Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Operating Activities:
Net earnings	$ 223,078	$ 229,926	$ 611,096	$ 575,477
Adjustments to reconcile net earnings to net cash from operating activities:
Provisions for losses (recoveries) on accounts receivable	839	(582)	2,651	1,456
Deferred income tax benefit	(1,565)	(1,057)	(9,012)	(5,680)
Stock compensation expense	18,046	9,760	56,862	47,836
Depreciation and amortization	14,248	15,774	42,699	45,914
Other, net	1,616	162	8,381	4,032
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(37,828)	(301,167)	12,337	(647,794)
(Decrease) increase in accounts payable and accrued liabilities	(16,747)	107,535	26,719	402,818
Decrease (increase) in deferred contract costs	48,449	(30,657)	102,805	(216,977)
(Decrease) increase in contract liabilities	(53,358)	50,527	(125,685)	254,902
Increase in income taxes payable, net	21,740	20,331	7,412	13,163
Increase in other, net	(17,150)	(10,580)	(13,063)	(1,502)
Net cash from operating activities	201,368	89,972	723,202	473,645
Investing Activities:
Purchase of property and equipment	(11,098)	(12,291)	(40,125)	(30,415)
Other, net	924	(225)	1,104	(62)
Net cash from investing activities	(10,174)	(12,516)	(39,021)	(30,477)
Financing Activities:
Proceeds from borrowings on lines of credit	4,717	10,636	5,341	14,762
Payments on borrowings on lines of credit	(2,728)	(191)	(3,065)	(20,300)
Proceeds from issuance of common stock	61,187	53,256	79,362	67,734
Repurchases of common stock	(212,294)	(140,031)	(620,764)	(602,855)
Dividends paid	0	0	(104,139)	(102,638)
Payments for taxes related to net share settlement of equity awards	0	0	(10,353)	(15,348)
Distribution to noncontrolling interest	(491)	0	(1,837)	0
Net cash from financing activities	(149,609)	(76,330)	(655,455)	(658,645)
Effect of exchange rate changes on cash and cash equivalents	(7,580)	20,194	13,121	(4,233)
Change in cash and cash equivalents	34,005	21,320	41,847	(219,710)
Cash and cash equivalents at beginning of period	1,156,162	1,271,853	1,148,320	1,512,883
Cash and cash equivalents at end of period	1,190,167	1,293,173	1,190,167	1,293,173
Taxes Paid:
Income taxes	$ 53,528	$ 63,046	$ 219,429	$ 196,649

EXPEDITORS INTERNATIONAL OF WASHINGTON INC 10-Q