Expeditors International of Washington(EXPD)

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Expeditors International of Washington(EXPD) - 2023 Q2 - Quarterly Report
2023-08-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-13468 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. (Exact name of registrant as specified in its charter) | Washington | 91-1069248 | | --- | ...
Expeditors International of Washington(EXPD) - 2023 Q1 - Quarterly Report
2023-05-03 16:00
PART I. FINANCIAL INFORMATION [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) For the first quarter of 2023, Expeditors reported a significant year-over-year decline in financial performance, with total revenues dropping to **$2.59 billion** from **$4.66 billion** and net earnings attributable to shareholders decreasing to **$226 million** from **$346 million**, primarily driven by falling rates and volumes in air and ocean freight Condensed Consolidated Statements of Earnings (Q1 2023 vs Q1 2022) | Financial Metric | Q1 2023 (In thousands) | Q1 2022 (In thousands) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $2,592,589 | $4,664,298 | -44.4% | | Airfreight services revenues | $904,903 | $1,598,555 | -43.4% | | Ocean freight and ocean services revenues | $697,307 | $1,976,246 | -64.7% | | **Operating Income** | $275,969 | $461,760 | -40.2% | | **Net Earnings Attributable to Shareholders** | $226,011 | $346,109 | -34.7% | | **Diluted EPS** | $1.45 | $2.05 | -29.3% | Condensed Consolidated Balance Sheet Highlights | Balance Sheet Item | March 31, 2023 (In thousands) | December 31, 2022 (In thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $2,350,794 | $2,034,131 | | Total current assets | $4,257,011 | $4,518,017 | | Total assets | $5,332,577 | $5,590,434 | | Total current liabilities | $1,760,056 | $2,054,055 | | Total equity | $3,150,368 | $3,113,535 | Condensed Consolidated Statements of Cash Flows | Cash Flow Activity | Three months ended March 31, 2023 (In thousands) | Three months ended March 31, 2022 (In thousands) | | :--- | :--- | :--- | | Net cash from operating activities | $546,412 | $413,946 | | Net cash from investing activities | ($9,551) | ($14,333) | | Net cash from financing activities | ($226,566) | $17,759 | - In Q1 2023, the company repurchased **1,959 thousand shares** at an average price of **$108.98 per share** No shares were repurchased in the same period in 2022[39](index=39&type=chunk) - The company incurred cumulative additional expenses of **$60 million**, net of recoveries, as a result of the 2022 cyber-attack In Q1 2022, this included approximately **$42 million** in incremental demurrage charges and **$20 million** in other costs[48](index=48&type=chunk)[49](index=49&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=12&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant downturn in Q1 2023 performance to a global economic slowdown, high customer inventory levels, and the normalization of freight rates from pandemic-era highs, while maintaining a strong liquidity position and continuing its share repurchase program - Key operational highlights for Q1 2023 include lower volumes due to softening customer demand, declining average buy and sell rates as capacity exceeded demand, and a **35% decrease in net earnings to shareholders**[61](index=61&type=chunk) - The global economic environment remains uncertain due to potential impacts of pandemics, inflation, rising interest rates, and the conflict in Ukraine A slowdown in the global economy and softening customer demand began in Q2 2022 and continued through Q1 2023[63](index=63&type=chunk) [Results of Operations](index=15&type=section&id=Results%20of%20Operations) Operating income fell **40% to $276.0 million** in Q1 2023 from **$461.8 million** in Q1 2022, driven by sharp revenue declines in Airfreight (**-43%**) and Ocean freight (**-65%**) due to falling rates and volumes Comparison of Operations (Q1 2023 vs Q1 2022) | (in thousands) | Q1 2023 | Q1 2022 | Percentage change | | :--- | :--- | :--- | :--- | | **Airfreight services revenues** | $904,903 | $1,598,555 | (43)% | | **Ocean freight services revenues** | $697,307 | $1,976,246 | (65)% | | **Customs brokerage revenues** | $990,379 | $1,089,497 | (9)% | | **Operating income** | $275,969 | $461,760 | (40)% | | **Net earnings attributable to shareholders** | $226,011 | $346,109 | (35)% | - Airfreight revenues and expenses decreased by **43%** and **42%** respectively, driven by a **44%** decrease in average sell rates and a **6%** decrease in tonnage as market rates declined and demand softened[70](index=70&type=chunk) - Ocean freight revenues and expenses fell **65%** and **70%** respectively, primarily due to a **62%** drop in average sell rates and a **26%** decrease in containers shipped as demand softened and port congestion eased[72](index=72&type=chunk)[73](index=73&type=chunk) - Customs brokerage expenses decreased **26%** YoY, largely because Q1 2022 included approximately **$42 million** in incremental demurrage charges resulting from the