C. H. Robinson Worldwide, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>C. H. Robinson Worldwide, Inc. has submitted its 2023 annual report on Form 10-K detailing its financial performance and operations.</b>

AI Summary

C. H. ROBINSON WORLDWIDE, INC. (CHRW) filed a Annual Report (10-K) with the SEC on February 16, 2024. C. H. Robinson Worldwide, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the company's operations and financial performance for the period. The company is engaged in the arrangement of transportation of freight and cargo. The fiscal year end for the company is December 31. The company's principal business address is 14701 Charlson Road, Eden Prairie, MN 55347.

Why It Matters

For investors and stakeholders tracking C. H. ROBINSON WORLDWIDE, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of C. H. Robinson's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's performance and future outlook. As a major player in freight and cargo transportation, the details within this report are vital for understanding market dynamics, competitive positioning, and potential impacts of economic conditions on the logistics sector.

Risk Assessment

Risk Level: medium — C. H. ROBINSON WORLDWIDE, INC. shows moderate risk based on this filing. The company operates in the transportation and logistics industry, which is subject to economic fluctuations, regulatory changes, and competitive pressures, as detailed in the 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand C. H. Robinson's performance drivers and potential challenges in the current economic environment.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-16 — Filing Date (FILED AS OF DATE)
• 4731 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• DE — State of Incorporation (STATE OF INCORPORATION)

Key Players & Entities

• C. H. ROBINSON WORLDWIDE, INC. (company) — FILER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240216 (date) — FILED AS OF DATE
• 4731 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (state) — STATE OF INCORPORATION
• 14701 CHARLSON ROAD (address) — BUSINESS ADDRESS
• EDEN PRAIRIE (city) — BUSINESS ADDRESS
• 9529378500 (phone) — BUSINESS PHONE

FAQ

Industry Context

C. H. Robinson Worldwide, Inc. operates within the transportation and logistics industry, specifically focusing on arranging freight and cargo transportation. This sector is critical to global supply chains and is influenced by economic conditions and technological advancements.

Regulatory Implications

The company is subject to regulations governing the transportation industry in the United States and potentially other jurisdictions where it operates. Compliance with these regulations is essential for its business operations.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review the business description and risk factors to understand operational challenges and strategic priorities.
3. Assess management's discussion and analysis (MD&A) for insights into performance drivers and future outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K. Comparative data from previous filings will be available upon analysis of those specific documents.

Key Financial Figures

• $0.10 — ich registered Common Stock, par value $0.10 per share CHRW The Nasdaq Global Select
• $94.35 — 31,526 (based upon the closing price of $94.35 per common share on that date as quoted
• $17.6 billion — ld, with consolidated total revenues of $17.6 billion in 2023. We bring together customers, c
• $22 billion — roximately 19 million shipments and had $22 billion of freight under management. In 2023 ,

Filing Documents

• chrw-20231231.htm (10-K) — 1952KB
• a2024psusltceous.htm (EX-10.36) — 40KB
• a2024rsuseniorleaderus.htm (EX-10.37) — 36KB
• a2024non-employeedirectorr.htm (EX-10.38) — 21KB
• a2023exhibit21.htm (EX-21) — 50KB
• exhibit2312023.htm (EX-23.1) — 2KB
• a2023exhibit24.htm (EX-24) — 16KB
• chrw10k-ex3112023.htm (EX-31.1) — 8KB
• chrw10k-ex3122023.htm (EX-31.2) — 8KB
• chrw10k-ex3212023.htm (EX-32.1) — 6KB
• chrw10k-ex3222023.htm (EX-32.2) — 5KB
• exhibit97.htm (EX-97) — 26KB
• chrw-20231231_g1.jpg (GRAPHIC) — 282KB
• chrw-20231231_g2.jpg (GRAPHIC) — 292KB
• 0001043277-24-000011.txt (&nbsp;) — 11632KB
• chrw-20231231.xsd (EX-101.SCH) — 65KB
• chrw-20231231_cal.xml (EX-101.CAL) — 92KB
• chrw-20231231_def.xml (EX-101.DEF) — 353KB
• chrw-20231231_lab.xml (EX-101.LAB) — 881KB
• chrw-20231231_pre.xml (EX-101.PRE) — 634KB
• chrw-20231231_htm.xml (XML) — 1500KB

Page

PART I Page

Business

Item 1. Business 3

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 22

Cybersecurity

Item 1C Cybersecurity 22

Properties

Item 2. Properties 24

Legal Proceedings

Item 3. Legal Proceedings 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24 PART II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 25

Reserved

Item 6. Reserved 26

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 39

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 40

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69

Controls and Procedures

Item 9A. Controls and Procedures 69

Other Information

Item 9B. Other Information 69

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 PART III

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance 70

Executive Compensation

Item 11. Executive Compensation 70

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 70

Principal Account ant Fees and Services

Item 14. Principal Account ant Fees and Services 70 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 71

Form 10-K Summary

Item 16. Form 10-K Summary 74

Signatures

Signatures 75 2 Table of contents PART I

BUSINESS

ITEM 1. BUSINESS Overview C.H. Robinson Worldwide, Inc. ("C.H. Robinson," "the company," "we," "us," or "our") is one of the largest global logistics companies in the world, with consolidated total revenues of $17.6 billion in 2023. We bring together customers, carriers, and suppliers to connect and grow supply chains. We are grounded in our customer promise to use our technology, which is built by and for supply chain experts and powered by our information advantage, to deliver smarter solutions and help navigate increasingly complex global supply chains. These global solutions, combined with the expertise of our people, deliver value–from improved cost reductions and reliability to sustainability and visibility–that our customers and carriers can rely on. In 2023, we handled approximat ely 19 million shipments and worked wi th more than 90,000 c ustomers. Operating throughout North America, Europe, Asia, Oceania, South America, and the Middle East, we offer a global suite of multi-modal services that brings together the value of our expertise and account management services with custom technology differentiated by our unmatched data and scale. Our EDGE values are the core of our strategy and drive us to Evolve Constantly, Deliver Excellence, Grow Together, and Embrace Integrity. As one of the world's largest global logistics platforms, we solve logistics problems for companies across the globe and across industries, from simple to the most complex. We work closely with a wide variety of transportation companies and utilize those relationships to efficiently and cost-effectively arrange the transport of our customers' freight. In 2023 , we processed approximately 19 million shipments and had $22 billion of freight under management. In 2023 , we had more than 450,000 contracted transportation companies around the world on our platform, including contracted motor carriers, railroads (primarily intermodal service providers), and ocean and air carriers. Our emplo