29526ba3fddfc7dffc1e704db0bac787e28c80581ff3925a5b3e3ab7da33af97

United States

Other North America

Latin America

North Asia

South Asia

Europe

Middle East, Africa, and India

Eliminations

Total Revenue

1195c45783cdfb9fd686c20ef52dac3e86e267691ef53965e4540e2c61035ce8

Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (CapEx) (USD, thousands)

Proceeds from / Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

Dividend Payments (USD, thousands)

Net Change in Cash (USD, thousands)

78cd739d894870e34b7fd07db90f3e6008d755df3c8535260ede963130cd2d29

8936f726379b4210a86247118a99b61c13a538dcebb838acb181021159e4f480

Expeditors International of Washington, Inc. is a non-asset-based provider of global logistics services, offering a comprehensive range of services including air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, and specialized cargo monitoring and tracking **[0000950170-24-056466_expd-20240331.htm:14]** **[0000950170-24-019394_expd-20231231.htm:3]** **[0000950170-24-019394_expd-20231231.htm:44]**. The company operates primarily through three principal service categories: airfreight services, ocean freight and ocean services, and customs brokerage and other services **[0000950170-24-056466_expd-20240331.htm:14]** **[0000950170-24-019394_expd-20231231.htm:90]**. Revenue is generated by purchasing transportation services on a volume basis from direct carriers and reselling that space to customers, with the sell rate recognized as revenue and the buy rate as operating expenses **[0000950170-24-056466_expd-20240331.htm:14]** **[0000950170-24-019394_expd-20231231.htm:90]**.

1. **Airfreight Services** - Provides air freight consolidation and forwarding services, ensuring timely and efficient transportation of goods by air.
2. **Ocean Freight and Ocean Services** - Offers ocean freight consolidation and forwarding, facilitating the movement of goods across international waters.
3. **Customs Brokerage and Other Services** - Includes customs brokerage, warehousing and distribution, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, and specialized cargo monitoring and tracking.

0a502f50ca4be6193964d2205337f0134c3ee703ceabf40d5c9437ab6ab17c21

| Geographical Segment | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
|----------------------|---------|---------|---------|---------|---------|---------|---------|
| United States ($000) | **945,494**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **805,948**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **784,503**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **775,382**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **751,543**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **779,170**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **854,679**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| Other North America ($000) | **109,850**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **110,255**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **106,293**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **109,933**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **106,850**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **110,723**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **114,264**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| Latin America ($000) | **54,695**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **49,972**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **47,327**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **45,350**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **44,492**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **45,314**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **61,981**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| North Asia ($000) | **582,421**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **510,027**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **515,340**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **573,020**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **544,941**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **637,351**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **914,417**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| South Asia ($000) | **224,127**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **199,868**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **207,006**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **234,260**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **227,719**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **287,943**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **445,308**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| Europe ($000) | **534,464**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **440,916**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **410,904**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **422,340**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **398,317**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **409,455**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **433,660**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| Middle East, Africa, and India ($000) | **142,703**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **123,972**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **119,849**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **118,670**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **134,106**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **170,349**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **177,145**  **[0000950170-24-121496_expd-20240930.htm:13]**  |
| Eliminations ($000) | **(1,165)**  **[0000950170-23-017600_expd-20230331.htm:12]**  | **(1,206)**  **[0000950170-23-039847_expd-20230630.htm:13]**  | **(1,221)**  **[0000950170-23-061159_expd-20230930.htm:14]**  | **(1,187)**  **[0000950170-24-017029_expd-ex99_1.htm:7]**  | **(1,290)**  **[0000950170-24-056466_expd-20240331.htm:12]**  | **(1,304)**  **[0000950170-24-091438_expd-ex99_1.htm:6]**  | **(1,323)**  **[0000950170-24-121496_expd-20240930.htm:13]**  |

