Employer Identification Number 2018 2017 FIP/RP Status Pending/ Implemented (1) 2018 2017 2016 Surcharge Imposed (Dollars in thousands) Western Conference Teamsters 91-6145047 Green Green No $ 3,488 3,245 2,613 No 01/12/18 to 03/31/21 IAM National 51-6031295 Green Green No 3,953 3,891 4,162 No 03/31/17 to 11/30/19 Automobile Mechanics 36-6042061 Yellow Yellow FIP Adopted 1,435 2,048 2,201 Yes 10/31/17 to 05/31/19 Other funds 931 915 760 Total contributions 9,807 10,099 9,736 Pension settlement (benefit) charges (481 ) 5,454 (139 ) Union-administered plans $ 9,326 15,553 9,597 _____________ (1) The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented.

Other Items Impacting Compara_2

Other Items Impacting Comparability (Tables)	12 Months Ended
	Dec. 31, 2018
Other Items Impacting Comparability [Abstract]
Other Items Impacting Comparability	Excluding these items from our segment measure of performance allows for better year over year comparison: Years ended December 31, 2018 2017 2016 (In thousands) Restructuring and other charges, net (1) $ 9,594 21,405 5,074 Goodwill impairment (1), (2) 15,513 — — Tax reform related bonus — 23,278 — Operating tax adjustment — 2,205 — Pension related adjustment (3) — 5,454 7,650 Gain on sale of property (4) — (24,122 ) — Restructuring and other items, net $ 25,107 28,220 12,724 _______________ (1) Refer to Note 5 , " Restructuring and Other Charges, Net ," for additional information. (2) Refer to Note 10 , " Goodwill ," for additional information. (3) Refer to Note 23 , " Employee Benefit Plans ," for additional information. (4) Refer to Note 28 , Miscellaneous Income, Net for additional information.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flow information	Supplemental cash flow information was as follows: Years ended December 31, 2018 2017 2016 (In thousands) Interest paid $ 161,826 129,559 143,990 Income taxes paid 22,965 13,692 14,062 Changes in accounts payable related to purchases of revenue earning equipment 114,862 80,781 (142,256 ) Operating and revenue earning equipment acquired under capital leases 10,701 7,057 1,230
Cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows. December 31, 2018 2017 (In thousands) Cash and cash equivalents $ 68,111 78,348 Restricted cash included in prepaid expenses and other current assets — 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 68,111 83,022
Restrictions on cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows. December 31, 2018 2017 (In thousands) Cash and cash equivalents $ 68,111 78,348 Restricted cash included in prepaid expenses and other current assets — 4,674 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 68,111 83,022

Miscellaneous Income, Net (Tabl

Miscellaneous Income, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Schedule of miscellaneous income, net	Years ended December 31, 2018 2017 2016 Gains on sales of operating property and equipment $ 2,478 26,093 2,475 Insurance proceeds/recoveries 1,155 1,734 966 Contract settlement 817 1,600 — Foreign currency transaction (losses) gains (459 ) 657 1,236 Rabbi trust investment (loss) income (3,247 ) 10,522 2,763 Other, net 4,643 3,639 5,628 Total $ 5,387 44,245 13,068

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Business segment revenue and EBT from continuing operations	Business segment revenue and EBT from continuing operations is as follows: Years ended December 31, 2018 2017 2016 (In thousands) Revenue: Fleet Management Solutions: ChoiceLease $ 2,602,831 2,460,424 2,362,040 Commercial rental 905,305 777,261 808,912 ChoiceLease and commercial rental 3,508,136 3,237,685 3,170,952 SelectCare 462,046 428,422 415,507 Other 87,331 77,450 78,042 Fuel services revenue 620,245 520,500 463,738 Total Fleet Management Solutions from external customers 4,677,758 4,264,057 4,128,239 Inter-segment revenue 577,469 469,514 427,955 Fleet Management Solutions 5,255,227 4,733,571 4,556,194 Dedicated Transportation Solutions 1,333,313 1,095,645 1,020,543 Supply Chain Solutions 2,398,144 1,937,352 1,609,356 Eliminations (577,469 ) (469,514 ) (427,955 ) Total revenue $ 8,409,215 7,297,054 6,758,138 EBT: Fleet Management Solutions $ 324,345 313,002 371,126 Dedicated Transportation Solutions 61,236 55,346 63,204 Supply Chain Solutions 133,570 103,561 106,477 Eliminations (63,594 ) (53,275 ) (50,148 ) 455,557 418,634 490,659 Unallocated Central Support Services (49,048 ) (48,128 ) (40,736 ) Non-operating pension costs (1) (7,541 ) (27,741 ) (29,943 ) Restructuring and other items, net (2) (25,107 ) (28,220 ) (12,724 ) Earnings before income taxes from continuing operations $ 373,861 314,545 407,256 ______________ (1) Non-operating pension costs include the amortization of net actuarial loss and prior service costs, interest cost and expected return on plan assets components of pension and postretirement benefit costs. (2) See Note 25 , “ Other Items Impacting Comparability ,” for a discussion of items excluded from our primary measure of segment performance.
Share-based compensation, depreciation expense, gains on vehicle sales, net, other non-cash charges, net, interest expense (income), capital expenditures and total assets	The following table sets forth non-operating pension costs and share-based compensation expense, depreciation expense, used vehicle sales, net, amortization expense and other non-cash charges, net, interest expense (income), capital expenditures paid and total assets for the years ended December 31, 2018 , 2017 and 2016 , as provided to the chief operating decision-maker for each of Ryder’s reportable business segments: FMS DTS SCS CSS Eliminations Total (In thousands) 2018 Non-operating pension costs and share-based compensation expense $ 6,340 1,831 5,283 19,039 — 32,493 Depreciation expense (1) $ 1,354,544 4,773 34,729 918 — 1,394,964 Used vehicle sales, net $ 22,021 (43 ) (239 ) — — 21,739 Amortization expense and other non-cash charges, net $ 26,203 542 3,355 1,053 — 31,153 Interest expense (income) (2) $ 179,562 (2,262 ) 1,067 193 — 178,560 Capital expenditures paid (3) $ 2,979,482 1,444 45,348 24,135 — 3,050,409 Total assets $ 11,704,332 324,906 1,085,001 297,709 (360,864 ) 13,051,084 2017 Non-operating pension costs and share-based compensation expense $ 5,339 1,270 2,982 37,117 — 46,708 Depreciation expense (1) $ 1,218,492 3,520 32,255 908 — 1,255,175 Used vehicle sales, net $ 17,553 (113 ) (199 ) — — 17,241 Amortization expense and other non-cash charges, net $ 29,550 1,015 (21,967 ) (263 ) — 8,335 Interest expense (income) (2) $ 144,137 (1,659 ) (2,446 ) 318 — 140,350 Capital expenditures paid (3) $ 1,783,917 3,375 50,117 23,027 — 1,860,436 Total assets $ 10,388,022 278,863 870,048 196,686 (269,620 ) 11,463,999 2016 Non-operating pension costs and share-based compensation expense $ 5,464 1,254 2,764 46,775 — 56,257 Depreciation expense (1) $ 1,156,888 3,222 25,956 984 — 1,187,050 Used vehicle sales, net $ (724 ) (90 ) (158 ) — — (972 ) Amortization expense and other non-cash charges, net $ 34,652 1,027 3,215 (37 ) — 38,857 Interest expense (income) (2) $ 151,297 (1,901 ) (1,663 ) 110 — 147,843 Capital expenditures paid $ 1,814,146 2,551 64,186 24,274 — 1,905,157 Total assets $ 9,954,230 257,762 717,915 199,745 (217,439 ) 10,912,213 ____________ (1) Depreciation expense associated with CSS assets was allocated to business segments based upon estimated and planned asset utilization. Depreciation expense totaling $25 million , $24 million and $24 million during 2018 , 2017 and 2016 , respectively, associated with CSS assets was allocated to other business segments. (2) Interest expense was primarily allocated to the FMS segment since such borrowings were used principally to fund the purchase of revenue earning equipment used in FMS; however, interest income was also reflected in DTS and SCS based on targeted segment leverage ratios. (3) Excludes acquisition payments of $35 million in 2018 and $1 million in 2017 .
Geographic Information	Geographic Information Years ended December 31, 2018 2017 2016 (In thousands) Long-lived assets: United States $ 9,114,595 7,935,167 7,854,845 Foreign: Canada 648,856 623,576 532,403 Europe 522,633 527,869 472,027 Mexico 55,462 44,997 33,979 Singapore 237 357 338 1,227,188 1,196,799 1,038,747 Total $ 10,341,783 9,131,966 8,893,592

Quarterly Information (Unaudi_2

Quarterly Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information	Earnings from Continuing Operations Before Income Taxes Earnings from Continuing Operations Earnings from Continuing Operations per Common Share Net Earnings per Common Share Revenue Net Earnings Basic Diluted Basic Diluted (In thousands, except per share amounts) 2018 First quarter $ 1,903,467 48,100 33,932 33,505 0.65 0.64 0.64 0.63 Second quarter 2,089,338 98,283 43,519 42,258 0.83 0.82 0.80 0.80 Third quarter 2,158,061 116,140 89,511 88,751 1.70 1.69 1.69 1.68 Fourth quarter 2,258,349 111,338 108,645 108,784 2.07 2.06 2.07 2.06 Full year $ 8,409,215 373,861 275,607 273,298 5.24 5.21 5.20 5.17 2017 First quarter $ 1,736,983 60,622 38,536 38,406 0.73 0.72 0.72 0.72 Second quarter 1,788,028 80,854 51,395 50,868 0.97 0.97 0.96 0.96 Third quarter 1,840,897 94,492 59,040 58,750 1.12 1.12 1.12 1.11 Fourth quarter 1,931,146 78,577 643,318 643,808 12.22 12.12 12.23 12.13 Full year $ 7,297,054 314,545 792,289 791,832 15.00 14.90 15.00 $ 14.89 Note: EPS amounts may not be additive due to rounding.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Maximum amount of insurance risk of loss retained per occurrence	$ 3,000,000

