v3.26.3
Condensed Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues:        
Total revenues $ 4,107,649 $ 2,894,751 $ 10,392,946 $ 8,213,055
Operating Expenses:        
Directly related cost of transportation and other expenses [1] 2,893,962 1,939,657 7,121,953 5,469,689
Salaries and related costs 588,267 490,437 1,661,536 1,419,710
Rent and occupancy 70,619 68,308 207,503 198,392
Depreciation and amortization 14,180 14,248 40,750 42,699
Selling and promotion 10,384 9,657 30,649 28,159
Other 84,823 84,402 240,695 252,770
Total operating expenses 3,662,235 2,606,709 9,303,086 7,411,419
Operating income 445,414 288,042 1,089,860 801,636
Other Income (Expense):        
Interest income 5,504 8,491 20,965 26,858
Other, net (2,575) 1,640 2,465 3,529
Other income, net 2,929 10,131 23,430 30,387
Earnings before income taxes 448,343 298,173 1,113,290 832,023
Income tax expense 103,771 75,095 271,416 220,927
Net earnings 344,572 223,078 841,874 611,096
Less net earnings attributable to the noncontrolling interest 60 822 1,526 1,471
Net earnings attributable to shareholders $ 344,512 $ 222,256 $ 840,348 $ 609,625
Basic earnings attributable to shareholders per share $ 2.65 $ 1.65 $ 6.39 $ 4.47
Diluted earnings attributable to shareholders per share $ 2.65 $ 1.64 $ 6.38 $ 4.46
Weighted average basic shares outstanding 129,918 134,956 131,458 136,346
Weighted average diluted shares outstanding 130,117 135,285 131,727 136,790
Airfreight services        
Revenues:        
Total revenues $ 1,544,691 $ 1,020,258 $ 4,070,396 $ 2,873,805
Operating Expenses:        
Directly related cost of transportation and other expenses 1,169,540 766,783 3,073,796 2,113,679
Ocean freight and ocean services        
Revenues:        
Total revenues 1,102,833 746,120 2,412,639 2,203,567
Operating Expenses:        
Directly related cost of transportation and other expenses 861,491 542,304 1,809,398 1,599,680
Customs brokerage and other services        
Revenues:        
Total revenues 1,460,125 1,128,373 3,909,911 3,135,683
Operating Expenses:        
Directly related cost of transportation and other expenses $ 862,931 $ 630,570 $ 2,238,759 $ 1,756,330
[1] Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the condensed consolidated statements of earnings.