457bd60581f30c599fbd61b0907be552afb85f634359b1b301d2b365cfbc4b0a

| Business Segment | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
|------------------|---------|---------|---------|---------|---------|---------|---------|
| Airfreight Services (USD millions) | **904.9**  **[0000950170-23-017600_expd-20230331.htm:2]**  | **751.2**  **[0000950170-23-039847_expd-20230630.htm:23]**  | **724.3**  **[0000950170-23-059900_expd-ex99_1.htm:6]**  | **866.1**  **[0000950170-24-017029_expd-ex99_1.htm:4]**  | **759.4**  **[0000950170-24-056466_expd-20240331.htm:2]**  | **860.3**  **[0000950170-24-093558_expd-20240630.htm:2]**  | **986.95**  **[0000950170-24-121496_expd-20240930.htm:2]**  |
| Ocean Freight and Ocean Services (USD millions) | **697.3**  **[0000950170-23-017600_expd-20230331.htm:2]**  | **593.8**  **[0000950170-23-039847_expd-20230630.htm:23]**  | **560.3**  **[0000950170-23-059900_expd-ex99_1.htm:6]**  | **511.9**  **[0000950170-24-017029_expd-ex99_1.htm:4]**  | **570.8**  **[0000950170-24-056466_expd-20240331.htm:2]**  | **651.7**  **[0000950170-24-093558_expd-20240630.htm:2]**  | **1,017.62**  **[0000950170-24-121496_expd-20240930.htm:2]**  |
| Customs Brokerage and Other Services (USD millions) | **990.4**  **[0000950170-23-017600_expd-20230331.htm:2]**  | **894.8**  **[0000950170-23-039847_expd-20230630.htm:23]**  | **905.4**  **[0000950170-23-059900_expd-ex99_1.htm:6]**  | **899.8**  **[0000950170-24-017029_expd-ex99_1.htm:4]**  | **876.5**  **[0000950170-24-056466_expd-20240331.htm:2]**  | **927.0**  **[0000950170-24-093558_expd-20240630.htm:2]**  | **995.56**  **[0000950170-24-121496_expd-20240930.htm:2]**  |

8f8053b0a3453347041e3e0d0f8dd6d92c203cde073672fb18f8993fce0a92af

Airfreight Services

Ocean Freight

Customs Brokerage

Ocean Freight and Ocean Services

Customs Brokerage and Other Services

3f8e28337c7e323951a0511a8833e6f0f21bdab8bd15cfe1a0fa4d57f0bd1ae5

| Name                  | Position                                           | Start Date          | Short Bio                                                                                                                                                                                                 |
|-----------------------|----------------------------------------------------|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Jeffrey S. Musser     | President, Chief Executive Officer and Director    | March 1, 2014       | Jeffrey S. Musser joined Expeditors in **February 1983**. He held various positions, including District Manager and Regional Vice President, before becoming President and CEO on **March 1, 2014**  **[0000950170-24-019394_expd-20231231.htm:22]** **[0000950170-23-005412_expd-20221231.htm:22]** .                                    |
| Daniel R. Wall        | President, Global Geographies and Operations       | January 1, 2024     | Daniel R. Wall joined Expeditors in **March 1987**. He has served in roles such as District Manager and Senior Vice President - Ocean Services. He will become President, Global Geographies and Operations on **January 1, 2024**  **[0000950170-24-019394_expd-20231231.htm:22]** .        |
| Blake R. Bell         | President, Global Services                         | January 1, 2024     | Blake R. Bell joined Expeditors in **September 1995**. He has been promoted through various roles, including Senior Vice President of Global Transcon, and will become President, Global Services on **January 1, 2024**  **[0000950170-24-019394_expd-20231231.htm:22]** **[0000950170-23-005412_expd-20221231.htm:22]** .               |
| Kelly K. Blacker      | President, Global Products                         | January 1, 2024     | Kelly K. Blacker joined Expeditors in **1994**. She has held positions such as Regional Vice President of the U.S. Mid-Atlantic region and will become President, Global Products on **January 1, 2024**  **[0000950170-24-019394_expd-20231231.htm:22]** .                                   |
| Bradley S. Powell     | Senior Vice President and Chief Financial Officer  | February 2012       | Bradley S. Powell joined Expeditors as CFO in **October 2008** and was elected Senior Vice President and CFO in **February 2012**. He previously served as President and CFO of Eden Bioscience Corporation  **[0000950170-24-019394_expd-20231231.htm:23]** **[0000950170-23-005412_expd-20221231.htm:22]** .                             |
| Christopher J. McClincy| Senior Vice President and Chief Information Officer| February 2014       | Christopher J. McClincy joined Expeditors in **July 1998**. He was promoted to Vice President - Information Services in **April 2009** and later to Senior Vice President and CIO in **February 2014**  **[0000950170-24-019394_expd-20231231.htm:23]** **[0000950170-23-005412_expd-20221231.htm:22]** .                                   |
| Benjamin G. Clark     | Senior Vice President, Chief Strategy Officer      | January 2020        | Benjamin G. Clark joined Expeditors in **February 2015** as Senior Vice President and General Counsel. He became Chief Strategy Officer in **January 2020**  **[0000950170-24-019394_expd-20231231.htm:23]** **[0000950170-23-005412_expd-20221231.htm:23]** .                                                                              |
| Jeffrey F. Dickerman  | Senior Vice President, General Counsel and Corporate Secretary | January 2020        | Jeffrey F. Dickerman joined Expeditors in **October 2004**. He has held various legal positions and was appointed Senior Vice President, General Counsel in **January 2020** and Corporate Secretary in **May 2020**  **[0000950170-24-019394_expd-20231231.htm:23]** **[0000950170-23-005412_expd-20221231.htm:23]** .                     |