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amount of restricted cash in prepaid expenses and other assets	$ 0	$ 4,674,000
Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effects	$ 101,000,000

Recent Accounting Pronounceme_4

Recent Accounting Pronouncements Revenue Recognition - Effect on Statement of Consolidated Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 2,258,349	$ 2,158,061	$ 2,089,338	$ 1,903,467	$ 1,931,146	$ 1,840,897	$ 1,788,028	$ 1,736,983	$ 8,409,215	$ 7,297,054	$ 6,758,138
Cost of services										2,970,800	2,574,100
Selling, general and administrative expenses									854,807	871,224	804,229
Earnings from continuing operations before income taxes	111,338	116,140	98,283	48,100	78,577	94,492	80,854	60,622	373,861	314,545	407,256
Provision for income taxes									98,254	(477,744)	142,024
Earnings from continuing operations	108,645	89,511	43,519	33,932	643,318	59,040	51,395	38,536	275,607	792,289	265,232
Net earnings	$ 108,784	$ 88,751	$ 42,258	$ 33,505	$ 643,808	$ 58,750	$ 50,868	$ 38,406	273,298	791,832	263,069
Comprehensive income									$ 170,047	$ 918,363	$ 141,772
Earnings per common share - Basic
Continuing operations (in dollars per share)	$ 2.07	$ 1.70	$ 0.83	$ 0.65	$ 12.22	$ 1.12	$ 0.97	$ 0.73	$ 5.24	$ 15	$ 4.99
Earnings per common share - Diluted
Continuing operations (in dollars per share)	$ 2.06	$ 1.69	$ 0.82	$ 0.64	$ 12.12	$ 1.12	$ 0.97	$ 0.72	$ 5.21	$ 14.90	$ 4.95
Correction of prior period error										$ 33,000	$ 29,000
Services revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue									$ 4,280,834	3,538,869	3,123,448
Cost of services									$ 3,655,794	2,970,803	2,574,132
As Previously Reported | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues										7,329,600	6,787,000
Selling, general and administrative expenses										872,000	805,100
Earnings from continuing operations before income taxes										313,800	406,400
Provision for income taxes										(477,200)	141,700
Earnings from continuing operations										791,000	264,600
Net earnings										790,600	262,500
Comprehensive income										$ 917,100	$ 141,200
Earnings per common share - Basic
Continuing operations (in dollars per share)										$ 14.98	$ 4.98
Earnings per common share - Diluted
Continuing operations (in dollars per share)										$ 14.87	$ 4.94
As Previously Reported | Services revenue | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue										$ 3,571,400	$ 3,152,300
Cost of services										3,003,300	2,603,000
Adjustment | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues										(32,500)	(28,900)
Selling, general and administrative expenses										(800)	(900)
Earnings from continuing operations before income taxes										800	900
Provision for income taxes										(500)	300
Earnings from continuing operations										1,300	600
Net earnings										1,300	600
Comprehensive income										$ 1,300	$ 600
Earnings per common share - Basic
Continuing operations (in dollars per share)										$ 0.02	$ 0.01
Earnings per common share - Diluted
Continuing operations (in dollars per share)										$ 0.03	$ 0.01
Adjustment | Services revenue | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue										$ (32,500)	$ (28,900)
Cost of services										$ (32,500)	$ (28,900)

Recent Accounting Pronounceme_5

Recent Accounting Pronouncements Revenue Recognition - Effect on Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets	$ 201,626	$ 160,094
Total current assets	1,568,391	1,322,893
Direct financing leases and other assets	606,629	570,706
Total assets	13,051,084	11,463,999	$ 10,912,213
Accrued expenses and other current liabilities	630,493	589,603
Total current liabilities	2,292,321	2,014,975
Other non-current liabilities	849,946	812,642
Deferred income taxes	1,304,844	1,211,129
Total liabilities	10,140,757	8,622,328
Retained earnings	2,710,696	2,471,677
Total shareholders’ equity	2,910,327	2,841,671	$ 2,057,656	$ 1,987,111
Total liabilities and shareholders’ equity	$ 13,051,084	11,463,999
As Previously Reported | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets		159,500
Total current assets		1,322,300
Direct financing leases and other assets		559,500
Total assets		11,452,200
Accrued expenses and other current liabilities		587,400
Total current liabilities		2,012,800
Other non-current liabilities		812,100
Deferred income taxes		1,208,800
Total liabilities		8,617,200
Retained earnings		2,465,000
Total shareholders’ equity		2,835,000
Total liabilities and shareholders’ equity		11,452,200
Adjustment | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other current assets		600
Total current assets		600
Direct financing leases and other assets		11,200
Total assets		11,800
Accrued expenses and other current liabilities		2,200
Total current liabilities		2,200
Other non-current liabilities		500
Deferred income taxes		2,300
Total liabilities		5,100
Retained earnings		6,700
Total shareholders’ equity		6,700
Total liabilities and shareholders’ equity		$ 11,700

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jun. 15, 2018	Apr. 02, 2018	Sep. 29, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill				$ 475,206	$ 395,504	$ 386,772
MXD Group
Business Acquisition [Line Items]
Purchase price of outstanding equity in acquisition		$ 118,000
Customer relationships and other intangibles		23,651
Goodwill		$ 63,424
Metro
Business Acquisition [Line Items]
Purchase price of outstanding equity in acquisition	$ 52,000
Customer relationships and other intangibles	400
Tangible assets net of liabilities assumed	19,000
Goodwill	$ 32,000
Dallas Service Center, Inc. [Member]
Business Acquisition [Line Items]
Purchase price of outstanding equity in acquisition			$ 8,000
Customer Relationships | MXD Group
Business Acquisition [Line Items]
Amortization period				8 years

Acquisitions - Acquisitions Pur

Acquisitions - Acquisitions Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 02, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets:
Goodwill	$ 475,206		$ 395,504	$ 386,772
MXD Group
Assets:
Operating property and equipment		$ 9,803
Goodwill		63,424
Customer relationships and other intangibles		23,651
Other assets, primarily accounts receivable		31,492
Deferred income taxes		12,737
Total assets		141,107
Liabilities:
Accrued liabilities		(18,107)
Other liabilities, primarily accounts payable		(5,052)
Net assets acquired		$ 117,948

Revenue (Details)

Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Trade	1,087,219,000	$ 898,876,000
Deferred revenue	$ 13,000,000

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue - Geographical (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenues	$ 2,258,349	$ 2,158,061	$ 2,089,338	$ 1,903,467	$ 1,931,146	$ 1,840,897	$ 1,788,028	$ 1,736,983	$ 8,409,215	$ 7,297,054	$ 6,758,138
United States
Disaggregation of Revenue [Line Items]
Revenues									7,387,046	6,346,184	5,863,670
Canada
Disaggregation of Revenue [Line Items]
Revenues									464,691	428,178	387,581
Europe
Disaggregation of Revenue [Line Items]
Revenues									335,474	321,375	339,420
Mexico
Disaggregation of Revenue [Line Items]
Revenues									198,148	170,525	139,176
Singapore
Disaggregation of Revenue [Line Items]
Revenues									23,856	30,792	28,291
Fleet Management Solutions
Disaggregation of Revenue [Line Items]
Revenues									4,677,758	4,264,057	4,128,239
Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenues									2,398,144	1,937,352
Operating Segments | Fleet Management Solutions
Disaggregation of Revenue [Line Items]
Revenues									5,255,227	4,733,571	4,556,194
Operating Segments | Fleet Management Solutions | United States
Disaggregation of Revenue [Line Items]
Revenues									4,618,012	4,130,528	3,952,015
Operating Segments | Fleet Management Solutions | Canada
Disaggregation of Revenue [Line Items]
Revenues									301,741	281,668	264,759
Operating Segments | Fleet Management Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues									335,474	321,375	339,420
Operating Segments | Fleet Management Solutions | Mexico
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Fleet Management Solutions | Singapore
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Dedicated Transportation Solutions
Disaggregation of Revenue [Line Items]
Revenues									1,333,313	1,095,645	1,020,543
Operating Segments | Dedicated Transportation Solutions | United States
Disaggregation of Revenue [Line Items]
Revenues									1,333,313	1,095,645	1,020,543
Operating Segments | Dedicated Transportation Solutions | Canada
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Dedicated Transportation Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Dedicated Transportation Solutions | Mexico
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Dedicated Transportation Solutions | Singapore
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenues									2,398,144	1,937,352	1,609,356
Operating Segments | Supply Chain Solutions | United States
Disaggregation of Revenue [Line Items]
Revenues									1,990,485	1,569,957	1,302,730
Operating Segments | Supply Chain Solutions | Canada
Disaggregation of Revenue [Line Items]
Revenues									185,655	166,078	139,159
Operating Segments | Supply Chain Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Operating Segments | Supply Chain Solutions | Mexico
Disaggregation of Revenue [Line Items]
Revenues									198,148	170,525	139,176
Operating Segments | Supply Chain Solutions | Singapore
Disaggregation of Revenue [Line Items]
Revenues									23,856	30,792	28,291
Eliminations
Disaggregation of Revenue [Line Items]
Revenues									(577,469)	(469,514)	(427,955)
Eliminations | United States
Disaggregation of Revenue [Line Items]
Revenues									(554,764)	(449,946)	(411,618)
Eliminations | Canada
Disaggregation of Revenue [Line Items]
Revenues									(22,705)	(19,568)	(16,337)
Eliminations | Europe
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Eliminations | Mexico
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Eliminations | Singapore
Disaggregation of Revenue [Line Items]
Revenues									0	0	0
Eliminations | Fleet Management Solutions
Disaggregation of Revenue [Line Items]
Revenues									$ (577,469)	$ (469,514)	$ (427,955)

