$CHRW
C. H. ROBINSON WORLDWIDE, INC.

2024 Q2 Form 10-Q Financial Statement

#000104327724000026 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.483B $4.412B
YoY Change 1.39% -4.32%
Cost Of Revenue $3.796B $3.755B
YoY Change 1.05% -4.37%
Gross Profit $687.4M $657.7M
YoY Change 3.29% -4.07%
Gross Profit Margin 15.33% 14.91%
Selling, General & Admin $494.1M $517.7M
YoY Change -7.27% -1.32%
% of Gross Profit 71.88% 78.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.05M $23.88M
YoY Change -3.55% -2.06%
% of Gross Profit 3.64% 3.63%
Operating Expenses $494.1M $517.7M
YoY Change -7.27% -1.32%
Operating Profit $178.1M $127.1M
YoY Change 34.28% -21.05%
Interest Expense -$21.53M -$16.78M
YoY Change 17.89% -40.63%
% of Operating Profit -12.09% -13.2%
Other Income/Expense, Net
YoY Change
Pretax Income $156.6M $110.4M
YoY Change 36.9% -16.88%
Income Tax $30.31M $17.45M
% Of Pretax Income 19.36% 15.81%
Net Earnings $126.3M $92.90M
YoY Change 29.73% -19.14%
Net Earnings / Revenue 2.82% 2.11%
Basic Earnings Per Share $1.06 $0.78
Diluted Earnings Per Share $1.05 $0.78
COMMON SHARES
Basic Shares Outstanding 117.1M shares 116.9M shares
Diluted Shares Outstanding 119.9M shares 119.6M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.2M $121.8M
YoY Change -46.15% -49.06%
Cash & Equivalents $113.2M $121.8M
Short-Term Investments
Other Short-Term Assets $154.8M $174.4M
YoY Change 4.6% 42.76%
Inventory
Prepaid Expenses
Receivables $2.911B $2.828B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.179B $3.124B
YoY Change 4.18% -3.42%
LONG-TERM ASSETS
Property, Plant & Equipment $139.6M $143.5M
YoY Change -12.3% -10.8%
Goodwill $1.469B $1.467B
YoY Change -0.05% -0.25%
Intangibles $36.76M $40.13M
YoY Change -30.1% -31.29%
Long-Term Investments
YoY Change
Other Assets $109.9M $111.2M
YoY Change -13.4% -9.6%
Total Long-Term Assets $2.333B $2.348B
YoY Change -0.88% -0.55%
TOTAL ASSETS
Total Short-Term Assets $3.179B $3.124B
Total Long-Term Assets $2.333B $2.348B
Total Assets $5.512B $5.472B
YoY Change 1.98% -2.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.432B $1.390B
YoY Change 5.38% -1.51%
Accrued Expenses $565.1M $534.4M
YoY Change 64.41% 49.55%
Deferred Revenue
YoY Change
Short-Term Debt $56.97M $63.65M
YoY Change -37.37% -11.44%
Long-Term Debt Due $188.0M $280.0M
YoY Change -76.96% -70.61%
Total Short-Term Liabilities $2.244B $2.274B
YoY Change -18.73% -22.85%
LONG-TERM LIABILITIES
Long-Term Debt $1.421B $1.421B
YoY Change 54.38% 54.39%
Other Long-Term Liabilities $3.522M $2.859M
YoY Change 17.2% 12.16%
Total Long-Term Liabilities $1.425B $1.424B
YoY Change 54.26% 54.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.244B $2.274B
Total Long-Term Liabilities $1.425B $1.424B
Total Liabilities $4.002B $4.042B
YoY Change -0.38% -4.08%
SHAREHOLDERS EQUITY
Retained Earnings $5.692B $5.640B
YoY Change 0.64% 0.14%
Common Stock $756.1M $747.0M
YoY Change 2.98% 2.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.510B $1.430B
YoY Change
Total Liabilities & Shareholders Equity $5.512B $5.472B
YoY Change 1.98% -2.21%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $126.3M $92.90M
YoY Change 29.73% -19.14%
Depreciation, Depletion And Amortization $25.05M $23.88M
YoY Change -3.55% -2.06%
Cash From Operating Activities $166.4M -$33.32M
YoY Change -25.98% -113.09%
INVESTING ACTIVITIES
Capital Expenditures $19.34M $8.620M
YoY Change -20.59% -24.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$19.34M -$22.47M
YoY Change -20.59% -16.61%
FINANCING ACTIVITIES
Cash Dividend Paid $74.58M
YoY Change 1.56%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -154.8M $34.70M
YoY Change -31.56% -116.84%
NET CHANGE
Cash From Operating Activities 166.4M -$33.32M
Cash From Investing Activities -19.34M -$22.47M
Cash From Financing Activities -154.8M $34.70M
Net Change In Cash -7.675M -$21.10M
YoY Change -70.07% -197.34%
FREE CASH FLOW
Cash From Operating Activities $166.4M -$33.32M
Capital Expenditures $19.34M $8.620M
Free Cash Flow $147.1M -$41.94M
YoY Change -26.63% -117.25%

Facts In Submission

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CY2023Q1 chrw Effective Income Tax Rate Reconciliation Deduction Section162m Limitation On Compensation Percent
EffectiveIncomeTaxRateReconciliationDeductionSection162mLimitationOnCompensationPercent
0.011
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.009
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.158
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.135
CY2024Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
20600000 usd
CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
1300000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22673000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15607000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4261884 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2686067 shares
CY2024Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
93835 shares
CY2024Q1 chrw Employee Stock Purchase Plan Employee Costs
EmployeeStockPurchasePlanEmployeeCosts
6072000 usd
CY2024Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
LITIGATION<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We 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.</span></div>
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4412311000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
127133000 usd
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
23878000 usd
CY2024Q1 us-gaap Assets
Assets
5472088000 usd
CY2024Q1 chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
14990 employee
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4611670000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
161033000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
24380000 usd
CY2023Q1 us-gaap Assets
Assets
5595584000 usd
CY2023Q1 chrw Entity Number Of Employees Weighted Average During Period
EntityNumberOfEmployeesWeightedAverageDuringPeriod
16902 employee
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4412311000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4611670000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
25637000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
24653000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1162000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1414000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
26799000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
26067000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
25223000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
24815000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
36810000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6739000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
66869000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
87850000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
74356000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
58237000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
43249000 usd
CY2024Q1 chrw Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
102221000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
432782000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
47679000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
385103000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14229000 usd
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2664000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
542000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
16351000 usd
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-100400000 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-80900000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19500000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2500000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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