cyber-attack[77](index=77&type=chunk)[78](index=78&type=chunk) - Salaries and related costs decreased **17%** due to lower commissions and bonuses, reflecting the decline in operating income Management bonuses decreased by **45%** compared to the same period in 2022[81](index=81&type=chunk)[83](index=83&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity remains strong, with working capital of **$2.5 billion**, including **$2.35 billion** in cash and cash equivalents as of March 31, 2023, and net cash from operations increased to **$546 million** from **$414 million** in the prior year - As of March 31, 2023, the company had working capital of **$2,497 million**, including cash and cash equivalents of **$2,351 million**, and no long-term debt[90](index=90&type=chunk) - Net cash provided by operating activities increased by **$132 million** YoY to **$546 million**, primarily due to the collection of accounts receivable[90](index=90&type=chunk) - During Q1 2023, the company used **$227 million** in financing activities, which included the repurchase of **2.0 million shares** of common stock[94](index=94&type=chunk) - Total anticipated capital expenditures for 2023 are estimated to be **$100 million**, covering routine expenditures, improvements, and technology investments[93](index=93&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=19&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are foreign exchange and interest rate fluctuations, with a hypothetical **10%** weakening of the U.S. dollar in Q1 2023 increasing operating income by approximately **$16 million**, and no derivative financial instruments used to manage this risk - A hypothetical **10%** weakening of the U.S. dollar during Q1 2023 would have increased operating income by approximately **$16 million**[100](index=100&type=chunk) - A hypothetical **10%** strengthening of the U.S. dollar during Q1 2023 would have reduced operating income by approximately **$13 million**[100](index=100&type=chunk) - The company does not currently use derivative financial instruments to manage foreign currency risk Net foreign currency losses were approximately **$3 million** in Q1 2023, compared to **$2 million** in net gains in Q1 2022[101](index=101&type=chunk)[87](index=87&type=chunk) - Interest rate risk is low, as the company had no long-term debt at March 31, 2023 A hypothetical **10 basis point** change in interest rates would not significantly impact earnings[102](index=102&type=chunk) [Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of March 31, 2023, due to a material weakness in IT program change management, with remediation expected by year-end - The Chief Executive Officer and Chief Financial Officer concluded that disclosure controls and procedures were not effective as of the end of the reporting period[103](index=103&type=chunk) - The ineffectiveness is due to a material weakness in internal control over financial reporting related to IT program change management, as disclosed in the 2022 Annual Report[103](index=103&type=chunk) - The company is implementing enhancements to strengthen IT processes and expects the remediation of this material weakness to be completed prior to the end of 2023[104](index=104&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various claims, lawsuits, and investigations in the ordinary course of business, none of which are expected to significantly affect operations, cash flows, or financial position - In management's opinion, based on advice from legal and tax advisors, none of the current legal matters are expected to have a significant effect on the Company's operations, cash flows or financial position[108](index=108&type=chunk) [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the company's risk factors from the 2022 Form 10-K, except for an update emphasizing the impact of global economic uncertainty, which could lead to lower freight volumes, reduced sell rates, and higher operating expenses - A key risk factor is that unfavorable economic conditions, rising interest rates, and high inflation could result in lower freight volumes, reduced sell rates, and higher operating expenses, which may adversely affect revenues, operating results, and cash flows[109](index=109&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=22&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the first quarter of 2023, the company repurchased **1,959 thousand shares** of its common stock at an average price of **$108.98 per share** under the Discretionary Stock Repurchase Plan, amended on February 20, 2023, to authorize repurchases down to **140 million shares** outstanding Issuer Purchases of Equity Securities (Q1 2023) | Period | Total number of shares purchased (in thousands) | Average price paid per share | | :--- | :--- | :--- | | Jan 1-31, 2023 | - | - | | Feb 1-28, 2023 | - | - | | Mar 1-31, 2023 | 1,959 | $108.98 | | **Total** | **1,959** | **$108.98** | - On February 20, 2023, the Board of Directors authorized repurchases of common stock down to **140 million shares** This authorization has no expiration date[112](index=112&type=chunk)