Revenue Disaggregation of Rev_2

Revenue Disaggregation of Revenue - Industry (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,258,349	$ 2,158,061	$ 2,089,338	$ 1,903,467	$ 1,931,146	$ 1,840,897	$ 1,788,028	$ 1,736,983	$ 8,409,215	$ 7,297,054	$ 6,758,138
Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									2,398,144	1,937,352
Automotive | Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									947,408	783,640	724,082
Technology and healthcare | Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									480,026	387,252	283,836
CPG and retail | Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									766,765	535,689	452,096
Industrial and other | Supply Chain Solutions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									$ 203,945	$ 230,771	$ 149,342

Restructuring and Other Charg_2

Restructuring and Other Charges, Net Restructuring Charges Related to Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	$ 25,107	$ 21,405	$ 5,074
Fleet Management Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	16,785	2,995	3,550
Dedicated Transportation Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	0	771	22
Supply Chain Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	7,668	2,278	278
Central Support Services
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges, net	$ 654	$ 15,361	$ 1,224

Restructuring and Other Charg_3

Restructuring and Other Charges, Net - Narrative (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Oct. 01, 2017	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 4,000	$ 3,000
Pre-tax restructuring charge					4,000	13,000	$ 5,000
Goodwill impairment charge	$ 0	$ 0		$ 15,513	15,513	0	0
Acquisition transaction costs					2,000
Professional fees					4,000	11,000
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges					(8,366)	$ (13,320)	$ (5,074)
Singapore | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ (4,000)
Europe | Fleet Management Solutions
Restructuring Cost and Reserve [Line Items]
Goodwill impairment charge					$ 16,000

Restructuring and Other Charg_4

Restructuring and Other Charges, Net - Activities of Restructuring Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 13,074
Workforce reduction charges	(4,000)	$ (3,000)
Restructuring reserve, ending balance	7,595	13,074
Employee Termination Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	13,074	7,278	$ 12,333
Workforce reduction charges	8,366	13,320	5,074
Utilization	(13,845)	(7,524)	(10,129)
Restructuring reserve, ending balance	$ 7,595	$ 13,074	$ 7,278

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Trade	$ 1,087,219	$ 898,876
Direct financing leases	83,962	81,996
Other, primarily warranty and insurance	65,427	43,883
Receivables, gross	1,236,608	1,024,755
Allowance	(17,182)	(13,847)
Total	$ 1,219,426	$ 1,010,908

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Restricted cash	$ 0	$ 4,674,000
Prepaid vehicle licenses	69,434,000	62,772,000
Prepaid operating taxes	16,461,000	14,320,000
Prepaid sales commission	23,842,000	13,599,000
Prepaid insurance	16,423,000	15,688,000
Start-up costs	9,463,000	8,001,000
Prepaid maintenance	10,903,000	6,171,000
Prepaid vehicles	12,814,000	947,000
Other	42,286,000	33,922,000
Total	$ 201,626,000	$ 160,094,000

Revenue Earning Equipment, Ne_2

Revenue Earning Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue Earning Equipment [Line Items]
Cost	$ 14,575,448	$ 13,022,916
Accumulated Depreciation	(5,077,478)	(4,667,654)
Net Book Value	9,497,970	8,355,262
Losses from fair value adjustments	53,728	58,065	$ 67,415
Gains on vehicle sales, net	(31,989)	(40,824)	(68,387)
Losses from fair value adjustments	53,728	58,065	67,415
Used vehicle sales, net	$ 21,739	17,241	$ (972)
ChoiceLease
Revenue Earning Equipment [Line Items]
Estimated useful life, minimum	3 years
Estimated useful life, maximum	12 years
Cost	$ 10,955,447	10,002,981
Accumulated Depreciation	(3,694,104)	(3,367,431)
Net Book Value	$ 7,261,343	6,635,550
Commercial rental
Revenue Earning Equipment [Line Items]
Estimated useful life, minimum	4 years 6 months
Estimated useful life, maximum	12 years
Cost	$ 3,152,908	2,616,706
Accumulated Depreciation	(1,047,346)	(1,001,965)
Net Book Value	2,105,562	1,614,741
Held for sale
Revenue Earning Equipment [Line Items]
Cost	467,093	403,229
Accumulated Depreciation	(336,028)	(298,258)
Net Book Value	131,065	104,971
Assets Held under Capital Leases
Revenue Earning Equipment [Line Items]
Cost	18,000	29,000
Accumulated Depreciation	(10,000)	(14,000)
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Revenue Earning Equipment [Line Items]
Assets held for sale	81,229	63,284
Losses from fair value adjustments	53,728
Losses from fair value adjustments	53,728
Trucks | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Revenue Earning Equipment [Line Items]
Assets held for sale	44,325	33,208
Losses from fair value adjustments	40,220	30,812
Losses from fair value adjustments	40,220	30,812
Tractors | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Revenue Earning Equipment [Line Items]
Assets held for sale	35,397	27,976
Losses from fair value adjustments	9,030	21,261
Losses from fair value adjustments	9,030	21,261
Trailers | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Revenue Earning Equipment [Line Items]
Assets held for sale	1,507	2,100
Losses from fair value adjustments	4,478	5,992
Losses from fair value adjustments	$ 4,478	$ 5,992

Revenue Earning Equipment, Ne_3

Revenue Earning Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue Earning Equipment [Abstract]
Revenue earning equipment depreciation expense	$ 1,290,000	$ 1,160,000	$ 1,100,000
Accelerated depreciation	39,000	30,000
Losses from fair value adjustments	53,728	58,065	$ 67,415
Assets held-for-sale	$ 50,000	$ 42,000

Operating Property And Equipm_3

Operating Property And Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Land	$ 235,272	$ 217,885
Buildings and improvements	873,728	822,931
Machinery and equipment	845,460	797,084
Other	125,377	131,181
Gross	2,079,837	1,969,081
Accumulated depreciation	(1,236,024)	(1,192,377)
Total	843,813	776,704
Operating equipment depreciation expense	$ 101,000	$ 94,000	$ 88,000
Minimum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Minimum | Other
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Maximum | Other
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Oct. 01, 2017	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill			$ 424,725	$ 424,725	$ 415,993
Accumulated impairment losses				(44,734)	(29,221)	$ (29,221)
Goodwill				475,206	395,504	386,772
Foreign currency translation adjustment				(475)	2,226
Acquisitions				95,690	6,506
Goodwill				519,940	424,725	415,993
Goodwill impairment charge	$ 0	$ 0	15,513	15,513	0	0
Fleet Management Solutions
Goodwill [Roll Forward]
Goodwill			237,176	237,176	228,832
Accumulated impairment losses				(25,835)	(10,322)	(10,322)
Goodwill				243,606	226,854	218,510
Foreign currency translation adjustment				(1)	1,838
Acquisitions				32,266	6,506
Goodwill				269,441	237,176	228,832
Dedicated Transportation Solutions
Goodwill [Roll Forward]
Goodwill			40,808	40,808	40,808
Accumulated impairment losses				0	0	0
Goodwill				40,808	40,808	40,808
Foreign currency translation adjustment				0	0
Acquisitions				0	0
Goodwill				40,808	40,808	40,808
Supply Chain Solutions
Goodwill [Roll Forward]
Goodwill			$ 146,741	146,741	146,353
Accumulated impairment losses				(18,899)	(18,899)	(18,899)
Goodwill				190,792	127,842	127,454
Foreign currency translation adjustment				(474)	388
Acquisitions				63,424	0
Goodwill				$ 209,691	$ 146,741	$ 146,353

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite lived intangible assets:
Accumulated amortization	$ (65,048)	$ (57,420)
Total finite lived intangible assets	52,893	36,470
Foreign currency translation adjustment	(2,549)	(2,271)
Total	59,075	42,930
Customer relationship intangibles
Finite lived intangible assets:
Intangible assets, finite	115,574	91,523
Other intangibles, primarily trade name
Finite lived intangible assets:
Intangible assets, finite	2,367	2,367
Trade Names
Intangible Assets
Indefinite lived intangible assets — Trade name	$ 8,731	$ 8,731

Intangible Assets, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization expense associated with finite lived intangible assets	$ 8	$ 6	$ 6
Minimum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,019	0
2,020	6
2,021	6
2,022	6
2,023	6
Maximum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,019	8
2,020	8
2,021	8
2,022	8
2,023	$ 8
Customer relationship intangibles | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	7 years
Customer relationship intangibles | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	19 years

