Expeditors international of washington, inc. (EXPD)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09Sep'08Jun'08
Operating Activities:
Net earnings

122,782

137,748

160,627

153,530

140,111

179,577

163,067

140,946

136,200

167,455

120,606

108,755

93,567

111,098

107,949

116,439

97,047

115,100

118,736

118,329

107,332

100,740

102,797

91,728

84,195

84,009

92,729

92,663

80,610

83,499

88,727

84,021

76,722

93,140

106,876

95,020

91,207

96,448

96,038

90,409

61,310

69,650

57,564

53,814

59,369

86,146

71,606

Adjustments to reconcile net earnings to net cash from operating activities:
Provisions for losses (recoveries) on accounts receivable

1,820

-454

757

1,584

-1,888

1,576

1,969

528

-265

2,169

1,741

515

931

146

1,321

562

578

1,178

134

584

277

818

564

496

-1,115

-421

1,496

100

941

302

463

-388

-467

166

-629

-63

1,853

305

1,284

-618

2,443

13

-778

-1,075

2,644

1,503

-396

Deferred income tax (benefit) expense

-5,139

4,499

-5,822

3,697

2,108

5,491

-23,610

3,235

2,853

-27,695

-28,854

7,261

5,593

13,493

-1,439

-6,115

9,896

4,687

-7,611

8,986

11,937

-14,576

-2,085

2,891

7,194

-730

-33,185

5,818

7,122

7,309

4,588

-5,739

5,481

5,598

-9,328

1,601

-1,936

8,048

-565

10,814

-7,728

11,336

-6,701

-12,695

6,451

1,117

7,647

Excess tax benefits from stock plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

366

1,480

84

47

495

489

656

0

584

1,099

1,110

59

806

3,426

232

537

2,285

2,246

12,274

3,470

4,107

4,012

345

246

2,073

3,062

485

7,889

Stock compensation expense

11,156

12,182

12,155

23,824

13,382

12,976

13,902

18,002

11,267

11,872

11,210

17,203

10,623

10,953

10,476

12,957

10,831

10,926

10,919

11,663

9,907

10,313

10,049

11,877

10,294

10,753

11,015

11,040

11,005

11,212

11,320

10,926

10,600

10,832

12,738

10,236

10,472

10,696

10,846

11,003

11,198

10,070

10,794

11,371

6,900

11,513

11,323

Depreciation and amortization

12,660

12,494

12,386

12,677

13,393

13,186

13,335

13,576

13,922

13,069

12,272

12,042

11,927

11,943

11,882

11,642

11,329

11,588

11,475

11,420

11,529

11,752

12,741

12,417

12,382

12,490

12,629

11,674

11,278

10,695

10,030

9,670

9,545

9,146

9,199

9,257

9,174

9,310

9,085

9,110

9,395

9,910

9,923

10,244

9,958

10,222

10,056

Gain on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

21

30

-

57

109

295

40

-8

6

4

46

30

Other, net

-433

-129

-652

29

-189

123

-666

-56

-48

4,234

-377

174

351

3,581

-11

6

-36

139

-2

-27

-86

5

-139

-68

-138

-208

-187

-241

-208

-3,181

-1,260

-206

-217

-668

-1,210

-311

-307

17

-387

-367

-478

-

365

365

362

396

515

Changes in operating assets and liabilities:
Decrease in accounts receivable

-16,680

-19,744

-43,885

28,187

-230,477

58,650

210,092

46,876

-100,647

60,981

126,102

73,142

-75,454

108,384

58,279

48,344

-112,710

-43,709

-2,466

-63,234

46,790

75,513

58,984

84,618

-12,228

50,093

5,115

48,223

-38,856

16,044

23,520

63,260

-12,968

-58,717

4,312

14,173

-6,683

-77,947

34,203

219,602

12,965

121,395

94,025

-60,379

-153,964

51,422

91,778

Increase (decrease) in accounts payable and accrued expenses

917

-40,788

-58,816

39,900

-122,283

-41,824

115,629

58,075

-45,844

18,499

61,833

52,623

-18,324

28,568

38,070

51,422

-15,344

-87,475

-19,622

8,038

14,895

39,388

23,113

61,377

29,546

9,335

-8,875

45,080

-1,390

-30,341

-23,267

70,674

13,559

-54,879

-24,070

7,943

30,187

-60,302

25,330

121,941

43,169

58,698

71,711

-20,329

-80,170

13,796

67,024

Increase (decrease) in contract liabilities

21,201

-164

-13,211

13,003

-36,725

-5,221

36,256

20,294

-7,401

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in deferred contract costs

16,068

-261

-10,301

13,010

-31,259

-9,138

34,623

20,019

-3,407

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in income taxes payable, net

