10-Q Filing

EXPEDITORS INTERNATIONAL OF WASHINGTON INC CIK: 746515 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0000746515-15-000016`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	expd-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 52 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.93M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.12M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$371.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.25B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$927.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$373.01M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$61.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$40.34M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $6,932 at March 31, 2015 and $7,119 at December 31, 2014	`AccountsReceivableNetCurrent`	$1.25B	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $6,932 at March 31, 2015 and $7,119 at December 31, 2014	`AccountsReceivableNetCurrent`	$1.24B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	191.12M	shares	Point-in-time
Deferred Federal and state income taxes	`DeferredTaxAssetsNetCurrent`	$20.40M	USD	Point-in-time
Deferred Federal and state income taxes	`DeferredTaxAssetsNetCurrent`	$20.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	191.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	191.12M	shares	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$44.91M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$65.49M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	191.66M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.29B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.35B	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $373,011 at March 31, 2015 and $371,756 at December 31, 2014	`PropertyPlantAndEquipmentNet`	$528.99M	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $373,011 at March 31, 2015 and $371,756 at December 31, 2014	`PropertyPlantAndEquipmentNet`	$538.41M	USD	Point-in-time
Goodwill	`Goodwill`	$7.93M	USD	Point-in-time
Goodwill	`Goodwill`	$7.93M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$55.31M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$54.70M	USD	Point-in-time
Total assets	`Assets`	$2.89B	USD	Point-in-time
Total assets	`Assets`	$2.93B	USD	Point-in-time
Total assets	`Assets`	$2.94B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$749.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$770.24M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$203.81M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$192.47M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$26.16M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$21.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$979.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$983.78M	USD	Point-in-time
Deferred Federal and state income taxes	`DeferredTaxLiabilitiesNoncurrent`	$37.03M	USD	Point-in-time
Deferred Federal and state income taxes	`DeferredTaxLiabilitiesNoncurrent`	$35.51M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.01 per share. Issued and outstanding 191,120,214 shares at March 31, 2015 and 191,655,690 shares at December 31, 2014	`CommonStockValue`	$1.91M	USD	Point-in-time
Common stock, par value $0.01 per share. Issued and outstanding 191,120,214 shares at March 31, 2015 and 191,655,690 shares at December 31, 2014	`CommonStockValue`	$1.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.90B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.97B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-57.09M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-37.82M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.92B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.87B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$3.20M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.64M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.96B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.93B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.87B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.09B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.89B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.94B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Airfreight services	`AirfreightRevenue`	$647.14M	USD	1 Quarter
Airfreight services	`AirfreightRevenue`	$707.44M	USD	1 Quarter
Ocean freight and ocean services	`OceanFreightAndOceanServicesRevenue`	$469.22M	USD	1 Quarter
Ocean freight and ocean services	`OceanFreightAndOceanServicesRevenue`	$565.72M	USD	1 Quarter
Customs brokerage and other services	`CustomsBrokerageAndOtherServicesRevenue`	$404.37M	USD	1 Quarter
Customs brokerage and other services	`CustomsBrokerageAndOtherServicesRevenue`	$375.28M	USD	1 Quarter
Total revenues	`Revenues`	$1.68B	USD	1 Quarter
Total revenues	`Revenues`	$1.49B	USD	1 Quarter
Airfreight services	`CostOfAirfreightConsolidation`	$513.00M	USD	1 Quarter
Airfreight services	`CostOfAirfreightConsolidation`	$482.88M	USD	1 Quarter
Ocean freight and ocean services	`CostOfOceanFreightConsolidation`	$445.46M	USD	1 Quarter
Ocean freight and ocean services	`CostOfOceanFreightConsolidation`	$367.38M	USD	1 Quarter
Customs brokerage and other services	`CostOfCustomsBrokerageAndOtherServices`	$176.80M	USD	1 Quarter
Customs brokerage and other services	`CostOfCustomsBrokerageAndOtherServices`	$189.58M	USD	1 Quarter
Salaries and related costs	`LaborAndRelatedExpense`	$278.88M	USD	1 Quarter
Salaries and related costs	`LaborAndRelatedExpense`	$255.94M	USD	1 Quarter
Rent and occupancy costs	`OccupancyNet`	$25.39M	USD	1 Quarter
Rent and occupancy costs	`OccupancyNet`	$25.16M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.53M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$8.17M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$9.25M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$27.72M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$35.56M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.36B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.51B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$135.20M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$168.88M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.73M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.70M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-281.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$34.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$2.77M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$2.42M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$137.62M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$171.65M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$53.42M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$64.32M	USD	1 Quarter
Net earnings	`ProfitLoss`	$107.33M	USD	1 Quarter
Net earnings	`ProfitLoss`	$84.19M	USD	1 Quarter
Less net earnings attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$371.00K	USD	1 Quarter
Less net earnings attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$628.00K	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$83.82M	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$106.70M	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.55	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	201.84M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	192.71M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	201.12M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	191.63M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$107.33M	USD	1 Quarter
Net earnings	`ProfitLoss`	$84.19M	USD	1 Quarter
Provision for losses (recoveries) on accounts receivable	`ProvisionForDoubtfulAccounts`	$277.00K	USD	1 Quarter
Provision for losses (recoveries) on accounts receivable	`ProvisionForDoubtfulAccounts`	$-1.11M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$11.94M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$7.19M	USD	1 Quarter
Excess tax benefits from stock plans	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$489.00K	USD	1 Quarter
Excess tax benefits from stock plans	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.48M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$9.91M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$10.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.53M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-138.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-86.00K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$46.79M	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-12.23M	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$29.55M	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.89M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$18.20M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$23.13M	USD	1 Quarter
Decrease in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.57M	USD	1 Quarter
Decrease in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.28M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$173.86M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$134.39M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$22.00K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$81.13M	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$20.98M	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$40.30M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$8.76M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$9.45M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.67M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-198.00K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$31.03M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.24M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$7.89M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$35.05M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$226.72M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$77.37M	USD	1 Quarter
Excess tax benefits from stock plans	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$489.00K	USD	1 Quarter
Excess tax benefits from stock plans	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.48M	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$857.00K	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$85.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-218.43M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.70M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-17.69M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.79M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$106.04M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-116.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$927.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$927.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	$28.26M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$27.50M	USD	1 Quarter

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-10.56M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-1.33M	USD	1 Quarter
Net earnings	`ProfitLoss`	$107.33M	USD	1 Quarter
Net earnings	`ProfitLoss`	$84.19M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $10,560 and $1,329 for the three months ended March 31, 2015 and 2014	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.38M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $10,560 and $1,329 for the three months ended March 31, 2015 and 2014	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-19.61M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.38M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-19.61M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$81.82M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$87.73M	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$420.00K	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$297.00K	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$81.40M	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$87.43M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.