Direct Financing Leases and O_3

Direct Financing Leases and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Non-current portion	$ 375,707	$ 364,847
Investments held in rabbi trusts	59,403	61,425
Contract incentives	24,820	14,857
Insurance receivables	17,547	15,545
Start-up costs	13,156	13,750
Prepaid pension asset	51,133	58,708
Lease origination costs	9,769	9,387
Deferred tax asset	14,153	6,736
Noncurrent income tax receivable	11,067	0
Other	29,874	25,451
Total	606,629	570,706
Cash and cash equivalents | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments held in rabbi trusts	15,578	4,956
U.S. equity mutual funds | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments held in rabbi trusts	29,298	39,958
Foreign equity mutual funds | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments held in rabbi trusts	6,678	8,001
Fixed income mutual funds | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments held in rabbi trusts	$ 7,849	$ 8,510

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accrued Expenses
Salaries and wages	$ 149,629	$ 135,930
Deferred compensation	4,524	4,269
Pension benefits	3,754	3,863
Other postretirement benefits	1,387	1,481
Other employee benefits	28,370	28,636
Insurance obligations	139,314	130,848
Operating taxes	100,399	95,848
Income taxes	3,491	8,550
Interest	39,522	30,003
Deposits, mainly from customers	80,401	69,903
Deferred revenue	15,810	14,004
Restructuring liabilities	7,595	13,074
Other	56,297	53,194
Total	630,493	589,603
Non-Current Liabilities
Salaries and wages	0	0
Deferred compensation	55,279	58,411
Pension benefits	456,979	412,417
Other postretirement benefits	18,097	19,760
Other employee benefits	0	3,279
Insurance obligations	247,552	242,473
Operating taxes	0	0
Income taxes	18,477	23,888
Interest	0	0
Deposits, mainly from customers	3,390	3,638
Deferred revenue	0	0
Restructuring liabilities	0	0
Other	50,172	48,776
Total	849,946	812,642
Total
Salaries and wages	149,629	135,930
Deferred compensation	59,803	62,680
Pension benefits	460,733	416,280
Other postretirement benefits	19,484	21,241
Other employee benefits	28,370	31,915
Insurance obligations	386,866	373,321
Operating taxes	100,399	95,848
Income taxes	21,968	32,438
Interest	39,522	30,003
Deposits, mainly from customers	83,791	73,541
Deferred revenue	15,810	14,004
Restructuring liabilities	7,595	13,074
Other	106,469	101,970
Total	$ 1,480,439	$ 1,402,245

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accrued Liabilities and Other Liabilities [Abstract]
Benefit (charge) within operating expense	$ (1)	$ 9	$ (9)

Income Taxes - Income Taxes fro

Income Taxes - Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings from continuing operations before income taxes:
United States									$ 356,644	$ 254,355	$ 344,614
Foreign									17,217	60,190	62,642
Earnings from continuing operations before income taxes	$ 111,338	$ 116,140	$ 98,283	$ 48,100	$ 78,577	$ 94,492	$ 80,854	$ 60,622	373,861	314,545	407,256
Current tax (benefit) expense from continuing operations:
Federal									(23,333)	6,752	2,731
State									6,862	9,360	7,713
Foreign									10,123	6,442	6,411
Total									(6,348)	22,554	16,855
Deferred tax expense (benefit) from continuing operations:
Federal									110,408	(510,172)	106,718
State									313	8,080	16,299
Foreign									(6,119)	1,794	2,152
Total									104,602	(500,298)	125,169
Provision for (benefit from) income taxes from continuing operations									98,254	$ (477,744)	$ 142,024
Alternative minimum tax refunds, net of sequestration charge									$ 22,000

Income Taxes - Income Tax Rate

Income Taxes - Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of federal statutory tax rate with effective tax rate
Federal statutory tax rate	21.00%	35.00%	35.00%
Impact of one-time deemed repatriation	6.40%	10.70%	0.00%
Impact on deferred taxes for changes in tax rates	(3.50%)	(196.40%)	(0.10%)
Additional deferred tax adjustments	(1.60%)	0.00%	0.00%
State income taxes, net of federal income tax benefit	3.80%	3.00%	4.00%
Foreign rates varying from federal statutory tax rate	0.10%	(4.00%)	(3.30%)
Tax contingencies	(1.10%)	(0.30%)	(0.20%)
Other, net	1.20%	0.10%	(0.50%)
Effective tax rate	26.30%	(151.90%)	34.90%

Income Taxes - Net Deferred Inc

Income Taxes - Net Deferred Income Tax Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Deferred income tax assets:
Self-insurance accruals	$ 82,042		$ 75,198
Net operating loss carryforwards	414,143		171,053
Alternative minimum taxes (1)	0	$ 23,000	22,552
Accrued compensation and benefits	56,066		63,536
Federal benefit on state tax positions	11,027		11,950
Pension benefits	91,890		82,547
Miscellaneous other accruals	20,760		19,608
Deferred tax assets gross	675,928		446,444
Valuation allowance	(16,186)		(18,667)
Deferred tax assets net	659,742		427,777
Deferred income tax liabilities:
Property and equipment basis difference	(1,936,372)		(1,614,963)
Other	(13,940)		(16,857)
Deferred tax liabilities, gross	(1,950,312)		(1,631,820)
Net deferred income tax liability	(1,290,570)		(1,204,043)
Deferred Tax Assets Direct Financing Leases And Other Assets	$ 14,000		$ 7,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Apr. 02, 2018
Income Tax Examination [Line Items]
Reduction in deferred tax liability, recorded as income tax benefit			$ 619,000	$ 10,000
Provisional reasonable estimate related to transition tax			33,000	24,000
Sequestration charge		$ 1,000
Undistributed foreign earnings				784,000
Undistributed earnings of foreign subsidiaries, included in transition tax				635,000
Net operating loss carryforwards			171,053	414,143
Valuation allowance			18,667	16,186
Alternative minimum taxes (1)		$ 23,000	22,552	0
Unrecognized tax benefits that would affect the effective tax rate in future periods				52,000
Deferred income tax accrued interest and penalties			5,000	4,000
Decrease in unrecognized tax benefits related to federal, state and foreign tax positions				10,000
Total assets of variable interest entities			232
Total liabilities of variable interest entities			$ 0
One-time Tax Benefit, Related To Reversal Of Uncertain Tax Positions				4,000
Domestic Country
Income Tax Examination [Line Items]
Net operating loss carryforwards				323,000
Net operating loss carryforwards, expected to expire				140,000
Net operating loss carryforwards, indefinite carryforward period				183,000
Net operating loss carryforward, acquired					$ 13,000
Other Jurisdictions
Income Tax Examination [Line Items]
Net operating loss carryforwards				123,000
Net operating loss carryforwards, expiring in 2019				6,000
Net operating loss carryforwards, expiring in 2020				7,000
Net operating loss carryforwards, expiring in 2021				110,000
Foreign Country
Income Tax Examination [Line Items]
Net operating loss carryforwards				$ 13,000
Scenario, Forecast
Income Tax Examination [Line Items]
Sequestration charge	$ 1,000
Ryder Last Mile | Other Jurisdictions
Income Tax Examination [Line Items]
Net operating loss carryforward, acquired					$ 3,000

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 62,288	$ 61,649	$ 60,740
Additions based on tax positions related to the current year	3,885	3,971	3,855
Reductions due to lapse of applicable statutes of limitation	(7,354)	(3,332)	(2,946)
Gross balance at December 31	58,819	62,288	61,649
Interest and penalties	4,594	5,860	5,219
Balance at December 31	$ 63,413	$ 68,148	$ 66,868

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leased Assets [Line Items]
Impaired direct financing receivables	$ 0	$ 0
Rent expense	141,000,000	130,000,000	$ 127,000,000
Contingent rentals from operating leases	377,000,000	357,000,000	342,000,000
Direct Financing Leases
Operating Leased Assets [Line Items]
Contingent rental income	$ 18,000,000	$ 15,000,000	$ 12,000,000
Trucks and Tractors
Operating Leased Assets [Line Items]
Minimum lease term of revenue earning equipment	3 years
Maximum lease term of revenue earning equipment	7 years
Trailers
Operating Leased Assets [Line Items]
Maximum lease term of revenue earning equipment	10 years

Leases - Direct Financing and S

Leases - Direct Financing and Sales-Type Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Net investment in direct financing and sales-type leases
Total minimum lease payments receivable	$ 715,165	$ 713,857
Less: Executory costs	(206,181)	(216,754)
Minimum lease payments receivable	508,984	497,103
Less: Allowance for uncollectibles	(475)	(327)
Net minimum lease payments receivable	508,509	496,776
Unguaranteed residuals	41,044	41,937
Less: Unearned income	(89,884)	(91,870)
Net investment in direct financing and sales-type leases	459,669	446,843
Current portion	(83,962)	(81,996)
Non-current portion	$ 375,707	$ 364,847

Leases - Credit Risk Profile (D

Leases - Credit Risk Profile (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Credit risk profile by creditworthiness category of direct financing lease receivables
Credit risk profile by creditworthiness category of direct financing lease receivables, Total	$ 508,984	$ 497,103
Very low risk to low risk
Credit risk profile by creditworthiness category of direct financing lease receivables
Credit risk profile by creditworthiness category of direct financing lease receivables, Total	194,383	201,434
Moderate
Credit risk profile by creditworthiness category of direct financing lease receivables
Credit risk profile by creditworthiness category of direct financing lease receivables, Total	220,560	198,464
Moderately high to high risk
Credit risk profile by creditworthiness category of direct financing lease receivables
Credit risk profile by creditworthiness category of direct financing lease receivables, Total	$ 94,041	$ 97,205