10,488

14,812

-671

-49,606

16,993

-10,433

9,292

-38,059

19,509

5,450

38,149

-47,159

19,824

4,242

7,197

-34,734

10,925

14,272

19,978

-39,000

23,132

14,117

2,050

-47,370

18,205

-6,205

30,114

-33,692

18,218

-11,520

6,819

-14,132

20,274

-13,654

10,505

-33,665

33,577

2,725

12,438

-1,609

25,941

-9,640

-5,350

-13,601

15,885

21,482

-32,697

(Increase) decrease in other, net

11,930

-4,783

744

1,676

-2,467

3,643

-930

1,202

-1,134

-782

5,872

-3,290

3,565

-4,077

1,395

-1,361

2,055

-2,072

3,801

1,187

-3,569

-2,582

3,646

3,485

-1,279

-3,263

4,702

91

485

-3,566

7,195

-1,642

-1,924

1,620

8,344

-3,896

1,415

-1,484

4,095

-2,947

1,811

-2,285

803

1,308

15

2,544

-622

Net cash from operating activities

165,000

165,246

161,499

155,707

289,483

102,050

86,721

148,556

235,477

126,386

85,360

81,214

195,679

72,555

115,793

105,184

235,953

117,764

132,676

181,728

134,394

89,532

86,691

44,886

173,857

61,953

96,293

84,026

165,264

60,749

69,166

92,814

147,397

107,936

93,305

78,057

177,833

134,831

113,018

20,546

127,123

30,970

42,462

85,086

172,282

91,678

36,003

Investing Activities:
Purchase of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18

0

46,986

22

20

40,275

15,301

81,130

16,226

9,991

89,899

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,236

38,788

0

40,296

0

86,107

15,643

20,976

89,715

66

96

38

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in short-term investments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-113

-15,878

15,780

-

-

449

89

-

-137

-6

36

22

-17

13

-44

6

-169

Purchase of property and equipment

6,127

9,079

15,521

12,987

9,435

9,832

11,733

12,113

13,796

27,413

34,462

20,380

12,761

19,343

12,659

13,279

14,035

12,480

9,546

12,912

9,445

10,822

8,255

9,635

8,760

10,720

15,482

17,141

10,068

10,554

10,170

9,814

17,088

19,261

20,619

17,110

21,125

15,755

10,953

8,118

7,582

9,364

9,514

7,166

8,656

24,631

14,316

Escrow deposit for land acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

27,101

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepayment on long-term leases, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,898

7,344

-

0

0

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24

42

43

-

98

111

59

151

48

33

44

106

139

Other, net

143

1,097

-232

-1,038

-255

254

-1,109

1,564

431

182

261

-40

671

-456

-1,617

-4,414

559

1,113

2,666

14

-198

842

-370

1,536

-1,670

-1,680

-306

-1,264

444

-15

104

91

-470

115

632

64

1,442

84

-1,208

707

188

748

-438

109

1,482

-635

308

Net cash from investing activities

-6,270

-9,597

-15,289

-11,949

-9,180

-9,871

-10,624

-13,677

-14,227

56,810

-34,723

-20,340

-13,432

-18,695

-11,042

-8,865

-14,594

-5,117

26,576

-59,912

31,027

-11,684

37,947

-37,930

-67,244

64,449

-25,101

-105,680

-10,474

-10,408

-10,161

5,973

-32,398

-18,918

-21,227

-17,581

-22,613

-16,214

-9,510

-8,708

-7,747

-5,790

-10,909

-14,599

-10,050

-23,896

-14,316

Financing Activities:
Repayments of short-term debt, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-810

