C. H. ROBINSON WORLDWIDE, INC.CHRW
C. H. ROBINSON WORLDWIDE, INC. Segments Disclosure
SEGMENT REPORTING
Our segments are based on our method of internal reporting, which generally segregates the segments by service line and the primary services they provide to our customers. The internal reporting of segments is aligned with the reporting and review process used by our chief operating decision maker (“CODM”), our Chief Executive Officer. The accounting policies of our reportable segments are the same as those described in the summary of significant accounting policies. We do not report our intersegment revenues by segment to our CODM and do not believe they are a meaningful metric for evaluating the performance of our reportable segments.
Our CODM utilizes segment operating income as the primary measure to evaluate the performance of our reportable segments. Operating income is an important measure of our ability to optimize our cost structure through innovation of our proprietary operating systems and accelerating the capabilities of our workforce. It also guides the allocation of resources, including employees, technology investments, and capital resource investments to each segment. Additionally, operating income is also an important measure of our ability to maintain pricing discipline and driving profitable growth while effectively serving our customers and contract carriers. We consider operating income to be our primary performance metric. The review of segment performance and the allocation of resources occurs primarily in the annual budgeting process and through a regular cadence of operating reviews to monitor the progress of strategic initiatives included in our enterprise balanced scorecard.
We identify two reportable segments with all other segments included in “All Other and Corporate” as follows:
•North American Surface Transportation: NAST provides freight transportation services across North America through a network of offices in the United States, Canada, and Mexico. The primary services provided by NAST are truckload and less than truckload (“LTL”) transportation services.
•Global Forwarding: Global Forwarding provides global logistics services through an international network of offices in North America, Asia, Europe, Oceania, South America, and the Middle East and also contracts with independent agents worldwide. The primary services provided by Global Forwarding include ocean freight services, air freight services, and customs brokerage.
•All Other and Corporate: All Other and Corporate includes our Robinson Fresh and Managed Solutions segments, as well as Other Surface Transportation outside of North America and other miscellaneous revenues and unallocated corporate expenses. Robinson Fresh provides sourcing services including the buying; selling; and/or marketing of fresh fruits, vegetables, and other value-added perishable items. Managed Solutions provides Transportation Management Services, or Managed TMS. Other Surface Transportation revenues were primarily earned by our Europe Surface Transportation segment which was sold effective February 1, 2025. Europe Surface Transportation provided transportation and logistics services including truckload and LTL transportation services across Europe. Refer to Note 15, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business.
Reportable segment information is as follows (dollars in thousands):
Twelve Months Ended December 31, 2025 | |||||||||||||||||
| NAST | Global Forwarding | Total | |||||||||||||||
| Revenues from external customers | $ | 11,562,714 | $ | 3,090,018 | $ | 14,652,732 | |||||||||||
Other revenues from external customers (1) | 1,580,031 | ||||||||||||||||
Total consolidated revenues | 16,232,763 | ||||||||||||||||
Less significant segment expenses: | |||||||||||||||||
Purchased transportation and related services (2) | 9,856,385 | 2,348,097 | |||||||||||||||
Personnel expenses (2) | 643,979 | 349,955 | |||||||||||||||
Other selling, general, and administrative expenses (2) | 440,514 | 208,183 | |||||||||||||||
| Segment operating income | 621,836 | 183,783 | 805,619 | ||||||||||||||
Other operating income (loss)(1) | (10,658) | ||||||||||||||||
Total consolidated operating income | 794,961 | ||||||||||||||||
Interest and other income/expenses, net | (72,504) | ||||||||||||||||
Income before provision for income taxes | $ | 722,457 | |||||||||||||||
Twelve Months Ended December 31, 2024 | |||||||||||||||||
| NAST | Global Forwarding | Total | |||||||||||||||
