$CHRW
C. H. ROBINSON WORLDWIDE, INC.

2023 Q4 Form 10-Q Financial Statement

#000104327723000036 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $4.222B $4.341B
YoY Change -16.68% -27.83%
Cost Of Revenue $3.603B $3.706B
YoY Change -16.18% -27.73%
Gross Profit $618.6M $634.8M
YoY Change -19.47% -28.45%
Gross Profit Margin 14.65% 14.62%
Selling, General & Admin $511.2M $521.5M
YoY Change -15.38% -13.02%
% of Gross Profit 82.63% 82.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.08M $25.50M
YoY Change -4.02% 10.99%
% of Gross Profit 3.73% 4.02%
Operating Expenses $511.2M $521.4M
YoY Change -15.38% -13.04%
Operating Profit $107.4M $113.5M
YoY Change -34.51% -60.53%
Interest Expense -$38.15M -$20.70M
YoY Change -10.19% 29.6%
% of Operating Profit -35.51% -18.23%
Other Income/Expense, Net
YoY Change
Pretax Income $69.28M $92.77M
YoY Change -43.01% -65.85%
Income Tax $38.31M $10.83M
% Of Pretax Income 55.29% 11.67%
Net Earnings $30.97M $81.95M
YoY Change -67.8% -63.71%
Net Earnings / Revenue 0.73% 1.89%
Basic Earnings Per Share $0.69
Diluted Earnings Per Share $0.26 $0.68
COMMON SHARES
Basic Shares Outstanding 116.7M shares 116.4M shares
Diluted Shares Outstanding 119.8M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $145.5M $174.7M
YoY Change -33.09% -6.84%
Cash & Equivalents $145.5M $174.7M
Short-Term Investments
Other Short-Term Assets $163.3M $137.5M
YoY Change 33.41% 71.92%
Inventory
Prepaid Expenses
Receivables $2.572B $2.647B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.881B $2.959B
YoY Change -19.74% -33.25%
LONG-TERM ASSETS
Property, Plant & Equipment $498.6M $150.9M
YoY Change -6.2% -4.94%
Goodwill $1.474B $1.465B
YoY Change 0.19% 0.48%
Intangibles $43.66M $46.58M
YoY Change -31.81% -31.62%
Long-Term Investments
YoY Change
Other Assets $114.1M $130.2M
YoY Change -2.74% 8.36%
Total Long-Term Assets $2.345B $2.358B
YoY Change -0.88% -0.16%
TOTAL ASSETS
Total Short-Term Assets $2.881B $2.959B
Total Long-Term Assets $2.345B $2.358B
Total Assets $5.225B $5.318B
YoY Change -12.25% -21.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.370B $1.376B
YoY Change -12.75% -17.27%
Accrued Expenses $369.0M $379.0M
YoY Change -23.82% -21.16%
Deferred Revenue
YoY Change
Short-Term Debt $66.38M $68.70M
YoY Change -35.9% -26.26%
Long-Term Debt Due $160.0M $663.0M
YoY Change -84.81% -14.9%
Total Short-Term Liabilities $2.052B $2.650B
YoY Change -38.25% -21.12%
LONG-TERM LIABILITIES
Long-Term Debt $1.420B $920.7M
YoY Change 54.39% -35.13%
Other Long-Term Liabilities $320.9M $3.773M
YoY Change -6.7% 154.93%
Total Long-Term Liabilities $1.741B $924.5M
YoY Change 37.77% -34.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.052B $2.650B
Total Long-Term Liabilities $1.741B $924.5M
Total Liabilities $3.807B $3.913B
YoY Change -17.27% -23.54%
SHAREHOLDERS EQUITY
Retained Earnings $5.621B $5.664B
YoY Change 0.54% 1.73%
Common Stock $754.1M $747.5M
YoY Change 1.45% 2.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.887B
YoY Change -0.33%
Treasury Stock Shares
Shareholders Equity $1.419B $1.405B
YoY Change
Total Liabilities & Shareholders Equity $5.225B $5.318B
YoY Change -12.25% -21.75%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $30.97M $81.95M
YoY Change -67.8% -63.71%
Depreciation, Depletion And Amortization $23.08M $25.50M
YoY Change -4.02% 10.99%
Cash From Operating Activities $49.85M $202.7M
YoY Change -93.55% -67.59%
INVESTING ACTIVITIES
Capital Expenditures $16.11M $16.70M
YoY Change -157.86% -153.44%
Acquisitions
YoY Change
Other Investing Activities $24.00K $1.300M
YoY Change -93.53%
Cash From Investing Activities -$16.09M -$15.40M
YoY Change -41.44% -50.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -66.33M -219.4M
YoY Change -90.86% -65.55%
NET CHANGE
Cash From Operating Activities 49.85M 202.7M
Cash From Investing Activities -16.09M -15.40M
Cash From Financing Activities -66.33M -219.4M
Net Change In Cash -32.57M -32.10M
YoY Change -259.82% -24.7%
FREE CASH FLOW
Cash From Operating Activities $49.85M $202.7M
Capital Expenditures $16.11M $16.70M
Free Cash Flow $33.74M $186.0M
YoY Change -95.79% -71.68%

