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Business Segment Information | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Business Segment Information | Note 8. Business Segment Information The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, directly related cost of transportation and other expenses for each of the Company’s three primary sources of revenue, salaries and other operating expenses, operating income, identifiable assets, capital expenditures and equity generated in each of these geographical areas when evaluating the effectiveness of geographic management. Transactions among the Company’s various offices are conducted using the same arms-length pricing methodologies the Company uses when its offices transact business with independent agents. Certain costs are allocated among the segments based on the relative value of the underlying services, which can include allocation based on actual costs incurred or estimated cost plus a profit margin. Financial information regarding the Company’s operations by geographic area is as follows:
|  | UNITED STATES |  | OTHER NORTH AMERICA |  |  | LATIN AMERICA |  |  | NORTH ASIA |  |  | SOUTH ASIA |  |  | EUROPE |  |  | MIDDLE EAST, AFRICA AND INDIA |  |  | ELIMI- NATIONS |  |  | CONSOLI- DATED |
For the three months ended September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 854,679 |  |  | 114,264 |  |  |  | 61,981 |  |  |  | 914,417 |  |  |  | 445,308 |  |  |  | 433,660 |  |  |  | 177,145 |  |  |  | (1,323 | ) |  |  | 3,000,131 |
Directly related cost of transportation and other expenses 1 |  | $ | 443,930 |  |  | 67,626 |  |  |  | 38,973 |  |  |  | 763,781 |  |  |  | 369,905 |  |  |  | 279,235 |  |  |  | 131,098 |  |  |  | (584 | ) |  |  | 2,093,964 |
Salaries and other operating expenses 2 |  | $ | 253,452 |  |  | 35,261 |  |  |  | 18,605 |  |  |  | 86,566 |  |  |  | 51,307 |  |  |  | 126,917 |  |  |  | 33,283 |  |  |  | (748 | ) |  |  | 604,643 |
Operating income |  | $ | 157,297 |  |  | 11,377 |  |  |  | 4,403 |  |  |  | 64,070 |  |  |  | 24,096 |  |  |  | 27,508 |  |  |  | 12,764 |  |  |  | 9 |  |  |  | 301,524 |
Identifiable assets at period end |  | $ | 2,611,417 |  |  | 192,370 |  |  |  | 108,985 |  |  |  | 727,724 |  |  |  | 376,283 |  |  |  | 863,840 |  |  |  | 319,627 |  |  |  | (29,329 | ) |  |  | 5,170,917 |
Capital expenditures |  | $ | 9,299 |  |  | 198 |  |  |  | 101 |  |  |  | 296 |  |  |  | 839 |  |  |  | 1,548 |  |  |  | 10 |  |  |  | — |  |  |  | 12,291 |
Equity |  | $ | 1,628,893 |  |  | 35,825 |  |  |  | 42,670 |  |  |  | 221,519 |  |  |  | 124,387 |  |  |  | 182,515 |  |  |  | 164,665 |  |  |  | (41,304 | ) |  |  | 2,359,170 |
For the three months ended September 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 784,503 |  |  | 106,293 |  |  |  | 47,327 |  |  |  | 515,340 |  |  |  | 207,006 |  |  |  | 410,904 |  |  |  | 119,849 |  |  |  | (1,221 | ) |  |  | 2,190,001 |
Directly related cost of transportation and other expenses 1 |  | $ | 421,432 |  |  | 63,671 |  |  |  | 28,409 |  |  |  | 398,681 |  |  |  | 145,292 |  |  |  | 263,524 |  |  |  | 81,643 |  |  |  | (541 | ) |  |  | 1,402,111 |
Salaries and other operating expenses 2 |  | $ | 261,323 |  |  | 38,275 |  |  |  | 16,405 |  |  |  | 66,546 |  |  |  | 42,138 |  |  |  | 120,436 |  |  |  | 27,351 |  |  |  | (653 | ) |  |  | 571,821 |
Operating income |  | $ | 101,748 |  |  | 4,347 |  |  |  | 2,513 |  |  |  | 50,113 |  |  |  | 19,576 |  |  |  | 26,944 |  |  |  | 10,855 |  |  |  | (27 | ) |  |  | 216,069 |
Identifiable assets at period end |  | $ | 2,572,404 |  |  | 200,711 |  |  |  | 110,708 |  |  |  | 512,746 |  |  |  | 217,018 |  |  |  | 726,729 |  |  |  | 260,619 |  |  |  | (22,814 | ) |  |  | 4,578,121 |