| Revenues from external customers | $ | 11,727,539 | $ | 3,805,018 | $ | 15,532,557 | |||||||||||
Other revenues from external customers (1) | 2,192,399 | ||||||||||||||||
Total consolidated revenues | 17,724,956 | ||||||||||||||||
Less significant segment expenses: | |||||||||||||||||
Purchased transportation and related services (2) | 10,086,344 | 3,002,469 | |||||||||||||||
Personnel expenses (2) | 669,611 | 371,576 | |||||||||||||||
Other selling, general, and administrative expenses (2) | 440,292 | 218,497 | |||||||||||||||
| Segment operating income | 531,292 | 212,476 | 743,768 | ||||||||||||||
Other operating income (loss)(1) | (74,627) | ||||||||||||||||
Total consolidated operating income | 669,141 | ||||||||||||||||
Interest and other income/expenses, net | (89,937) | ||||||||||||||||
Income before provision for income taxes | $ | 579,204 | |||||||||||||||
Twelve Months Ended December 31, 2023 | |||||||||||||||||
| NAST | Global Forwarding | Total | |||||||||||||||
| Revenues from external customers | $ | 12,471,075 | $ | 2,997,704 | $ | 15,468,779 | |||||||||||
Other revenues from external customers (1) | 2,127,664 | ||||||||||||||||
Total consolidated revenues | 17,596,443 | ||||||||||||||||
Less significant segment expenses: | |||||||||||||||||
Purchased transportation and related services (2) | 10,877,221 | 2,308,339 | |||||||||||||||
Personnel expenses (2) | 662,037 | 366,464 | |||||||||||||||
Other selling, general, and administrative expenses (2) | 471,857 | 237,071 | |||||||||||||||
| Segment operating income | 459,960 | 85,830 | 545,790 | ||||||||||||||
Other operating income (loss)(1) | (31,183) | ||||||||||||||||
Total consolidated operating income | 514,607 | ||||||||||||||||
Interest and other income/expenses, net | (105,421) | ||||||||||||||||
Income before provision for income taxes | $ | 409,186 | |||||||||||||||
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(1) Other revenues from external customers and operating income (loss) are attributable to our Robinson Fresh and Managed Solutions segments, as well as Other Surface Transportation outside of North America and other miscellaneous revenues and unallocated corporate expenses.
(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
Additional segment disclosures as of, and for the years ended, December 31, 2025, 2024, and 2023, is as follows (dollars in thousands):
| NAST | Global Forwarding | All Other and Corporate | Consolidated | ||||||||||||||||||||
| December 31, 2025 | |||||||||||||||||||||||
| Depreciation and amortization | $ | 19,354 | $ | 9,087 | $ | 74,377 | $ | 102,818 | |||||||||||||||
Total assets(1) | 2,853,372 | 1,142,015 | 1,062,994 | 5,058,381 | |||||||||||||||||||
| Average employee headcount | 5,158 | 4,284 | 3,291 | 12,733 | |||||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Depreciation and amortization | $ | 20,670 | $ | 10,602 | $ | 65,888 | $ | 97,160 | |||||||||||||||
Total assets(1) | 2,874,701 | 1,335,178 | 1,088,047 | 5,297,926 | |||||||||||||||||||
| Average employee headcount | 5,696 | 4,678 | 4,012 | 14,386 | |||||||||||||||||||
| December 31, 2023 | |||||||||||||||||||||||
| Depreciation and amortization | $ | 23,027 | $ | 19,325 | $ | 56,633 | $ | 98,985 | |||||||||||||||
Total assets(1) | 3,008,459 | 1,094,895 | 1,121,926 | 5,225,280 | |||||||||||||||||||
| Average employee headcount | 6,469 | 5,222 | 4,350 | 16,041 | |||||||||||||||||||
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(1) All cash and cash equivalents and certain owned properties are included in All Other and Corporate.
The following table presents our total revenues (based on location of the customer) and long-lived assets (including other intangible assets and other assets) by geographic regions (in thousands):
| For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Total revenues | |||||||||||||||||
| U.S. | $ | 14,339,494 | $ | 14,872,311 | $ | 14,795,659 | |||||||||||
| Other locations | 1,893,269 | 2,852,645 | 2,800,784 | ||||||||||||||
| Total revenues | $ | 16,232,763 | $ | 17,724,956 | $ | 17,596,443 | |||||||||||
| As of December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Long-lived assets | |||||||||||||||||
| U.S. | $ | 593,629 | $ | 678,900 | $ | 728,538 | |||||||||||
| Other locations | 208,233 | 220,458 | 142,448 | ||||||||||||||
| Total long-lived assets | $ | 801,862 | $ | 899,358 | $ | 870,986 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Mar 1, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.