10-Q Filing

EXPEDITORS INTERNATIONAL OF WASHINGTON INC CIK: 746515 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000746515-18-000017`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	expd-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 46 Cash Flow Statement 52 Comprehensive Income 14

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.86M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$974.43M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$420.28M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$433.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.16B	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12,688 at March 31, 2018 and $12,858 at December 31, 2017	`AccountsReceivableNetCurrent`	$1.41B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12,688 at March 31, 2018 and $12,858 at December 31, 2017	`AccountsReceivableNetCurrent`	$1.33B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred contract costs	`CapitalizedContractCostGross`	$120.86M	USD	Point-in-time
Deferred contract costs	`CapitalizedContractCostGross`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	176.37M	shares	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$58.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	174.31M	shares	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$75.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.64B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	176.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	174.31M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.54B	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $433,280 at March 31, 2018 and $420,282 at December 31, 2017	`PropertyPlantAndEquipmentNet`	$531.07M	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $433,280 at March 31, 2018 and $420,282 at December 31, 2017	`PropertyPlantAndEquipmentNet`	$525.20M	USD	Point-in-time
Goodwill	`Goodwill`	$7.93M	USD	Point-in-time
Goodwill	`Goodwill`	$7.93M	USD	Point-in-time
Deferred Federal and state income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$13.21M	USD	Point-in-time
Deferred Federal and state income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$7.40M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$29.22M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$27.99M	USD	Point-in-time
Total assets	`Assets`	$2.90B	USD	Point-in-time
Total assets	`Assets`	$3.12B	USD	Point-in-time
Total assets	`Assets`	$3.21B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$866.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$812.20M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$206.32M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$222.21M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$147.24M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$17.23M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$20.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.20B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.09B	USD	Point-in-time
Noncurrent Federal income taxes payable	`AccruedIncomeTaxesNoncurrent`	$29.52M	USD	Point-in-time
Noncurrent Federal income taxes payable	`AccruedIncomeTaxesNoncurrent`	$31.33M	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 174,308 shares at March 31, 2018 and 176,374 shares at December 31, 2017	`CommonStockValue`	$1.76M	USD	Point-in-time
Common stock, par value $0.01 per share. Issued and outstanding 174,308 shares at March 31, 2018 and 176,374 shares at December 31, 2017	`CommonStockValue`	$1.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$546.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.04B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.06B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-64.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-73.96M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.98B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.99B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.52M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.80M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.85B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.99B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.21B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.12B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue from Contract with Customer, Excluding Assessed Tax	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.55B	USD	1 Quarter
Revenue from Contract with Customer, Excluding Assessed Tax	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.85B	USD	1 Quarter
Airfreight services	`CostOfAirfreightConsolidation`	$443.40M	USD	1 Quarter
Airfreight services	`CostOfAirfreightConsolidation`	$513.50M	USD	1 Quarter
Ocean freight and ocean services	`CostOfOceanFreightConsolidation`	$366.06M	USD	1 Quarter
Ocean freight and ocean services	`CostOfOceanFreightConsolidation`	$379.42M	USD	1 Quarter
Customs brokerage and other services	`CostOfCustomsBrokerageAndOtherServices`	$208.06M	USD	1 Quarter
Customs brokerage and other services	`CostOfCustomsBrokerageAndOtherServices`	$325.50M	USD	1 Quarter
Salaries and related costs	`LaborAndRelatedExpense`	$339.89M	USD	1 Quarter
Salaries and related costs	`LaborAndRelatedExpense`	$292.58M	USD	1 Quarter
Rent and occupancy costs	`OccupancyNet`	$28.13M	USD	1 Quarter
Rent and occupancy costs	`OccupancyNet`	$36.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.93M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$10.96M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$10.91M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$37.94M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$41.33M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.66B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.40B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$146.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$192.82M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.31M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.74M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$298.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$624.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$3.04M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$4.94M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$197.76M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$149.15M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$55.59M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$61.56M	USD	1 Quarter
Net earnings	`ProfitLoss`	$93.57M	USD	1 Quarter
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
Less net earnings attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$508.00K	USD	1 Quarter
Less net earnings attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$303.00K	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$93.26M	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$135.69M	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.76	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.77	USD	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	182.09M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	179.42M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	175.90M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	180.06M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$93.57M	USD	1 Quarter
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
(Recoveries) provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$931.00K	USD	1 Quarter
(Recoveries) provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-265.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$5.59M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.85M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$10.62M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$11.27M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.93M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$351.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-48.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-100.65M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-75.45M	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.32M	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-45.84M	USD	1 Quarter
Decrease in deferred contract costs	`IncreaseDecreaseinContractwithCustomerAsset`	-	USD	1 Quarter
Decrease in deferred contract costs	`IncreaseDecreaseinContractwithCustomerAsset`	$-3.41M	USD	1 Quarter
Decrease in contract liabilities	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Decrease in contract liabilities	`IncreaseDecreaseInDeferredRevenue`	$-7.40M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$19.51M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$19.82M	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.13M	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.56M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$235.48M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$195.68M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$12.76M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$13.80M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$671.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$431.00K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.43M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.23M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$45.37M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$26.40M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$172.36M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$53.91M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.54M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-145.96M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.51M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.90M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$81.80M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$181.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$974.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$974.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16B	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	$38.52M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$29.15M	USD	1 Quarter

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$5.51M	USD	1 Quarter
Net earnings	`ProfitLoss`	$93.57M	USD	1 Quarter
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$4.88M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $5,512 and $4,876 for the three months ended March 31, 2018 and 2017	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$8.85M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $5,512 and $4,876 for the three months ended March 31, 2018 and 2017	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$8.86M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$8.85M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$8.86M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$145.05M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$102.43M	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$387.00K	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$249.00K	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$144.66M	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$102.18M	USD	1 Quarter

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