Expeditors International of Washington(EXPD) - 2022 Q4 - Annual Report
2023-02-28 16:00
Part I [Business](index=3&type=section&id=Item%201%20Business) The company provides global third-party logistics services, experiencing 2022 disruptions from supply chain issues and a significant cyber-attack - The company operates as a **non-asset-based third-party logistics provider**, reselling purchased cargo space without owning aircraft or ships[10](index=10&type=chunk) 2022 Revenue Breakdown by Service | Service Category | Percentage of 2022 Revenue | | :--- | :--- | | Ocean Freight and Ocean Services | ~38% | | Airfreight Services | ~35% | | Customs Brokerage and Other Services | ~27% | - In February 2022, a targeted cyber-attack led to a **three-week shutdown of most global operating systems**, significantly limiting operations[21](index=21&type=chunk) - Strategic initiatives for 2022 focused on **growing market rates**, **expanding European business**, and **increasing customs brokerage offerings in Asia**[30](index=30&type=chunk)[34](index=34&type=chunk) Employee Headcount by Geography (as of Dec 31, 2022) | Region | Employee Count | | :--- | :--- | | United States | 7,000 | | Other North America | 1,700 | | Latin America | 850 | | North Asia | 2,450 | | South Asia | 1,800 | | Europe | 4,200 | | Middle East, Africa and India | 1,900 | | **Total** | **19,900** | [Risk Factors](index=16&type=section&id=Item%201A%20Risk%20Factors) The company faces key risks including ongoing pandemic effects, intense competition, economic uncertainty, operational disruptions, and internal control weaknesses - The **COVID-19 pandemic continues to pose risks** through potential disruptions to operations and service providers[106](index=106&type=chunk) - Reliance on **third-party carriers** means their financial instability or reduced capacity could adversely impact business and operating results[107](index=107&type=chunk) - Reliance on its **technology platform** exposes the company to risks from disruptions like the February 2022 cyber-attack, causing revenue loss and remediation costs[119](index=119&type=chunk) - A **material weakness in internal control** over financial reporting was identified in Q4 2022 due to ineffective IT general control over database changes[145](index=145&type=chunk) [Unresolved Staff Comments](index=22&type=section&id=Item%201B%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - **Not applicable**[146](index=146&type=chunk) [Properties](index=22&type=section&id=Item%202%20Properties) The company operates from approximately 440 global locations, with 19 owned, strategically positioned near transport hubs - The company operates in approximately **440 global locations**, including **19 owned facilities**[147](index=147&type=chunk) [Legal Proceedings](index=22&type=section&id=Item%203%20Legal%20Proceedings) The company is involved in various legal matters, none of which are expected to significantly impact its financial position or operations - Management believes current legal matters, including those from the cyber-attack, will **not significantly affect** the company's financial position or operations[148](index=148&type=chunk) [Mine Safety Disclosures](index=22&type=section&id=Item%204%20Mine%20Safety%20Disclosures) This item is not applicable to the company - **Not applicable**[149](index=149&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=23&type=section&id=Item%205%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Expeditors' common stock trades on NASDAQ, with the company declaring $1.34 per share in dividends and repurchasing 5 million shares in Q4 2022 Semi-Annual Dividends Per Share | Declaration Date | Amount per Share | | :--- | :--- | | June 15, 2022 | $0.67 | | December 15, 2022 | $0.67 | | June 15, 2021 | $0.58 | | December 15, 2021 | $0.58 | Issuer Purchases of Equity Securities (Q4 2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Oct 1-31, 2022 | — | $ — | | Nov 1-30, 2022 | 4,345,240 | $113.00 | | Dec 1-31, 2022 | 654,760 | $111.14 | | **Total** | **5,000,000** | **$112.76** | - On February 20, 2023, the Board authorized repurchasing common stock to reduce outstanding shares from **150 million to 140 million**[154](index=154&type=chunk) [[Reserved]](index=25&type=section&id=Item%206%20%5BReserved%5D) This item is not applicable - **Not applicable**[158](index=158&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%207%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2022, revenues rose 3% while operating income and net earnings declined 4%, impacted by supply chain issues and a cyber-attack, despite strong operating cash flow - The **North Asia region** is the largest export-oriented region, contributing **34% of revenues** and **25% of operating income** in 2022[168](index=168&type=chunk) 2022 Financial Highlights | Metric | 2022 vs 2021 Change | | :--- | :--- | | Revenues | +3% | | Directly related operating expenses | +4% | | Operating income | -4% | | Net earnings to shareholders | -4% | - The February 2022 cyber-attack incurred **$65 million in net expenses** and an unquantifiable loss of revenues[174](index=174&type=chunk) - The company generated **$2.13 billion in operating cash flows** and returned **$1.80 billion to shareholders** in 2022[174](index=174&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Results of Operations (in thousands) | | 2022 | 2021 | % Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | **$17,071,284** | **$16,523,517** | **3%** | | Airfreight services revenues | $5,886,886 | $6,771,402 | (13)% | | Ocean freight services revenues | $6,544,559 | $5,545,818 | 18% | | Customs brokerage revenues | $4,639,839 | $4,206,297 | 10% | | **Total Overhead Expenses** | **$2,670,016** | **$2,556,036** | **4%** | | **Operating Income** | **$1,824,371** | **$1,909,326** | **(4)%** | | **Net Earnings Attributable to Shareholders** | **$1,357,399** | **$1,415,492** | **(4)%** | - Airfreight services revenues **decreased 13%** in 2022 due to a **17% decrease in tonnage**, despite a 3% increase in average sell rates[187](index=187&type=chunk) - Ocean freight services revenues **increased 18%** in 2022, driven by a **36% increase in average sell rates**, despite a 10% decrease in container volume[192](index=192&type=chunk)[193](index=193&type=chunk) - Customs brokerage revenues **rose 10%**, partly due to **$47 million in incremental demurrage charges** from the cyber-attack downtime[198](index=198&type=chunk) - Other overhead expenses **increased 24%** in 2022, driven by **$18 million in cyber-attack costs** and a **$22 million non-income tax contingency**[204](index=204&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) - Net cash from operating activities **increased to $2.13 billion** in 2022 from $868 million in 2021, primarily due to improved accounts receivable collection[214](index=214&type=chunk) - As of December 31, 2022, the company held **$2.46 billion in working capital**, including **$2.03 billion in cash**, with no long-term debt[214](index=214&type=chunk) - Cash used in financing activities totaled **$1.69 billion** in 2022, primarily for repurchasing **14.5 million shares** of common stock[218](index=218&type=chunk) - Anticipated capital expenditures for 2023 are estimated at **$100 million**, an increase from $87 million in 2022[217](index=217&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=36&type=section&id=Item%207A%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risks are foreign exchange rates and short-term interest rates, managed through accelerated currency settlements and minimal long-term debt - A hypothetical **10% weakening of the U.S. dollar** in 2022 would have increased operating income by **$94 million**, while a 10% strengthening would have reduced it by **$77 million**[228](index=228&type=chunk) - The company manages foreign currency risk by **accelerating international currency settlements**, not derivatives, incurring **$2 million in net foreign currency losses** in 2022[229](index=229&type=chunk) - As of December 31, 2022, the company had **$2.03 billion in cash** and no long-term debt, resulting in insignificant interest rate risk exposure[231](index=231&type=chunk) [Financial Statements and Supplementary Data](index=38&type=section&id=Item%208%20Financial%20Statements%20and%20Supplementary%20Data) This section lists the consolidated financial statements and independent auditor reports included in the filing - This item provides the index to the company's **audited consolidated financial statements**, including Balance Sheets, Statements of Earnings, and Cash Flows, with notes and auditor reports[232](index=232&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=39&type=section&id=Item%209%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no disagreements with its accountants on accounting and financial disclosure - **None**[233](index=233&type=chunk) [Controls and Procedures](index=39&type=section&id=Item%209A%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of December 31, 2022, due to a material weakness in IT general control over database changes, with remediation underway - Management concluded that disclosure controls and procedures were **not effective** as of December 31, 2022, due to a **material weakness in internal control** over financial reporting[233](index=233&type=chunk) - The material weakness, identified in Q4 2022, relates to an **ineffective IT control** for reviewing and authorizing direct database changes to key systems[236](index=236&type=chunk) - Remediation efforts, including strengthening IT change management, are underway and expected to be completed by **end of 2023**, with no improper changes found in review[239](index=239&type=chunk) - KPMG LLP issued an **adverse opinion** on the effectiveness of internal control over financial reporting as of December 31, 2022[237](index=237&type=chunk)[277](index=277&type=chunk) [Other Information](index=40&type=section&id=Item%209B%20Other%20Information) This item is not applicable - **Not applicable**[245](index=245&type=chunk) [Disclosures Regarding Foreign Jurisdictions That