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Cyber-Attack | 12 Months Ended
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Dec. 31, 2023
Unusual or Infrequent Items, or Both [Abstract] |
Cyber-Attack | NOTE 11. CYBER-ATTACK In the first quarter of 2022, the Company was the subject of a targeted cyber-attack, which resulted in having to shut down most of its connectivity, operating and accounting systems globally for a period of approximately three weeks to manage the safety of its overall global systems environment. In 2022 the Company incurred, as a result of its inability to timely process and move shipments through ports during the downtime, approximately $47 million in estimated incremental demurrage charges, net of recoveries, where the Company has direct liability for this obligation. These costs are recorded in customs brokerage and other services expenses. The Company incurred investigation, recovery, and remediation expenses, including costs to recover its operational and accounting systems and to enhance cybersecurity protections. The Company also recorded estimated liabilities for potential shipment-related claims. In 2022, the total amount recorded for estimated potential shipment-related claims was approximately $18 million. These costs are recorded in other operating expenses. In 2023, incremental charges recorded related to the cyber-attack were insignificant. Since the cyber-attack, the company incurred cumulative additional expenses of $59 million, net of recoveries and adjustments to prior estimates, and experienced a loss of revenues that cannot be quantified as a result of this attack.

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