10-Q Filing

EXPEDITORS INTERNATIONAL OF WASHINGTON INC CIK: 746515 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000746515-19-000019`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	expd-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 52 Comprehensive Income 14

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.73M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.19B	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$446.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$923.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$457.51M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12,727 at March 31, 2019 and $15,345 at December 31, 2018	`AccountsReceivableNetCurrent`	$1.35B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $12,727 at March 31, 2019 and $15,345 at December 31, 2018	`AccountsReceivableNetCurrent`	$1.58B	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
Deferred contract costs	`CapitalizedContractCostGross`	$131.53M	USD	Point-in-time
Deferred contract costs	`CapitalizedContractCostGross`	$159.51M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	171.65M	shares	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$54.30M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$70.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	171.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	171.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	171.65M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.73B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.73B	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $457,513 at March 31, 2019 and $446,977 at December 31, 2018	`PropertyPlantAndEquipmentNet`	$504.11M	USD	Point-in-time
Property and equipment, less accumulated depreciation and amortization of $457,513 at March 31, 2019 and $446,977 at December 31, 2018	`PropertyPlantAndEquipmentNet`	$500.85M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$349.14M	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`	$37.78M	USD	Point-in-time
Deferred federal and state income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$40.47M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$18.22M	USD	Point-in-time
Other assets, net	`PrepaidExpenseAndOtherAssetsNoncurrent`	$27.25M	USD	Point-in-time
Total assets	`Assets`	$3.64B	USD	Point-in-time
Total assets	`Assets`	$3.21B	USD	Point-in-time
Total assets	`Assets`	$3.31B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$902.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$768.66M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$220.09M	USD	Point-in-time
Accrued expenses, primarily salaries and related costs	`AccruedLiabilitiesCurrent`	$215.81M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$157.04M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$190.34M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$58.63M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$18.42M	USD	Point-in-time
Federal, state and foreign income taxes	`AccruedIncomeTaxesCurrent`	$23.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.33B	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$289.55M	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 171,648 shares at March 31, 2019 and 171,582 shares at December 31, 2018	`CommonStockValue`	$1.72M	USD	Point-in-time
Common stock, par value $0.01 per share. Issued and outstanding 171,648 shares at March 31, 2019 and 171,582 shares at December 31, 2018	`CommonStockValue`	$1.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.09B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.22B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-105.48M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-103.99M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.99B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.12B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$1.16M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$882.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.99B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.99B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.13B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.64B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.31B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue from Contract with Customer, Excluding Assessed Tax	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.85B	USD	1 Quarter
Revenue from Contract with Customer, Excluding Assessed Tax	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.02B	USD	1 Quarter
Salaries and related	`LaborAndRelatedExpense`	$356.91M	USD	1 Quarter
Salaries and related	`LaborAndRelatedExpense`	$339.89M	USD	1 Quarter
Rent and occupancy	`OccupancyNet`	$36.91M	USD	1 Quarter
Rent and occupancy	`OccupancyNet`	$41.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.39M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$11.08M	USD	1 Quarter
Selling and promotion	`SellingAndMarketingExpense`	$10.96M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$43.61M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$41.33M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.83B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.66B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$192.82M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$187.60M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.11M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.31M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.67M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$624.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$7.77M	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`	$195.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$55.26M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$61.56M	USD	1 Quarter
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
Net earnings	`ProfitLoss`	$140.11M	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`	$412.00K	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$139.70M	USD	1 Quarter
Net earnings attributable to shareholders	`NetIncomeLoss`	$135.69M	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Diluted earnings attributable to shareholders per share	`EarningsPerShareDiluted`	$0.76	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.81	USD	1 Quarter
Basic earnings attributable to shareholders per share	`EarningsPerShareBasic`	$0.77	USD	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	175.39M	shares	1 Quarter
Weighted average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	179.42M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	171.82M	shares	1 Quarter
Weighted average basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	175.90M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
Net earnings	`ProfitLoss`	$140.11M	USD	1 Quarter
Recoveries on accounts receivable	`ProvisionForDoubtfulAccounts`	$-1.89M	USD	1 Quarter
Recoveries on accounts receivable	`ProvisionForDoubtfulAccounts`	$-265.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.85M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.11M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$13.38M	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`	$13.39M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-48.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-189.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-100.65M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-230.48M	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-45.84M	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-122.28M	USD	1 Quarter
Decrease in deferred contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$-31.26M	USD	1 Quarter
Decrease in deferred contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$-3.41M	USD	1 Quarter
Decrease in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-7.40M	USD	1 Quarter
Decrease in contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-36.73M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$19.51M	USD	1 Quarter
Increase in income taxes payable, net	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$16.99M	USD	1 Quarter
Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-1.13M	USD	1 Quarter
Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-2.47M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$289.48M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$235.48M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$9.44M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$13.80M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-255.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$431.00K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.23M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.18M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$26.40M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockPlans`	$27.19M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$172.36M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$44.33M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.14M	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`	$2.54M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.51M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$265.69M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$81.80M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.19B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$923.74M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$1.19B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$923.74M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Income taxes	`IncomeTaxesPaidNet`	$37.25M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$38.52M	USD	1 Quarter

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$521.00K	USD	1 Quarter
Net earnings	`ProfitLoss`	$136.20M	USD	1 Quarter
Net earnings	`ProfitLoss`	$140.11M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$5.51M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $521 and $5,512 for the three months ended March 31, 2019 and 2018	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.36M	USD	1 Quarter
Foreign currency translation adjustments, net of tax of $521 and $5,512 for the three months ended March 31, 2019 and 2018	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$8.85M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$8.85M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.36M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$141.48M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$145.05M	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$282.00K	USD	1 Quarter
Less comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$387.00K	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$144.66M	USD	1 Quarter
Comprehensive income attributable to shareholders	`ComprehensiveIncomeNetOfTax`	$141.19M	USD	1 Quarter

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