Other selling, general, and administrative expenses increased by 2.5% YoY, primarily due to a $44.5 million loss on the divestiture of the Europe Surface Transportation business. This strategic decision reflects a shift in focus towards core modes.

Adjusted gross profits increased 6.2 percent to $2.8 billion, primarily driven by higher adjusted gross profit per transaction in truckload and ocean services. This indicates a successful strategy of focusing on high-margin services.

The company undertook a restructuring program in 2024, resulting in $45.7 million in charges, primarily related to workforce reductions and facility rationalization. This initiative is expected to improve long-term profitability.

Personnel expenses decreased by 0.6% to $1.5 billion, primarily due to cost optimization efforts and productivity improvements. This demonstrates management's ability to control costs and improve efficiency.

Average employee headcount decreased significantly from 16,041 in 2023 to 14,386 in 2024, reflecting cost optimization efforts and productivity improvements. This suggests improved efficiency in operations.

The company continues to invest in technology and AI to automate processes and improve efficiency. This is expected to lead to better service, faster speed-to-market, and more cost savings for customers.

The 10-K highlights the increasing frequency and sophistication of cyberattacks, emphasizing the potential for material service outages, data breaches, and reputational damage. The interconnected nature of the supply chain increases vulnerability.

The company's international operations are subject to risks including changes in tariffs, trade restrictions, difficulties in managing foreign operations, and limitations on repatriation of funds. These risks could restrict the company's ability to operate in affected regions.

The company acknowledges the potential for negative impacts from climate change, including extreme weather events, increased regulation, and shifts in customer demands. These impacts may disrupt operations and negatively affect financial condition.

The 10-K acknowledges the highly competitive and fragmented nature of the transportation services industry, with competition from traditional and non-traditional logistics companies. Increased competition could reduce market opportunity and create downward pressure on freight rates.

The company emphasizes its proprietary technology, including the Navisphere platform, as a key competitive advantage. Reliance on intellectual property and proprietary technology subjects the company to certain risks.

The company highlights its knowledgeable people, strong relationships, and global suite of services as significant competitive advantages. These factors help the company innovate and execute supply chain strategies for customers.

Personnel expenses saw a slight decrease, driven by cost optimization efforts including lower average employee headcount. This indicates improvements in operational efficiency.

Average truckload linehaul cost per mile, excluding fuel surcharges, decreased approximately 5.5 percent during 2024. This cost reduction contributes to improved profitability in truckload services.

The company continues to invest in software and technology to transform processes and increase efficiency. These investments are intended to deliver scalable solutions and improve customer and carrier experience.

The company emphasizes its proprietary technology, including the Navisphere platform, as a key competitive advantage. This technology brings the value of AI, machine learning, and data science to customers.

The company continues to drive digital transformation and is expanding the use of AI and machine learning technologies. This includes creating proprietary technology to automate steps across the lifecycle of a shipment.

The company has launched industry-first tools such as Procure IQ, Emissions IQ, and Market Rate IQ to help shippers optimize transportation, reduce carbon emissions, and increase savings. These tools demonstrate a commitment to innovation.

Capital expenditures primarily consisted of investments in software, which are intended to deliver scalable solutions by transforming processes and accelerating development. This reflects a strategic focus on technology.

No shares were repurchased in 2024, indicating a shift in capital allocation priorities. The company may be prioritizing other uses of cash, such as debt reduction or acquisitions.

The company remains committed to its quarterly dividend, demonstrating a continued focus on returning capital to shareholders. This is a positive signal for investors.

The Board of Directors and Talent and Compensation Committee oversee human capital management efforts and receive regular updates on key strategic initiatives. This demonstrates a commitment to ESG principles.

The company and the C.H. Robinson Foundation contributed more than $4 million to approximately 1,125 charities in 2024. Employees also donated $1 million and volunteered more than 10,000 hours.

The company focuses its sustainability efforts on helping customers meet their sustainability goals, reducing its own greenhouse gas emissions, and contributing to advancements in sustainability within the transportation industry.

The North American surface transportation market continued to experience excess carrier capacity relative to shipper demand throughout 2024. This oversupply resulted in very competitive market conditions.

The global forwarding market experienced significant volatility in 2024, impacted by re-routing, extended transit times, and improving demand. The Red Sea conflict strained global carrier capacity and impacted ocean freight rates.

Economic recessions could have a significant, adverse impact on the business. The transportation industry historically has experienced cyclical fluctuations in financial results due to economic recessions, downturns in business cycles of our customers, interest rate fluctuations, currency fluctuations, and other economic factors beyond our control.