Facts In Submission

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EffectiveIncomeTaxRateReconciliationTaxCreditTrueUpPercent
0.008
CY2023Q3 chrw Effective Income Tax Rate Reconciliation Tax Credit Net Foreign Subsidy Foreign Percent
EffectiveIncomeTaxRateReconciliationTaxCreditNetForeignSubsidyForeignPercent
-0.061
CY2022Q3 chrw Effective Income Tax Rate Reconciliation Tax Credit Net Foreign Subsidy Foreign Percent
EffectiveIncomeTaxRateReconciliationTaxCreditNetForeignSubsidyForeignPercent
-0.062
chrw Effective Income Tax Rate Reconciliation Tax Credit Net Foreign Subsidy Foreign Percent
EffectiveIncomeTaxRateReconciliationTaxCreditNetForeignSubsidyForeignPercent
-0.045
chrw Effective Income Tax Rate Reconciliation Tax Credit Net Foreign Subsidy Foreign Percent
EffectiveIncomeTaxRateReconciliationTaxCreditNetForeignSubsidyForeignPercent
-0.023
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.117
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.169
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.135
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.192
chrw Income Tax Expense Benefit Impact Of Repatriation Of Foreign Earnings Amount
IncomeTaxExpenseBenefitImpactOfRepatriationOfForeignEarningsAmount
2000000 usd
CY2023Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
44700000 usd
CY2023Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
1300000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15667000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25811000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37309000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
78346000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4261884 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3317410 shares
CY2023Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
47446 shares
CY2023Q3 chrw Employee Stock Purchase Plan Employee Costs
EmployeeStockPurchasePlanEmployeeCosts
3474000 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
LITIGATIONWe are not subject to any pending or threatened litigation other than routine litigation arising in the ordinary course of our business operations, including certain contingent auto liability cases. For some legal proceedings, we have accrued an amount that reflects the aggregate liability deemed probable and estimable, but this amount is not material to our condensed consolidated financial position, results of operations, or cash flows. Because of the preliminary nature of many of these proceedings, the difficulty in ascertaining the applicable facts relating to many of these proceedings, the inconsistent treatment of claims made in many of these proceedings, and the difficulty of predicting the settlement value of many of these proceedings, we are often unable to estimate an amount or range of any reasonably possible additional losses. However, based upon our historical experience, the resolution of these proceedings is not expected to have a material effect on our consolidated financial position, results of operations, or cash flows.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4341030000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
113522000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25544000 usd
CY2023Q3 us-gaap Assets
Assets
5317667000 usd
CY2023Q3 chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
15577 employee
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6015376000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
287609000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22975000 usd
CY2022Q3 us-gaap Assets
Assets
6795530000 usd
CY2022Q3 chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
18045 employee
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13374556000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
407178000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
75899000 usd
CY2023Q3 us-gaap Assets
Assets
5317667000 usd
chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
16240 employee
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19629804000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1102748000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
68723000 usd
CY2022Q3 us-gaap Assets
Assets
6795530000 usd
chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
17652 employee
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4341030000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6015376000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13374556000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19629804000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
68069000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
5340000 usd
us-gaap Lease Cost
LeaseCost
73409000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
72073000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
44184000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17004000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
89902000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
75691000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
62601000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
48451000 usd
CY2023Q3 chrw Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
121812000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
415461000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
47029000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
368432000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
28749000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4081000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7356000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
17312000 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-107800000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-88900000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-14900000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-49800000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19000000 usd

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