Expeditors International Files 10-Q for Q2 2024

TL;DR

EXPD Q2 10-Q filed. Financials and ops details out.

AI Summary

Expeditors International of Washington, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational segments, including Airfreight Services and North America operations. Key financial data points such as retained earnings and noncontrolling interest as of June 30, 2024, are presented.

Why It Matters

This filing provides investors and analysts with the latest financial and operational details for Expeditors International, crucial for understanding the company's performance in the freight and cargo sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Financial data pertains to this date.)
• 2024-08-08 — Filing Date (Date the report was submitted to the SEC.)

Key Players & Entities

• EXPEDITORS INTERNATIONAL OF WASHINGTON INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• Bellevue, WA (location) — Business Address City, State
• Seattle, WA (location) — Mail Address City, State

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share EXPD New York Stock Excha

Filing Documents

• expd-20240630.htm (10-Q) — 1657KB
• expd-ex31_1.htm (EX-31.1) — 13KB
• expd-ex31_2.htm (EX-31.2) — 13KB
• expd-ex32.htm (EX-32) — 8KB
• 0000950170-24-093558.txt ( ) — 6249KB
• expd-20240630.xsd (EX-101.SCH) — 564KB
• expd-20240630_htm.xml (XML) — 1355KB

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES Condensed Consolida ted Balance Sheets (In thousands, except per share data) (Unaudited) June 30, 2024 December 31, 2023 Assets: Current Assets: Cash and cash equivalents $ 1,271,853 $ 1,512,883 Accounts receivable, less allowance for credit loss of $ 6,966 at June 30, 2024 and $ 6,550 at December 31, 2023 1,843,894 1,532,599 Deferred contract costs 395,241 218,807 Other 185,766 170,907 Total current assets 3,696,754 3,435,196 Property and equipment, less accumulated depreciation and amortization of $ 608,860 at June 30, 2024 and $ 597,473 at December 31, 2023 461,494 479,225 Operating lease right-of-use assets 537,114 516,280 Goodwill 7,927 7,927 Deferred federal and state income taxes, net 69,646 63,690 Other assets, net 15,406 21,491 Total assets $ 4,788,341 $ 4,523,809 Liabilities: Current Liabilities: Accounts payable 1,073,476 860,856 Accrued liabilities, primarily salaries and related costs 486,989 447,336 Contract liabilities 474,507 280,909 Current portion of operating lease liabilities 104,042 99,749 Federal, state and foreign income taxes 21,904 15,562 Total current liabilities 2,160,918 1,704,412 Noncurrent portion of operating lease liabilities 448,996 427,984 Commitments and contingencies Shareholders' Equity: Preferred stock, none issued — — Common stock, par value $ 0.01 per share. Issued and outstanding: 140,633 shares at June 30, 2024 and 143,866 shares at December 31, 2023 1,406 1,439 Additional paid-in capital 7,732 — Retained earnings 2,385,740 2,580,968 Accumulated other comprehensive loss ( 218,457 ) ( 192,057 ) Total shareholders' equity 2,176,421 2,390,350 Noncontrolling interest 2,006 1,063 Total equity 2,178,427 2,391,413 Total liabilities and equity $

View Full Filing

View this 10-Q filing on SEC EDGAR