Prevent Inspections](index=40&type=section&id=Item%209C%20Disclosures%20Regarding%20Foreign%20Jurisdictions%20That%20Prevent%20Inspections) This item is not applicable - **Not applicable**[246](index=246&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=41&type=section&id=Item%2010%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the May 2, 2023 Proxy Statement - Required information is incorporated by reference from the **definitive proxy statement** for the annual shareholders' meeting on May 2, 2023[248](index=248&type=chunk) [Executive Compensation](index=41&type=section&id=Item%2011%20Executive%20Compensation) Executive compensation information is incorporated by reference from the May 2, 2023 Proxy Statement - Required information is incorporated by reference from the **definitive proxy statement** for the annual shareholders' meeting on May 2, 2023[251](index=251&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=41&type=section&id=Item%2012%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated by reference, with **2.86 million** securities issuable and **3.17 million** available for future issuance as of December 31, 2022 Equity Compensation Plan Information (as of Dec 31, 2022) | Plan Category | Securities to be Issued Upon Exercise | Weighted-Average Exercise Price | Securities Available for Future Issuance | | :--- | :--- | :--- | :--- | | Equity Compensation Plans Approved by Security Holders | 2,861,347 | $44.86 | 3,172,538 | | Equity Compensation Plans Not Approved by Security Holders | — | — | — | | **Total** | **2,861,347** | **$44.86** | **3,172,538** | [Certain Relationships and Related Transactions and Director Independence](index=42&type=section&id=Item%2013%20Certain%20Relationships%20and%20Related%20Transactions%20and%20Director%20Independence) Information on certain relationships and director independence is incorporated by reference from the May 2, 2023 Proxy Statement - Required information is incorporated by reference from the **definitive proxy statement** for the annual shareholders' meeting on May 2, 2023[255](index=255&type=chunk) [Principal Accounting Fees and Services](index=42&type=section&id=Item%2014%20Principal%20Accounting%20Fees%20and%20Services) Information on principal accounting fees and services is incorporated by reference from the May 2, 2023 Proxy Statement - Required information is incorporated by reference from the **definitive proxy statement** for the annual shareholders' meeting on May 2, 2023[256](index=256&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=43&type=section&id=Item%2015%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits included in the Form 10-K filing - This item provides a list of all **financial statements, schedules, and exhibits** included in the Form 10-K filing[258](index=258&type=chunk)[261](index=261&type=chunk) [Form 10-K Summary](index=45&type=section&id=Item%2016%20Form%2010-K%20Summary) The company indicates there is no Form 10-K summary - **None**[262](index=262&type=chunk)
Expeditors International of Washington(EXPD) - 2022 Q3 - Quarterly Report
2022-11-08 21:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |----------------------------------------------------------------------------|------------------------------------------| | | | | Commission File Nu ...
Expeditors International of Washington(EXPD) - 2022 Q1 - Quarterly Report
2022-05-09 16:49
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |-----------------------------------------------------------------------------------------------|------------------------------------------| | | | | Com ...
Expeditors International of Washington(EXPD) - 2021 Q4 - Annual Report
2022-03-15 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-13468 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. (Exact name of registrant as specified in its charter) Washington 91-1069248 (State or other j ...
Expeditors International of Washington(EXPD) - 2021 Q3 - Quarterly Report
2021-11-04 18:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |-----------------------------------------------------------------------------------------------|------------------------------------------| | | | | ...
Expeditors International of Washington(EXPD) - 2021 Q1 - Quarterly Report
2021-05-06 15:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |-----------------------------------------------------------------------------------------------|------------------------------------------| | | | | Com ...
Expeditors International of Washington(EXPD) - 2020 Q4 - Annual Report
2021-02-19 20:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-13468 EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. (Exact name of registrant as specified in its charter) Washington 91-1069248 (State or other j ...
Expeditors International of Washington(EXPD) - 2019 Q1 - Quarterly Report
2019-05-08 16:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ (Mark One) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value EXPD NASDAQ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...