Capital expenditures |  | $ | 3,762 |  |  | 302 |  |  |  | 84 |  |  |  | 168 |  |  |  | 409 |  |  |  | 1,369 |  |  |  | 1,899 |  |  |  | — |  |  |  | 7,993 |
Equity |  | $ | 1,797,123 |  |  | 46,264 |  |  |  | 54,096 |  |  |  | 225,229 |  |  |  | 91,712 |  |  |  | 154,617 |  |  |  | 161,882 |  |  |  | (39,449 | ) |  |  | 2,491,474 |
|  | UNITED STATES |  | OTHER NORTH AMERICA |  |  | LATIN AMERICA |  |  | NORTH ASIA |  |  | SOUTH ASIA |  |  | EUROPE |  |  | MIDDLE EAST, AFRICA AND INDIA |  |  | ELIMI- NATIONS |  |  | CONSOLI- DATED |
For the nine months ended September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,385,392 |  |  | 331,837 |  |  |  | 151,787 |  |  |  | 2,096,709 |  |  |  | 960,970 |  |  |  | 1,241,432 |  |  |  | 481,600 |  |  |  | (3,917 | ) |  |  | 7,645,810 |
Directly related cost of transportation and other expenses 1 |  | $ | 1,270,981 |  |  | 199,710 |  |  |  | 88,077 |  |  |  | 1,702,401 |  |  |  | 757,167 |  |  |  | 796,205 |  |  |  | 353,839 |  |  |  | (1,728 | ) |  |  | 5,166,652 |
Salaries and other operating expenses 2 |  | $ | 772,835 |  |  | 102,684 |  |  |  | 49,920 |  |  |  | 224,588 |  |  |  | 135,303 |  |  |  | 363,718 |  |  |  | 92,099 |  |  |  | (2,208 | ) |  |  | 1,738,939 |
Operating income |  | $ | 341,576 |  |  | 29,443 |  |  |  | 13,790 |  |  |  | 169,720 |  |  |  | 68,500 |  |  |  | 81,509 |  |  |  | 35,662 |  |  |  | 19 |  |  |  | 740,219 |
Identifiable assets at period end |  | $ | 2,611,417 |  |  | 192,370 |  |  |  | 108,985 |  |  |  | 727,724 |  |  |  | 376,283 |  |  |  | 863,840 |  |  |  | 319,627 |  |  |  | (29,329 | ) |  |  | 5,170,917 |
Capital expenditures |  | $ | 17,775 |  |  | 2,172 |  |  |  | 383 |  |  |  | 933 |  |  |  | 2,938 |  |  |  | 4,860 |  |  |  | 1,354 |  |  |  | — |  |  |  | 30,415 |
Equity |  | $ | 1,628,893 |  |  | 35,825 |  |  |  | 42,670 |  |  |  | 221,519 |  |  |  | 124,387 |  |  |  | 182,515 |  |  |  | 164,665 |  |  |  | (41,304 | ) |  |  | 2,359,170 |
For the nine months ended September 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,535,945 |  |  | 326,398 |  |  |  | 151,994 |  |  |  | 1,607,788 |  |  |  | 631,001 |  |  |  | 1,386,284 |  |  |  | 386,524 |  |  |  | (3,592 | ) |  |  | 7,022,342 |
Directly related cost of transportation and other expenses 1 |  | $ | 1,387,511 |  |  | 201,984 |  |  |  | 90,139 |  |  |  | 1,238,996 |  |  |  | 437,392 |  |  |  | 924,592 |  |  |  | 261,482 |  |  |  | (1,700 | ) |  |  | 4,540,396 |
Salaries and other operating expenses 2 |  | $ | 785,282 |  |  | 108,892 |  |  |  | 52,172 |  |  |  | 205,976 |  |  |  | 132,984 |  |  |  | 373,004 |  |  |  | 85,003 |  |  |  | (1,902 | ) |  |  | 1,741,411 |
Operating income |  | $ | 363,152 |  |  | 15,522 |  |  |  | 9,683 |  |  |  | 162,816 |  |  |  | 60,625 |  |  |  | 88,688 |  |  |  | 40,039 |  |  |  | 10 |  |  |  | 740,535 |
Identifiable assets at period end |  | $ | 2,572,404 |  |  | 200,711 |  |  |  | 110,708 |  |  |  | 512,746 |  |  |  | 217,018 |  |  |  | 726,729 |  |  |  | 260,619 |  |  |  | (22,814 | ) |  |  | 4,578,121 |
Capital expenditures |  | $ | 15,829 |  |  | 932 |  |  |  | 360 |  |  |  | 1,110 |  |  |  | 744 |  |  |  | 6,688 |  |  |  | 2,937 |  |  |  | — |  |  |  | 28,600 |
Equity |  | $ | 1,797,123 |  |  | 46,264 |  |  |  | 54,096 |  |  |  | 225,229 |  |  |  | 91,712 |  |  |  | 154,617 |  |  |  | 161,882 |  |  |  | (39,449 | ) |  |  | 2,491,474 |
1Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings. 2Salaries and other operating expenses totals salaries and related, rent and occupancy, depreciation and amortization, selling and promotion and other as shown in the condensed consolidated statements of earnings.

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