Expeditors International Files Q3 2024 10-Q

TL;DR

Expeditors Intl 10-Q filed. Q3 2024 financials out. Check it.

AI Summary

Expeditors International of Washington, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational segments, including Customs Brokerage and Other Services, and highlights financial data points such as cash reserves and accumulated other comprehensive income. The company's fiscal year ends on December 31st, and its headquarters are located in Seattle, Washington.

Why It Matters

This filing provides investors with a quarterly update on Expeditors' financial health and operational performance, crucial for understanding the company's trajectory in the freight and cargo industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-09-30 — Reporting Period End (Quarterly financial data is reported as of this date.)
• 2024-07-01 — Reporting Period Start (Quarterly financial data is reported from this date.)
• 2023-09-30 — Prior Year Period End (Comparative financial data from the previous year.)

Key Players & Entities

• EXPEDITORS INTERNATIONAL OF WASHINGTON INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241105 (date) — Filing Date
• 0000746515 (company) — Central Index Key
• 4731 (industry_code) — Standard Industrial Classification
• WA (location) — State of Incorporation
• 2066743400 (phone_number) — Business Phone
• Customs Brokerage and Other Services (business_segment) — Operating Segment

FAQ

Key Financial Figures

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

Filing Documents

• expd-20240930.htm (10-Q) — 1644KB
• expd-ex31_1.htm (EX-31.1) — 13KB
• expd-ex31_2.htm (EX-31.2) — 13KB
• expd-ex32.htm (EX-32) — 8KB
• 0000950170-24-121496.txt ( ) — 6164KB
• expd-20240930.xsd (EX-101.SCH) — 573KB
• expd-20240930_htm.xml (XML) — 1300KB

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) September 30, 2024 December 31, 2023 Assets: Current Assets: Cash and cash equivalents $ 1,293,173 $ 1,512,883 Accounts receivable, less allowance for credit loss of $ 5,903 at September 30, 2024 and $ 6,550 at December 31, 2023 2,176,959 1,532,599 Deferred contract costs 431,640 218,807 Other 181,273 170,907 Total current assets 4,083,045 3,435,196 Property and equipment, less accumulated depreciation and amortization of $ 624,562 at September 30, 2024 and $ 597,473 at December 31, 2023 468,594 479,225 Operating lease right-of-use assets 525,810 516,280 Goodwill 7,927 7,927 Deferred federal and state income taxes, net 69,789 63,690 Other assets, net 15,752 21,491 Total assets $ 5,170,917 $ 4,523,809 Liabilities: Current Liabilities: Accounts payable 1,240,174 860,856 Accrued liabilities, primarily salaries and related costs 470,723 447,336 Contract liabilities 532,289 280,909 Current portion of operating lease liabilities 106,832 99,749 Federal, state and foreign income taxes 25,728 15,562 Total current liabilities 2,375,746 1,704,412 Noncurrent portion of operating lease liabilities 436,001 427,984 Commitments and contingencies Shareholders' Equity: Preferred stock, none issued — — Common stock, par value $ 0.01 per share. Issued and outstanding: 139,971 at September 30, 2024 and 143,866 at December 31, 2023 1,400 1,439 Additional paid-in capital 4,307 — Retained earnings 2,540,978 2,580,968 Accumulated other comprehensive loss ( 189,978 ) ( 192,057 ) Total shareholders' equity 2,356,707 2,390,350 Noncontrolling interest 2,463 1,063 Total equity 2,359,170 2,391,413 Total liabilities and equity

View Full Filing

View this 10-Q filing on SEC EDGAR