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Quarterly Results (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results (Unaudited) |
NOTE 11. | QUARTERLY RESULTS (UNAUDITED)
|  |  | 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |
| 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Revenues1 |  | $ | 1,901,864 |  |  |  | 2,580,632 |  |  |  | 2,464,797 |  |  |  | 3,169,188 |
| Operating income1 |  |  | 159,055 |  |  |  | 247,626 |  |  |  | 251,945 |  |  |  | 281,811 |
| Net earnings |  |  | 122,782 |  |  |  | 184,188 |  |  |  | 191,719 |  |  |  | 199,525 |
| Net earnings attributable to shareholders |  |  | 122,344 |  |  |  | 183,869 |  |  |  | 191,307 |  |  |  | 198,620 |
| Diluted earnings attributable to shareholders per share |  |  | 0.71 |  |  |  | 1.09 |  |  |  | 1.12 |  |  |  | 1.16 |
| Basic earnings attributable to shareholders per share |  |  | 0.73 |  |  |  | 1.10 |  |  |  | 1.14 |  |  |  | 1.17 |
| 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Revenues2 |  | $ | 2,020,051 |  |  |  | 2,035,579 |  |  |  | 2,074,855 |  |  |  | 2,044,941 |
| Operating income2 |  |  | 187,601 |  |  |  | 192,201 |  |  |  | 206,550 |  |  |  | 180,340 |
| Net earnings |  |  | 140,111 |  |  |  | 153,530 |  |  |  | 160,627 |  |  |  | 137,748 |
| Net earnings attributable to shareholders |  |  | 139,699 |  |  |  | 153,149 |  |  |  | 160,221 |  |  |  | 137,326 |
| Diluted earnings attributable to shareholders per share |  |  | 0.80 |  |  |  | 0.88 |  |  |  | 0.92 |  |  |  | 0.79 |
| Basic earnings attributable to shareholders per share |  |  | 0.81 |  |  |  | 0.90 |  |  |  | 0.94 |  |  |  | 0.81 |
The sum of quarterly per share data may not equal the per share total reported for the year.
| 1 | During the fourth quarter of 2020, the Company’s services experienced record high airfreight tonnage and ocean volumes and high average sell rates and buy rates, when compared to the third quarter of 2020 and the prior year, as demand grew while capacity shortages persisted in particular on exports from North Asia. In the fourth quarter of 2020, the People's Republic of China, including Hong Kong, represented 34% of the Company’s total revenues and 27% of the Company’s total operating income. Airfreight services revenues accounted for the largest increase at 41% from the third quarter of 2020 to the fourth quarter of 2020 and represented 49% of the Company’s total revenues in the fourth quarter of 2020.
| 2 | The fourth quarter of 2019 was significantly impacted by declines in results in our China operations due to the slowing of trade to and from China, which impacted overall freight movement around the globe. In the fourth quarter of 2019, the People's Republic of China, including Hong Kong, represented 25% of the Company’s total revenues and the Company’s total operating income.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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