Proceeds from issuance of common stock

23,399

28,055

60,713

32,287

27,190

13,166

47,806

95,363

26,397

42,311

65,915

51,501

45,365

37,668

57,522

48,488

41,635

16,263

54,606

25,047

35,048

10,800

28,452

22,125

7,892

7,660

33,615

7,548

10,929

7,510

24,599

7,482

12,920

2,055

30,966

15,821

7,804

38,826

37,718

11,020

12,220

4,414

25,107

8,868

8,536

26,737

15,537

Repurchases of common stock

283,240

92,138

61,999

190,589

44,334

92,138

147,828

235,572

172,360

137,522

202,776

84,052

53,908

69,561

101,690

96,115

70,292

214,516

209,970

128,137

77,368

75,621

117,044

131,391

226,725

136,730

85,925

21,600

17,681

108,921

87,227

84,401

21,865

3,499

43,298

45,690

19,584

106,862

67,782

53,649

18,019

7,434

34,103

23,760

19,212

75,332

50,970

Excess tax benefits from stock plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

366

1,480

84

47

495

489

656

0

584

1,099

1,110

59

806

3,426

232

537

2,285

2,246

12,274

3,470

4,107

4,012

345

246

2,073

3,062

485

7,889

Dividends Paid

-

-

-

85,184

-

-

-

79,180

-

-

0

75,726

-

-

0

73,000

-

-

0

68,781

-

-

0

62,807

-

-

0

61,899

-

-

0

59,358

-

-

0

53,014

-

-

0

42,397

-

-

0

40,276

-

-2

34,163

Payments for taxes related to net share settlement of equity awards

1,396

-

-

6,674

-

-

-

3,215

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of noncontrolling interest

-

-

-

-

-

-

613

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,730

0

0

0

0

-

-

-

-

-

-

-

-

1,729

0

0

2,122

0

0

Distributions to noncontrolling interest

-

-

-

-

-

-

633

-

-

-

0

-

-

-

-

-

-

1,265

0

0

857

418

0

0

85

0

1,161

0

0

-

1,177

-

-

-

822

-

-

-

963

-

-

-

1,009

-

-

772

0

Net cash from financing activities

-261,237

-149,452

-1,286

-250,160

-17,144

-157,903

-101,268

-222,604

-145,963

-170,884

-136,861

-108,277

-8,543

-105,351

-44,168

-120,627

-28,657

-268,256

-155,364

-171,505

-41,697

-126,982

-88,545

-171,578

-218,429

-189,807

-53,471

-75,367

-13,383

-158,311

-63,746

-135,471

-5,519

-54,342

-12,617

-80,598

-9,534

-98,325

-27,557

-80,919

-1,787

-44,758

-9,759

-53,095

-9,736

-48,880

-62,517

Effect of exchange rate changes on cash and cash equivalents

-16,011

8,324

-11,604

-377

2,535

-1,153

-5,071

-24,322

6,515

5,343

4,758

6,270

7,904

-16,774

1,853

-9,345

13,419

-5,278

-20,932

2,272

-17,687

-14,239

-16,174

4,137

-4,790

727

6,500

-11,557

-7,562

1,170

8,136

-11,984

9,079

-1,134

-24,477

7,481

8,320

6,947

20,975

-12,267

-1,870

-1,762

9,493

14,911

-9,845

-26,041

3,352

Change in cash and cash equivalents

-118,518

14,521

133,320

-106,779

265,694

-66,877

-30,242

-112,047

81,802

17,655

-81,466

-41,133

181,608

-68,265

62,436

-33,653

206,121

-160,887

-17,044

-47,417

106,037

-63,373

19,919

-160,485

-116,606

-62,678

24,221

-108,578

133,845

-106,800

3,395

-48,668

118,559

33,542

34,984

-12,641

154,006

27,239

96,926

-81,348

115,719

-21,340

31,287

32,303

142,651

-7,139

-37,478

Taxes Paid:
Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48

13

4

-21

9

35

87

100

317

65

15

20

75

Income taxes

35,304

25,914

61,201

97,715

37,253

55,811

59,313

85,612

38,519

58,793

58,257

103,508

29,146

49,263

58,696

108,369

37,984

49,343

60,374

101,389

28,261

59,081

61,899

105,963

27,496

61,169

62,053

85,195

26,951

52,168

50,911

77,583

26,512

83,454

65,856

91,035

26,276

42,369

52,407

56,846

19,996

37,028

46,607

59,746

15,364

32,114

67,613