EXPD · 10-Q · 2026Q3 · Full report

Liquidity and Cash Position

EXPEDITORS INTERNATIONAL OF WASHINGTON INC · 2026-11-04 · Importance 42 · Surprise 14 · In source text

At September 30, 2026, working capital was $1.662 billion, including $1.092 billion of cash and cash equivalents, and the company had no long-term obligations or debt other than recorded lease liabilities. Operating cash flow was $213 million in the third quarter, up from $201 million a year earlier, but was $700 million for the first nine months, down from $723 million primarily because of working-capital changes. Cash held by non-U.S. subsidiaries was $656 million, including $13 million in U.S. banks. Short-term credit-line borrowings were $37 million, and standby letters of credit and guarantees totaled $88 million; fixed lease payments were $814 million, including $151 million due within 12 months.

Key facts

• At September 30, 2026, Expeditors had no long-term obligations or debt other than recorded lease liabilities. source
• At September 30, 2026, Expeditors had fixed lease payment obligations of $814 million, including $151 million payable within 12 months. source
• At September 30, 2026, $656 million of Expeditors’ cash and cash equivalent balances were held by non-U.S. subsidiaries, of which $13 million was held in U.S. banks. source
• At September 30, 2026, Expeditors had working capital of $1,662 million, including cash and cash equivalents of $1,092 million. source
• Expeditors had purchase obligations totaling $302 million outstanding as of September 30, 2026. source
• Management expects Expeditors’ current cash position and operating cash flows to be sufficient to meet capital and liquidity requirements for at least the next 12 months and thereafter for the foreseeable future. source
• Expeditors’ operating cash flows were $213 million and $700 million in the three and nine months ended September 30, 2026, compared with $201 million and $723 million in the same periods of 2025. source
• Expeditors generated $213 million of cash from operating activities in the third quarter of 2026, compared with $201 million in the third quarter of 2025. source

Impact estimates