Expeditors International of Washington, Inc. provides a full suite of global logistics services, offering customers a network of people and integrated information systems to support the movement and strategic positioning of goods. As a third-party logistics provider, Expeditors purchases cargo space from carriers and resells that space to its customers. The company provides a broad range of transportation services and customer solutions, such as customs brokerage, order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance, and other customized logistics and consulting solutions. Expeditors does not compete for overnight courier or small parcel business and does not own aircraft or ships.

• Employees: Approximately 18,000 (as of December 31, 2023)
• Geographic Footprint: Operates in over 60 countries
• Headquarters: Seattle, Washington
• Founded: Not specified in filing
• Number of locations/facilities: Approximately 440 locations worldwide, with 105 in the United States and 19 owned
• Revenue: $9.3 billion (FY2023)
• Market Share: Not specified in filing
• Key Subsidiaries/Brands: Expeditors International Ocean, Inc. (EIO)

• CEO: Jeffrey S. Musser (President, Chief Executive Officer and Director)
• President, Global Geographies and Operations: Daniel R. Wall
• President, Global Products: Kelly K. Blacker
• President, Global Products: Blake R. Bell
• CFO: Bradley S. Powell (Senior Vice President and Chief Financial Officer)
• Chief Information Officer: Christopher J. McClincy (Senior Vice President and Chief Information Officer)
• Chief Strategy Officer: Benjamin G. Clark (Senior Vice President, Chief Strategy Officer)
• General Counsel and Corporate Secretary: Jeffrey F. Dickerman (Senior Vice President, General Counsel and Corporate Secretary)

Jeffrey S. Musser has been with Expeditors since 1983. Daniel R. Wall joined in 1987. Blake R. Bell joined in 1995. Kelly K. Blacker joined in 1994. Bradley S. Powell joined in 2008. Christopher J. McClincy joined in 1998. Benjamin G. Clark joined in 2015. Jeffrey F. Dickerman joined in 2004.

• Annual Revenue: $9.3 billion (FY2023)
• Net Income: $752.9 million (FY2023)
• Total Assets: $4.5 billion (as of December 31, 2023)
• Number of Employees: Approximately 18,000 (as of December 31, 2023)
• Key Financial Highlights: Annual revenue decreased by 45% and net income decreased by 45% compared to the previous year.

Expeditors' primary services include:

• Airfreight Services: Acts as a freight consolidator or as an agent for the airline, offering routing expertise, familiarity with local business practices, and knowledge of export and import documentation.
• Ocean Freight and Ocean Services: Offers ocean freight consolidation, direct ocean forwarding, and order management.
• Customs Brokerage and Other Services: Helps customers clear shipments through customs by preparing and filing required documentation, calculating and providing for payment of duties and other taxes, and arranging for local pick up, storage and delivery at destinations. Also includes Transcon (intra-continental ground transportation) and warehousing and distribution services.

Expeditors manages its company along five geographic areas of responsibility: Americas, North Asia, South Asia, Europe, and Middle East, Africa and India (MAIR). North Asia is the largest export-oriented region and accounted for 23% of revenues, 28% of directly related cost of transportation and other expenses and 22% of operating income for the year ended December 31, 2023.

Expeditors' strategic plan is to achieve long-term, sustainable and profitable growth by focusing on the right markets and, within each market, on the right customers that lead to profitable business growth through the aggressive marketing of its service offerings. Key strategic initiatives include:

• Ensuring that base-line strategies for air, ocean and customs services for every district office and region lead to growth at the relevant market rates, profits and volumes by services.
• Growing business services into and out of Europe, with particular focus on certain defined markets beyond base-line growth expectations.
• Growing customs brokerage offering throughout Asia by leveraging strength and expertise in customs brokerage services and developing critical talent, processes and tools.

The company focuses on organic growth and utilizes a single enterprise technology platform designed and built by logistics technology professionals for logistics professionals. The platform is built on principles of innovation, agility, collaboration, performance and consistency across the Expeditors global network to meet diverse and complex global logistics and supply chain needs.

The global logistics services industry is intensely competitive. There are a large number of companies competing in one or more segments of the industry, but the number of firms with a global network that offer a full complement of logistics services is more limited. Certain air and ocean carriers are entering into onshore services as they pursue more profitable and less commoditized market segments. There are also new technology-based competitors that have entered the industry with substantial capital funding.

• Market Position: Depending on the location of the shipper and the importer, Expeditors must compete against both niche players and larger entities.
• Key Competitors: Not specified in filing
• Industry Trends: The primary competitive factors in the global logistics services industry continue to be price and quality of service, including reliability, responsiveness, expertise, convenience and scope of operations.

• Industry Risks: Any reduction in international commerce or disruption in global trade may adversely impact business and operating results. The industry is highly competitive, and failure to compete or respond to customer requirements could damage business and results of operations.
• Operational Risks: Dependence on personnel and any inability to hire, develop or retain key employees may have a negative impact on operations. Reliance on the flexibility and sophistication of the technologies used in core business and failure to properly manage, enhance and update technologies could lead to disruptions in operations or ability to remain competitive. Any significant disruptions to the network and systems continuity could have an adverse impact to business and financial results.
• Financial Risks: Reliance on service providers, including air, ocean, ground freight carriers and others and if they have insufficient capacity available relative to market demand or have reduced capacity to provide service, it may adversely impact business and operating results. Failure to grow and gain profitable market share could adversely impact ability to remain competitive and could adversely impact business. Insurance coverage does not cover all potential losses and significant uninsured losses could adversely impact financial results.
• Regulatory Risks: Subject to a complex regulatory environment, and failure to comply with and adapt to these regulations could result in penalties or otherwise adversely impact business. Operates globally and any inability to safeguard operations or comply with anti-corruption laws and trade compliance regulations would adversely impact reputation and business. Subject to taxation in multiple jurisdictions, and although tax estimates are reasonable, any adverse determinations in tax audits could negatively impact financial results.