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
As Lessor - Operating Leases
2,019	$ 1,192,786
2,020	919,089
2,021	673,875
2,022	438,477
2,023	262,677
Thereafter	231,963
Total	3,718,867
As Lessor - Direct Financing and Sales-Type Leases
2,019	115,075
2,020	117,717
2,021	96,879
2,022	70,520
2,023	44,437
Thereafter	64,356
Total	508,984
As Lessee - Operating Leases
2,019	94,697
2,020	66,420
2,021	43,985
2,022	29,797
2,023	13,701
Thereafter	29,216
Total	$ 277,816

Debt (Details)

Debt (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Short-term debt and current portion of long-term debt:
Short-term debt, weighted-average interest rate	2.69%	1.79%
Short-term debt	$ 81,522,000	$ 35,509,000
Current portion of long-term debt, including capital leases	848,430,000	790,560,000
Total short-term debt and current portion of long-term debt	929,952,000	826,069,000
Total long-term debt:
Total long-term debt	6,560,164,000	5,387,595,000
Debt issuance costs	(18,088,000)	(13,453,000)
Total after fair market value adjustment	6,542,076,000	5,374,142,000
Current portion of long-term debt, including capital leases	(848,430,000)	(790,560,000)
Long-term debt	5,693,646,000	4,583,582,000
Total debt	6,623,598,000	5,409,651,000
Unamortized original issue discounts	7,000,000	6,000,000
Fair market value adjustment on notes subject to hedging	$ 10,000,000	$ 7,000,000
U.S. commercial paper
Total long-term debt:
Weighted-Average Interest Rate	2.78%	1.56%
Total long-term debt	$ 454,397,000	$ 570,218,000
Canadian commercial paper
Total long-term debt:
Weighted-Average Interest Rate	2.28%	0.00%
Total long-term debt	$ 123,491,000	$ 0
Trade receivables program
Total long-term debt:
Weighted-Average Interest Rate	3.15%	0.00%
Total long-term debt	$ 200,000,000	$ 0
Global revolving credit facility
Total long-term debt:
Weighted-Average Interest Rate	2.25%	2.80%
Total long-term debt	$ 12,581,000	$ 17,328,000
Unsecured U.S. notes – Medium-term notes
Total long-term debt:
Weighted-Average Interest Rate	3.22%	2.73%
Total long-term debt	$ 4,853,496,000	$ 4,006,899,000
Unsecured U.S. obligations, principally bank term loans
Total long-term debt:
Weighted-Average Interest Rate	3.50%	2.79%
Total long-term debt	$ 50,000,000	$ 50,000,000
Unsecured foreign obligations
Total long-term debt:
Weighted-Average Interest Rate	1.61%	1.50%
Total long-term debt	$ 216,719,000	$ 230,380,000
Asset-Backed US Obligations
Total long-term debt:
Weighted-Average Interest Rate	2.37%	1.85%
Total long-term debt	$ 627,707,000	$ 491,899,000
Capital lease obligations
Total long-term debt:
Weighted-Average Interest Rate	4.20%	3.53%
Total long-term debt	$ 21,773,000	$ 20,871,000
Fair Value Hedging | Interest Rate Swap
Total long-term debt:
Aggregate notional amount of interest rate swaps	725,000,000
Fair Value Hedging | Designated as Hedging Instrument | Interest Rate Swap
Total long-term debt:
Aggregate notional amount of interest rate swaps	$ 725,000,000	$ 825,000,000

Debt - Maturity of Debt (Detail

Debt - Maturity of Debt (Details) $ in Thousands	Dec. 31, 2018USD ($)
Capital Leases
Capital leases, 2019	$ 7,364
Capital leases, 2020	4,729
Capital leases, 2021	4,040
Capital leases, 2022	2,732
Capital leases, 2023	1,213
Capital leases, Thereafter	5,162
Capital leases, Total	25,240
Debt
Debt, 2019	922,588
Debt, 2020	1,290,370
Debt, 2021	1,058,104
Debt, 2022	717,413
Debt, 2023	2,334,059
Debt, Thereafter	297,379
Debt, Total	6,619,913
Maturities of debt
Imputed interest	(3,467)
Present value of minimum capitalized lease payments	21,773
Current portion	(7,364)
Long-term capitalized lease obligation	$ 14,409

Debt - Narrative (Details)

Debt - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)instution	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity under global revolving credit facility	$ 1,400,000,000
Number of lending institutions | instution	12
Basis points	10.00%
Debt to consolidated net worth ratio	184.00%
Amount available under the credit facility, net of outstanding commercial paper borrowings	$ 733,000,000
Long-term debt	6,560,164,000	$ 5,387,595,000
Current portion of long-term debt		16,000,000
Short-term debt classified as long-term	50,000,000
Proceeds from financing transactions	225,000,000
Total available proceeds under trade receivables purchase and sale program	$ 225,000,000
Debt instruments purchase price percentage	101.00%
Total fair value of debt	$ 5,970,000,000	4,950,000,000
Commercial Paper
Debt Instrument [Line Items]
Long-term debt	577,888,000
U.S. commercial paper
Debt Instrument [Line Items]
Long-term debt	454,397,000	570,218,000
Trade receivables program
Debt Instrument [Line Items]
Long-term debt	200,000,000	0
Unsecured U.S. obligations, principally bank term loans
Debt Instrument [Line Items]
Long-term debt	50,000,000	$ 50,000,000
Current portion of long-term debt	250,000,000
Unsecured Medium Term Notes Due March 2023
Debt Instrument [Line Items]
Face amount of unsecured medium-term notes issued	$ 1,500,000,000
Minimum
Debt Instrument [Line Items]
Basis points	0.075%
Maximum
Debt Instrument [Line Items]
Basis points	0.20%
Debt to consolidated net worth ratio	300.00%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity under global revolving credit facility	$ 75,000,000
Letter of credit outstanding amount	$ 0

Derivatives (Details)

Derivatives (Details) - Interest Rate Swap - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Fair Value Hedging
Summarized details of swaps outstanding and the related hedged items
Aggregate notional amount	$ 725,000,000
Derivative, fair value	10,000,000	$ 7,000,000
Cash Flow Hedging
Summarized details of swaps outstanding and the related hedged items
Aggregate notional amount	$ 15,492,000

Guarantees (Details)

Guarantees (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Guarantees [Abstract]
Letters of credit	$ 253,259	$ 238,610
Surety bonds	$ 121,757	$ 111,007

Share Repurchase Programs (Deta

Share Repurchase Programs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accelerated Share Repurchases [Line Items]
Common stock repurchases	$ 30,810	$ 78,316	$ 37,274
December 2013 Anti-Dilutive Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Common stock repurchases	$ 31,000	$ 78,000	$ 37,000
Common Stock
Accelerated Share Repurchases [Line Items]
Repurchased and retired shares (in shares)	424,819	1,086,901	536,298
Common stock repurchases	$ 212	$ 543	$ 268
December 2015 Program
Accelerated Share Repurchases [Line Items]
Maximum number of share repurchases authorization (in shares)		1,500,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,841,671	$ 2,057,656	$ 1,987,111
Amortization	21,077	20,486	19,041
Other current period change	(124,328)	106,045	(140,338)
Adoption of new accounting standard	(100,567)		20,396
Ending balance	2,910,327	2,841,671	2,057,656
Currency Translation Adjustments and Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(140,438)	(206,610)	(136,020)
Amortization	0	0	0
Other current period change	(58,960)	66,172	(70,590)
Ending balance	(199,398)	(140,438)	(206,610)
Net Actuarial Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(560,153)	(620,292)	(576,993)
Amortization	20,773	20,267	18,876
Other current period change	(62,017)	39,872	(62,175)
Adoption of new accounting standard	(98,987)
Ending balance	(700,384)	(560,153)	(620,292)
Prior Service Credit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6,910)	(7,130)	278
Amortization	304	219	165
Other current period change	(3,351)	1	(7,573)
Adoption of new accounting standard	(1,580)
Ending balance	(11,537)	(6,910)	(7,130)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(707,501)	(834,032)	(712,735)
Ending balance	$ (911,319)	$ (707,501)	$ (834,032)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings per share — Basic:
Earnings from continuing operations	$ 108,645	$ 89,511	$ 43,519	$ 33,932	$ 643,318	$ 59,040	$ 51,395	$ 38,536	$ 275,607	$ 792,289	$ 265,232
Less: Distributed and undistributed earnings allocated to unvested stock									(998)	(2,853)	(842)
Earnings from continuing operations available to common shareholders — Basic									$ 274,609	$ 789,436	$ 264,390
Weighted average common shares outstanding— Basic (in shares)									52,390	52,613	53,015
Earnings from continuing operations per common share — Basic (in dollars per share)	$ 2.07	$ 1.70	$ 0.83	$ 0.65	$ 12.22	$ 1.12	$ 0.97	$ 0.73	$ 5.24	$ 15	$ 4.99
Earnings per share — Diluted:
Earnings from continuing operations	$ 108,645	$ 89,511	$ 43,519	$ 33,932	$ 643,318	$ 59,040	$ 51,395	$ 38,536	$ 275,607	$ 792,289	$ 265,232
Less: Distributed and undistributed earnings allocated to unvested stock									(995)	(2,835)	(838)
Earnings from continuing operations available to common shareholders — Diluted									$ 274,612	$ 789,454	$ 264,394
Weighted average common shares outstanding— Basic (in shares)									52,390	52,613	53,015
Effect of dilutive equity awards (in shares)									306	375	346
Weighted average common shares outstanding— Diluted (in shares)									52,696	52,988	53,361
Earnings from continuing operations per common share — Diluted (in dollars per share)	$ 2.06	$ 1.69	$ 0.82	$ 0.64	$ 12.12	$ 1.12	$ 0.97	$ 0.72	$ 5.21	$ 14.90	$ 4.95
Anti-dilutive equity awards and market-based restrictive stock rights not included above (in shares)									1,330	881	716