3302bba6c5d85fbfc4b887f4b2b6d57503444c46bc59e8cef047cae29f8f28c0

| Program Details           | Program 1          |
|---------------------------|--------------------|
| Approval Date             | November 2001  **[0000950170-24-121496_expd-20240930.htm:38]** **[0000950170-24-121496_expd-20240930.htm:11]**  |
| End Date/Duration         | No expiration date  **[0000950170-24-121496_expd-20240930.htm:38]** **[0000950170-24-121496_expd-20240930.htm:11]**  |
| Total additional amount   | N/A                |
| Remaining authorization amount | 9,971 shares as of September 2024  **[0000950170-24-121496_expd-20240930.htm:38]**  |
| Details                   | Reduce outstanding shares from 140 million to 130 million  **[0000950170-24-093558_expd-20240630.htm:37]** **[0000950170-24-121496_expd-20240930.htm:38]** **[0000950170-24-019394_expd-20231231.htm:96]**  |

6b4b745de2684bb9fde9dfc787cc1a9a68db0c45b4a92aa72d10c188372ea5fa

| Name     | Start Date | End Date | Reason for Change |
|----------|------------|----------|-------------------|
| KPMG LLP | 1982  **[0000950170-24-019394_expd-20231231.htm:81]**    | Present  | Current auditor   |

62ab1b66c84da2fe11960a7e82ee7d89b7f5b4eaa23e72c52a7023835e116240

23794d91c53ae875c8e247d72561e35d9d06ee07c70c9e0dbcc977a6d161504a

- Total Revenue: $3,000.13 million (+37% YoY)  **[0000950170-23-061159_expd-20230930.htm:2]** **[0000950170-24-121496_expd-20240930.htm:2]**   
- Airfreight Services: $986.95 million (+36% YoY)  **[0000950170-23-061159_expd-20230930.htm:2]** **[0000950170-24-121496_expd-20240930.htm:2]**   
- Ocean Freight: $1,017.62 million (**+82% YoY**)  **[0000950170-23-061159_expd-20230930.htm:2]** **[0000950170-24-121496_expd-20240930.htm:2]**   
- Customs Brokerage: $995.56 million (+10% YoY)  **[0000950170-23-061159_expd-20230930.htm:2]** **[0000950170-24-121496_expd-20240930.htm:2]**   
- United States: $854.68 million (+9% YoY)  **[0000950170-23-061159_expd-20230930.htm:14]** **[0000950170-24-121496_expd-20240930.htm:13]**   
- North Asia: $914.42 million (+77% YoY)  **[0000950170-23-061159_expd-20230930.htm:14]** **[0000950170-24-121496_expd-20240930.htm:13]**   
- South Asia: $445.31 million (**+115% YoY**)  **[0000950170-23-061159_expd-20230930.htm:14]** **[0000950170-24-121496_expd-20240930.htm:13]**   
- Middle East & Africa: $177.15 million (+48% YoY)  **[0000950170-23-061159_expd-20230930.htm:14]** **[0000950170-24-121496_expd-20240930.htm:13]**   
- Net Income: $229.57 million (**-45% YoY**)  **[0000950170-23-061159_expd-20230930.htm:2]** **[0000950170-23-061159_expd-20230930.htm:14]** **[0000950170-24-121496_expd-20240930.htm:2]** **[0000950170-24-121496_expd-20240930.htm:13]** **[0000950170-24-121496_expd-20240930.htm:11]**   

cb3882137639c77c48c8fe3583094b046ccf2f30c873694e57ba0d6fd426b6ff

60331bcf00da1da215120d6e747ee6d02957c0572ebbf032b91dac8119caa0ec

| Year       | Amount Due (Millions) | Debt Type                          | Interest Rate (%) | % of Total Debt                     |
|------------|------------------------|------------------------------------|-------------------|--------------------------------------|
| 2024-2025  | 48                    | Unsecured bank lines of credit     | N/A               | 25.4% = (48 / 189) * 100 **[0000950170-24-121496_expd-20240930.htm:31]**    |
| 2024-2025  | 141                   | Fixed lease payment obligations    | N/A               | 74.6% = (141 / 189) * 100 **[0000950170-24-121496_expd-20240930.htm:31]**   |

Expeditors International of Washington Inc (EXPD)

Financials