CONSOLIDATED STATEMENTS OF OPERATIONS
| (In thousands, except per share data) For the years ended December 31, | 2008 | 2007 | 2006 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Gross revenues: Transportation |
$ | 7,129,611 | $ | 5,971,784 | $ | 5,321,547 | |||
| Sourcing | 1,398,253 | 1,298,913 | 1,192,297 | ||||||
| Information Services | 50,750 | 45,526 | 42,350 | ||||||
| Total gross revenues | 8,578,614 | 7,316,223 | 6,556,194 | ||||||
| Cost of transportation, products, and handling: Transportation |
5,917,032 | 4,873,752 | 4,375,582 | ||||||
| Sourcing | 1,286,619 | 1,198,693 | 1,098,068 | ||||||
| Total cost of transportation, products, and handling | 7,203,651 | 6,072,445 | 5,473,650 | ||||||
| Gross profits | 1,374,963 | 1,243,778 | 1,082,544 | ||||||
| Selling, general, and administrative expenses: Personnel |
601,822 | 567,986 | 515,947 | ||||||
| Other selling, general, and administrative expenses | 201,555 | 166,108 | 148,752 | ||||||
| Total selling, general, and administrative expenses | 803,377 | 734,094 | 664,699 | ||||||
| Income from operations | 571,586 | 509,684 | 417,845 | ||||||
| Investment and other income | 6,801 | 13,830 | 11,843 | ||||||
| Income before provision for income taxes | 578,387 | 523,514 | 429,688 | ||||||
| Provision for income taxes | 219,210 | 199,253 | 162,763 | ||||||
| Net income | $ | 359,177 | $ | 324,261 | $ | 266,925 | |||
| Basic net income per share |
$ | 2.12 | $ | 1.90 | $ | 1.56 | |||
| Diluted net income per share | $ | 2.08 | $ | 1.86 | $ | 1.53 | |||
| Basic weighted average shares outstanding |
169,056 | 170,493 | 170,888 | ||||||
| Dilutive effect of outstanding stock awards | 3,677 | 3,547 | 3,899 | ||||||
| Diluted weighted average shares outstanding | 172,733 | 174,040 | 174,787 | ||||||
See accompanying notes to the consolidated financial statements.