Share-Based Compensation Plan_2

Share-Based Compensation Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based compensation expense and income tax benefits recognized during the periods
Non-operating pension costs and share-based compensation expense	$ 24,952	$ 18,967	$ 18,664
Income tax benefit	(4,615)	(6,628)	(6,644)
Share-based compensation expense, net of tax	20,337	12,339	12,020
Stock option and stock purchase plans
Share-based compensation expense and income tax benefits recognized during the periods
Stock option and stock purchase plans and unvested stock awards	7,703	7,869	7,244
Unvested stock awards
Share-based compensation expense and income tax benefits recognized during the periods
Stock option and stock purchase plans and unvested stock awards	$ 17,249	$ 11,098	$ 11,420

Share-Based Compensation Plan_3

Share-Based Compensation Plans - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)awardshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized pre-tax compensation expense | $	$ 28
Unrecognized compensation costs weighted-average period	1 year 9 months
Total fair value of equity awards | $	$ 18	$ 22	$ 17
Unused shares (in shares)	1,500,000
Share-based compensation plan, vesting period	1 year
Shares authorized under stock option plans, exercise price range	10 years
Number of performance periods for market-based restricted stock | award	3
Total intrinsic value of options exercised | $	$ 3	5	5
Total cash received from employees under compensation arrangements | $	17	21	18
Tax benefits generated from share-based employee compensation arrangements | $	$ 0.3	0.2	$ 0.6
Time Vested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	3 years
Market Based Cash Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability related to the cash awards | $	$ 1	$ 1
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	3 years
Stock Option And Nonvested Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unused shares (in shares)	3,300,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unused shares (in shares)	600,000
Percentage of payroll deductions of eligible compensation	15.00%
Percentage of share purchased fair market value	85.00%
Employee stock purchase plan holding period	90 days
Share authorized (in shares)	5,500,000
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	98,000	79,000	45,000
ROC/COC Performance Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	3 years
Granted (in shares)	51,000
SRG, Performance Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	3 years
Granted (in shares)	51,000
Market Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance periods for market-based restricted stock | award	3
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential performance award percentage	150.00%
Maximum | ROC/COC Performance Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential performance award percentage	200.00%
Maximum | SRG, Performance Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential performance award percentage	200.00%
Maximum | Market Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential performance award percentage	150.00%
Year One | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Year One | Market Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	1 year
Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Year Two | Market Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	2 years
Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Year Three | Market Based Restricted Stock Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan, vesting period	3 years

Share-Based Compensation Plan_4

Share-Based Compensation Plans - Stock Options, Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at January 1 (in shares) | shares	1,717
Granted (in shares) | shares	347
Exercised (in shares) | shares	(140)
Forfeited or expired (in shares) | shares	(62)
Options outstanding at December 31 (in shares) | shares	1,862
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding at January 1 (in dollars per share) | $ / shares	$ 70.47
Granted (in dollars per share) | $ / shares	74.72
Exercised (in dollars per share) | $ / shares	55.99
Forfeited or expired (in dollars per share) | $ / shares	72.62
Options outstanding at December 31 (in dollars per share) | $ / shares	$ 72.28
Summary of stock option activity
Vested and expected to vest at December 31 (in shares) | shares	1,803
Exercisable at December 31 (in shares) | shares	1,093
Vested and expected to vest at December 31, Weighted-Average Exercise Price (in dollars per share) | $ / shares	$ 72.25
Exercisable at December 31, Weighted-Average Exercise Price (in dollars per share) | $ / shares	$ 72.74
Outstanding, weighted average remaining contractual term	7 years
Vested and expected to vest at December 31 in years	7 years 2 months
Exercisable at December 31, in years	6 years 1 month
Options outstanding at December 31, Aggregate Intrinsic Value | $	$ 0
Vested and expected to vest at December 31, Aggregate Intrinsic Value | $	0
Exercisable at December 31, Aggregate Intrinsic Value | $	$ 0

Share-Based Compensation Plan_5

Share-Based Compensation Plans - Restricted Stock Awards, Activity (Details) - Restricted Stock shares in Thousands	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Time-Vested
Shares
Unvested stock outstanding at January 1 (in shares) | shares	433
Granted (in shares) | shares	173
Vested (in shares) | shares	(89)
Forfeited (in shares) | shares	(29)
Unvested stock outstanding at December 31 (in shares) | shares	488
Weighted- Average Grant Date Fair Value
Nonvested stock outstanding at January 1 (in dollars per share) | $ / shares	$ 65.91
Granted (in dollars per share) | $ / shares	74.05
Vested (in dollars per share) | $ / shares	79.02
Forfeited (in dollars per share) | $ / shares	70.92
Nonvested stock outstanding at December 31 (in dollars per share) | $ / shares	$ 66.11
Market-Based
Shares
Unvested stock outstanding at January 1 (in shares) | shares	92
Granted (in shares) | shares	0
Vested (in shares) | shares	(7)
Forfeited (in shares) | shares	(17)
Unvested stock outstanding at December 31 (in shares) | shares	68
Weighted- Average Grant Date Fair Value
Nonvested stock outstanding at January 1 (in dollars per share) | $ / shares	$ 68.26
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	89.40
Forfeited (in dollars per share) | $ / shares	75.14
Nonvested stock outstanding at December 31 (in dollars per share) | $ / shares	$ 64.26
Performance-Based
Shares
Unvested stock outstanding at January 1 (in shares) | shares	94
Granted (in shares) | shares	200
Vested (in shares) | shares	(20)
Forfeited (in shares) | shares	(45)
Unvested stock outstanding at December 31 (in shares) | shares	229
Weighted- Average Grant Date Fair Value
Nonvested stock outstanding at January 1 (in dollars per share) | $ / shares	$ 78.91
Granted (in dollars per share) | $ / shares	73.88
Vested (in dollars per share) | $ / shares	78.58
Forfeited (in dollars per share) | $ / shares	76.02
Nonvested stock outstanding at December 31 (in dollars per share) | $ / shares	$ 73.41

Share-Based Compensation Plan_6

Share-Based Compensation Plans - Weighted Average Exercise Price, ESPP (Details) - Employee Stock Purchase Plan - $ / shares shares in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted and exercised (in shares)	199	160	192,000
Weighted average exercise plan (in usd per share)	$ 54.89	$ 66.72	$ 56.17

Share-Based Compensation Plan_7

Share-Based Compensation Plans - Weighted Average Assumptions, Options Granted (Details) - Equity Options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Weighted-average assumptions used for options granted
Expected dividends	2.80%	2.30%	3.00%
Expected volatility	29.40%	28.50%	35.20%
Risk-free rate	2.70%	1.90%	1.10%
Expected term in years	4 years 4 months 10 days	4 years 4 months 10 days	4 years 3 months 18 days
Grant-date fair value (in dollars per share)	$ 15.89	$ 15.71	$ 12.53

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Age	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accrued pension liability	$ 460,733	$ 416,280
One-time non-cash charge	8,000
Pension plans, accumulated other comprehensive income (loss)	13,000
Pension related adjustments	0	(5,454)	$ (7,650)
Expense related to defined contribution savings plans	40,000	39,000	38,000
Deferred compensation	59,803	62,680
Non-qualified supplemental pension plan
Defined Benefit Plan Disclosure [Line Items]
Accrued pension liability	53,000	55,000
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension settlement expense	0	71,299
Reduction to projected benefit obligation	0	66,423
Net actuarial loss to be recognized	(32,000)
Required pension contributions to our pension plans	32,000
Benefit obligation	$ 2,135,143	2,298,902	2,228,762
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Maximum age limit of qualified retirees for health care benefits | Age	65
Benefit obligation	$ 19,000	21,000
Company Administered Plan [Member] | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension settlement expense	$ 3,061	0	$ 0
United States
Defined Benefit Plan Disclosure [Line Items]
U.S. pension plan assets percentage of total pension plan assets	72.00%
Rabbi Trusts [Member] | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Assets held in trust	$ 60,000	63,000
Value of common stock issued in trust	$ 1,000	$ 2,000

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension Expense From Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Union-administered plans
Amortization of:
Postretirement benefit income	$ 9,326	$ 15,553	$ 9,597
Pension Plans
Pension expense from continuing operations
Service cost	12,108	12,345
Interest cost	78,234	86,431
Pension settlement expense	0	71,299
Amortization of:
Postretirement benefit income	29,892	56,833	61,215
Pension Plans | Company-administered plans:
Pension expense from continuing operations
Service cost	12,108	12,345	12,977
Interest cost	78,234	86,431	94,476
Expected return on plan assets	(101,980)	(91,062)	(90,588)
Pension settlement expense	3,061	0	0
Amortization of:
Net actuarial gain	28,593	32,987	31,777
Prior service cost	550	579	2,976
Postretirement benefit income	20,566	41,280	51,618
Pension Plans | Union-administered plans
Amortization of:
Postretirement benefit income	9,326	15,553	9,597
Pension Plans | United States | Company-administered plans:
Amortization of:
Postretirement benefit income	28,043	43,717	53,319
Pension Plans | Domestic Plan | Company-administered plans:
Amortization of:
Postretirement benefit income	$ (7,477)	$ (2,437)	$ (1,701)

Employee Benefit Plans - Weight

Employee Benefit Plans - Weighted-Average Assumptions, Pension Plans (Details) - Pension Plans	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
United States
Summary of weighted-average actuarial assumptions used in determining annual pension expense
Discount rate	3.70%	4.20%	4.50%
Rate of increase in compensation levels	3.00%	3.00%	3.00%
Expected long-term rate of return on plan assets	5.40%	5.40%	5.85%
Gain and loss amortization period (years)	21 years	21 years	23 years
Foreign Plan
Summary of weighted-average actuarial assumptions used in determining annual pension expense
Discount rate	2.70%	3.90%	3.70%
Rate of increase in compensation levels	3.08%	3.10%	3.10%
Expected long-term rate of return on plan assets	5.50%	5.48%	5.44%
Gain and loss amortization period (years)	26 years	26 years	27 years

Employee Benefit Plans - Obliga

Employee Benefit Plans - Obligations and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in plan assets:
Funded percent	81.00%	84.00%
Pension Plans
Change in benefit obligations:
Benefit obligations at January 1	$ 2,298,902	$ 2,228,762
Service cost	12,108	12,345
Interest cost	78,234	86,431
Actuarial (gain) loss	(120,934)	100,905
Pension annuity settlement	0	(66,423)
Benefits paid	(104,560)	(104,054)
Foreign currency exchange rate changes	(28,607)	40,936
Benefit obligations at December 31	2,135,143	2,298,902	$ 2,228,762
Change in plan assets:
Fair value of plan assets at January 1	1,941,330	1,787,075
Actual return on plan assets	(108,386)	244,916
Employer contribution	27,741	41,219
Benefits paid	(104,560)	(104,054)
Foreign currency exchange rate changes	(30,582)	43,473
Fair value of plan assets at December 31	1,725,543	1,941,330	1,787,075
Funded status	(409,600)	(357,572)
Company Administered Plan [Member] | Pension Plans
Change in benefit obligations:
Service cost	12,108	12,345	12,977
Interest cost	$ 78,234	$ 86,431	$ 94,476

Employee Benefit Plans - Funded

Employee Benefit Plans - Funded Status of Pension Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amounts recognized in the Consolidated Balance Sheets
Noncurrent asset	$ 51,133	$ 58,708
Pension Plans
Amounts recognized in the Consolidated Balance Sheets
Noncurrent asset	51,133	58,708
Current liability	(3,754)	(3,863)
Noncurrent liability	(456,979)	(412,417)
Net amount recognized	(409,600)	(357,572)
Amounts recognized in accumulated other comprehensive loss (pre-tax)
Prior service cost	14,519	11,135
Net actuarial loss	929,995	878,386
Net amount recognized	$ 944,514	$ 889,521

Employee Benefit Plans - Actuar

Employee Benefit Plans - Actuarial Assumptions to Determind Funded Status (Details)	Dec. 31, 2018	Dec. 31, 2017
United States
Summary of weighted-average actuarial assumptions used in determining funded status
Discount rate	4.35%	3.70%
Rate of increase in compensation levels	3.00%	3.00%
Foreign Plan
Summary of weighted-average actuarial assumptions used in determining funded status
Discount rate	3.04%	2.70%
Rate of increase in compensation levels	3.08%	3.10%

Employee Benefit Plans - ABO an

Employee Benefit Plans - ABO and PBO (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Summary of pension obligations greater than fair value of related plan assets
Total accumulated benefit obligations	$ 2,114,910	$ 2,274,746
Plans with pension obligations in excess of plan assets:
PBO	1,710,759	1,812,062
ABO	1,691,058	1,788,384
Fair value of plan assets	1,250,032	1,395,790
United States
Summary of pension obligations greater than fair value of related plan assets
Total accumulated benefit obligations	1,685,270	1,781,882
Plans with pension obligations in excess of plan assets:
PBO	1,703,847	1,804,260
ABO	1,685,270	1,781,882
Fair value of plan assets	1,250,032	1,395,790
Foreign Plan
Summary of pension obligations greater than fair value of related plan assets
Total accumulated benefit obligations	429,640	492,864
Plans with pension obligations in excess of plan assets:
PBO	6,912	7,802
ABO	5,788	6,502
Fair value of plan assets	$ 0	$ 0

Employee Benefit Plans - Fair V

Employee Benefit Plans - Fair Value of Pension Plan Assets (Details) - Pension Plans - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,725,543	$ 1,941,330	$ 1,787,075
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,603,707	1,826,737
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	121,836	114,593	$ 102,884
U.S. common collective trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	315,741	443,405
U.S. common collective trusts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.S. common collective trusts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	315,741	443,405
U.S. common collective trusts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Foreign common collective trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	352,040	458,111
Foreign common collective trusts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Foreign common collective trusts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	352,040	458,111
Foreign common collective trusts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	79,155	85,117
Corporate bonds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate bonds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	79,155	85,117
Corporate bonds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common collective trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	856,771	840,104
Common collective trusts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common collective trusts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	856,771	840,104
Common collective trusts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Private equity and hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	121,836	114,593
Private equity and hedge funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Private equity and hedge funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Private equity and hedge funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 121,836	$ 114,593

Employee Benefit Plans - Change

Employee Benefit Plans - Changes in Pension Plan Level 3 Assets (Details) - Pension Plans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary of changes in fair value of the pension plans' level 3 assets
Fair value of plan assets at January 1	$ 1,941,330	$ 1,787,075
Return on plan assets:
Fair value of plan assets at December 31	1,725,543	1,941,330
Level 3
Summary of changes in fair value of the pension plans' level 3 assets
Fair value of plan assets at January 1	114,593	102,884
Return on plan assets:
Relating to assets still held at the reporting date	6,762	10,795
Relating to assets sold during the period	(38)	(405)
Purchases, sales, settlements and expenses	519	1,319
Fair value of plan assets at December 31	$ 121,836	$ 114,593

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Benefit Payments (Details) - Pension Plans $ in Thousands	Dec. 31, 2018USD ($)
Pension benefits expected to be paid
2,019	$ 104,596
2,020	107,603
2,021	112,469
2,022	116,601
2,023	120,086
2024-2028	$ 639,201

Employee Benefit Plans - Multie

Employee Benefit Plans - Multiemployer Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Western Conference Teamsters
Defined Benefit Plan Disclosure [Line Items]
Employer Identification Number	91-6145047
Pension Protection Act Zone Status	Green	Green
FIP/RP Status Pending/ Implemented	No
Ryder Contributions	$ 3,488	$ 3,245	$ 2,613
Surcharge Imposed	No
Expiration Date(s) of Collective-Bargaining Agreement(s)	01/12/18 to 03/31/21
IAM National
Defined Benefit Plan Disclosure [Line Items]
Employer Identification Number	51-6031295
Pension Protection Act Zone Status	Green	Green
FIP/RP Status Pending/ Implemented	No
Ryder Contributions	$ 3,953	$ 3,891	4,162
Surcharge Imposed	No
Expiration Date(s) of Collective-Bargaining Agreement(s)	03/31/17 to 11/30/19
Automobile Mechanics Local No. 701
Defined Benefit Plan Disclosure [Line Items]
Employer Identification Number	36-6042061
Pension Protection Act Zone Status	Yellow	Yellow
FIP/RP Status Pending/ Implemented	FIP Adopted
Ryder Contributions	$ 1,435	$ 2,048	2,201
Surcharge Imposed	Yes
Expiration Date(s) of Collective-Bargaining Agreement(s)	10/31/17 to 05/31/19
Other funds
Defined Benefit Plan Disclosure [Line Items]
Ryder Contributions	$ 931	915	760
Union-administered plans
Defined Benefit Plan Disclosure [Line Items]
Ryder Contributions	9,807	10,099	9,736
Pension settlement (benefit) charges	(481)	5,454	(139)
Postretirement benefit income	$ 9,326	$ 15,553	$ 9,597

Environmental Matters (Details)

Environmental Matters (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)DisposalSite	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Environmental Remediation Obligations [Abstract]
Number of disposal sites | DisposalSite	19
Environmental expenses	$ 12	$ 12	$ 10
Environmental liabilities	10	10
Asset retirement obligation	$ 27	$ 26

Other Items Impacting Compara_3

Other Items Impacting Comparability (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Oct. 01, 2017	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Items Impacting Comparability [Abstract]
Restructuring charges and fees, net				$ 9,594	$ 21,405	$ 5,074
Goodwill impairment charge	$ 0	$ 0	$ 15,513	15,513	0	0
Tax reform related bonus				0	23,278	0
Operating tax adjustment				0	2,205	0
Pension related adjustments				0	5,454	7,650
Gain on sale of property				0	(24,122)	0
Restructuring and other items, net				$ 25,107	$ 28,220	$ 12,724

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 161,826	$ 129,559	$ 143,990
Income taxes paid	22,965	13,692	14,062
Changes in accounts payable related to purchases of revenue earning equipment	114,862	80,781	(142,256)
Operating and revenue earning equipment acquired under capital leases	$ 10,701	$ 7,057	$ 1,230

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Schedule of Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 68,111	$ 78,348
Restricted cash included in prepaid expenses and other current assets	0	4,674
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 68,111	$ 83,022	$ 62,639	$ 66,297

Miscellaneous Income, Net (Deta

Miscellaneous Income, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Income and Expenses [Abstract]
Gains on sales of operating property and equipment	$ 2,478	$ 26,093	$ 2,475
Insurance proceeds/recoveries	1,155	1,734	966
Contract settlement	817	1,600	0
Foreign currency transaction (losses) gains	(459)	657	1,236
Rabbi trust investment (loss) income	(3,247)	10,522	2,763
Other, net	4,643	3,639	5,628
Total	$ 5,387	$ 44,245	$ 13,068

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of segments | segment	3
Depreciation expense	$ 1,394,964	$ 1,255,175	$ 1,187,050
Acquisition payments	35,000	1,000
Central support service assets depreciation expense allocated to other business segments
Segment Reporting Information [Line Items]
Depreciation expense	$ 25,000	$ 24,000	$ 24,000

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue:
Lease and rental revenues									$ 3,508,136	$ 3,237,685	$ 3,170,952
Revenues	$ 2,258,349	$ 2,158,061	$ 2,089,338	$ 1,903,467	$ 1,931,146	$ 1,840,897	$ 1,788,028	$ 1,736,983	8,409,215	7,297,054	6,758,138
EBT:
Earnings before tax, before reconciling items									455,557	418,634	490,659
Earnings from continuing operations before income taxes	$ 111,338	$ 116,140	$ 98,283	$ 48,100	$ 78,577	$ 94,492	$ 80,854	$ 60,622	373,861	314,545	407,256
Non-operating pension costs									(7,541)	(27,741)	(37,593)
Restructuring charges and fees, net and other items									(25,107)	(21,405)	(5,074)
Eliminations
Revenue:
Revenues									(577,469)	(469,514)	(427,955)
EBT:
Earnings before tax, before reconciling items									(63,594)	(53,275)	(50,148)
Segment Reconciling Items
EBT:
Unallocated Central Support Services									(49,048)	(48,128)	(40,736)
Non-operating pension costs									(7,541)	(27,741)	(29,943)
Restructuring charges and fees, net and other items									(25,107)	(28,220)	(12,724)
Fleet Management Solutions
Revenue:
Revenues									4,677,758	4,264,057	4,128,239
EBT:
Earnings before tax, before reconciling items									324,345	313,002	371,126
Restructuring charges and fees, net and other items									(16,785)	(2,995)	(3,550)
Fleet Management Solutions | ChoiceLease
Revenue:
Lease and rental revenues									2,602,831	2,460,424	2,362,040
Fleet Management Solutions | Commercial rental
Revenue:
Lease and rental revenues									905,305	777,261	808,912
Fleet Management Solutions | ChoiceLease and commercial rental
Revenue:
Lease and rental revenues									3,508,136	3,237,685	3,170,952
Fleet Management Solutions | SelectCare
Revenue:
Lease and rental revenues									462,046	428,422	415,507
Fleet Management Solutions | Other
Revenue:
Lease and rental revenues									87,331	77,450	78,042
Fleet Management Solutions | Fuel services revenue
Revenue:
Revenue from contract with customer									620,245	520,500	463,738
Fleet Management Solutions | Operating Segments
Revenue:
Revenues									5,255,227	4,733,571	4,556,194
Fleet Management Solutions | Eliminations
Revenue:
Revenues									(577,469)	(469,514)	(427,955)
Dedicated Transportation Solutions
EBT:
Earnings before tax, before reconciling items									61,236	55,346	63,204
Restructuring charges and fees, net and other items									0	(771)	(22)
Dedicated Transportation Solutions | Operating Segments
Revenue:
Revenues									1,333,313	1,095,645	1,020,543
Supply Chain Solutions
Revenue:
Revenues									2,398,144	1,937,352
EBT:
Earnings before tax, before reconciling items									133,570	103,561	106,477
Restructuring charges and fees, net and other items									(7,668)	(2,278)	(278)
Supply Chain Solutions | Operating Segments
Revenue:
Revenues									$ 2,398,144	$ 1,937,352	$ 1,609,356

Segment Reporting - Segment Fin

Segment Reporting - Segment Financial Information (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	$ 32,493	$ 46,708	$ 56,257
Depreciation expense	1,394,964	1,255,175	1,187,050
Used vehicle sales, net	21,739	17,241	(972)
Amortization expense and other non-cash charges, net	31,153	8,335	38,857
Interest expense	178,560	140,350	147,843
Capital expenditures paid	3,050,409	1,860,436	1,905,157
Total assets	13,051,084	11,463,999	10,912,213
Acquisition payments	35,000	1,000
Operating Segments | Fleet Management Solutions
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	6,340	5,339	5,464
Depreciation expense	1,354,544	1,218,492	1,156,888
Used vehicle sales, net	22,021	17,553	(724)
Amortization expense and other non-cash charges, net	26,203	29,550	34,652
Interest expense	179,562	144,137	151,297
Capital expenditures paid	2,979,482	1,783,917	1,814,146
Total assets	11,704,332	10,388,022	9,954,230
Operating Segments | Dedicated Transportation Solutions
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	1,831	1,270	1,254
Depreciation expense	4,773	3,520	3,222
Used vehicle sales, net	(43)	(113)	(90)
Amortization expense and other non-cash charges, net	542	1,015	1,027
Interest expense	(2,262)	(1,659)	(1,901)
Capital expenditures paid	1,444	3,375	2,551
Total assets	324,906	278,863	257,762
Operating Segments | Supply Chain Solutions
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	5,283	2,982	2,764
Depreciation expense	34,729	32,255	25,956
Used vehicle sales, net	(239)	(199)	(158)
Amortization expense and other non-cash charges, net	3,355	(21,967)	3,215
Interest expense	1,067	(2,446)	(1,663)
Capital expenditures paid	45,348	50,117	64,186
Total assets	1,085,001	870,048	717,915
Central Support Service
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	19,039	37,117	46,775
Depreciation expense	918	908	984
Used vehicle sales, net	0	0	0
Amortization expense and other non-cash charges, net	1,053	(263)	(37)
Interest expense	193	318	110
Capital expenditures paid	24,135	23,027	24,274
Total assets	297,709	196,686	199,745
Eliminations
Segment Reporting Information [Line Items]
Non-operating pension costs and share-based compensation expense	0	0	0
Depreciation expense	0	0	0
Used vehicle sales, net	0	0	0
Amortization expense and other non-cash charges, net	0	0	0
Interest expense	0	0	0
Capital expenditures paid	0	0	0
Total assets	$ (360,864)	$ (269,620)	$ (217,439)

Segment Reporting - Geographic

Segment Reporting - Geographic Information (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	$ 10,341,783	$ 9,131,966	$ 8,893,592
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	9,114,595	7,935,167	7,854,845
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	648,856	623,576	532,403
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	522,633	527,869	472,027
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	55,462	44,997	33,979
Singapore
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	237	357	338
Foreign
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets:	$ 1,227,188	$ 1,196,799	$ 1,038,747

Quarterly Information (Unaudi_3

Quarterly Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
QUARTERLY INFORMATION
Revenue	$ 2,258,349	$ 2,158,061	$ 2,089,338	$ 1,903,467	$ 1,931,146	$ 1,840,897	$ 1,788,028	$ 1,736,983	$ 8,409,215	$ 7,297,054	$ 6,758,138
Earnings from Continuing Operations Before Income Taxes	111,338	116,140	98,283	48,100	78,577	94,492	80,854	60,622	373,861	314,545	407,256
Earnings from Continuing Operations	108,645	89,511	43,519	33,932	643,318	59,040	51,395	38,536	275,607	792,289	265,232
Net Earnings	$ 108,784	$ 88,751	$ 42,258	$ 33,505	$ 643,808	$ 58,750	$ 50,868	$ 38,406	$ 273,298	$ 791,832	$ 263,069
Earnings from Continuing Operations per Common Share
Earnings from continuing operations per common share — Basic (in dollars per share)	$ 2.07	$ 1.70	$ 0.83	$ 0.65	$ 12.22	$ 1.12	$ 0.97	$ 0.73	$ 5.24	$ 15	$ 4.99
Earnings from continuing operations per common share — Diluted (in dollars per share)	2.06	1.69	0.82	0.64	12.12	1.12	0.97	0.72	5.21	14.90	4.95
Net Earnings per Common Share
Basic (in dollars per share)	2.07	1.69	0.80	0.64	12.23	1.12	0.96	0.72	5.20	15	4.95
Diluted (in dollars per share)	$ 2.06	$ 1.68	$ 0.80	$ 0.63	$ 12.13	$ 1.11	$ 0.96	$ 0.72	$ 5.17	$ 14.89	$ 4.91

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Benefit (charge) within operating expense	$ (1,000)	$ 9,000	$ (9,000)
Accounts receivable allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	13,847	14,915	15,560
Charged to Earnings	10,890	12,335	13,118
Transferred from (to) Other Accounts	0	0	0
Deductions	7,555	13,403	13,763
Balance at End of Period	17,182	13,847	14,915
Self-insurance accruals
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	348,612	336,901	311,821
Charged to Earnings	359,528	327,306	324,673
Transferred from (to) Other Accounts	82,904	74,153	71,703
Deductions	433,518	389,748	371,296
Balance at End of Period	357,526	348,612	336,901
Valuation allowance on deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	18,667	16,387	14,991
Charged to Earnings	(534)	2,213	98
Transferred from (to) Other Accounts	0	0	0
Deductions	1,947	(67)	(1,298)
Balance at End of Period	$ 16,186	$ 18,667	$ 16,387