1. EARNINGS RELEASE
By: Expeditors International of Washington, Inc.
1015 Third Avenue, Suite 1200
Seattle, Washington 98104
CONTACT: R. Jordan Gates
Chief Financial Officer
(206) 674-3427 FOR IMMEDIATE RELEASE
EXPEDITORS ANNOUNCES RECORD EARNINGS; EARNINGS INCREASE 44%
SEATTLE, WASHINGTON – November 7, 2000, Expeditors International of Washington, Inc. (NASDAQ:EXPD) today
announced record quarterly net earnings of $25,642,000 for the third quarter of 2000, compared with $17,839,000 for the
same quarter of 1999, an increase of 44%. Net revenues for the third quarter of 2000 increased 26% to $151,325,000 as
compared with $119,719,000 reported for the third quarter of 1999. Total revenues and operating income were
$475,363,000 and $39,667,000 in 2000 compared with $406,139,000 and $28,397,000 for the same quarter of 1999,
increases of 17% and 40%, respectively. Diluted net earnings per share for the third quarter were $.47 as compared with
$.33 for the same quarter in 1999, an increase of 42%. The company also reported that same store net revenues and
operating income increased 25% and 39%, respectively, for the third quarter of 2000 when compared with 1999.
For the nine months ended September 30, 2000, net earnings rose to $57,097,000 from $40,589,000 in 1999, an increase of
41%. Net revenues for the nine months increased to $394,911,000 from $318,362,000 for 1999, up 24%. Total revenues
and operating income for the nine months were $1,228,903,000 and $88,306,000 in 2000 compared with $1,021,832,000
and $63,812,000 for the same period in 1999, increases of 20% and 38%, respectively. Diluted net earnings per share for
the first three quarters of 2000 were $1.05 as compared with $.75 for the same period of 1999, an increase of 40%. Same
store net revenues and operating income increased 23% and 38%, respectively, for the nine months ended September 30,
2000, when compared with the same period of 1999.
“We are obviously pleased with these results, and more importantly, with how we achieved them, ” commented Peter J.
Rose, Chairman and Chief Executive Officer. “Our employees, and we now have over seven thousand professionals
working with us, gave 110%, just as they always have. When it comes to generating profitable growth, they have proven
that ‘bottom-up buy-in’ from individuals who directly benefit from their sustained efforts will outperform those subjected
to “top-down” directives spewing from the remote command center. We really have nothing more to sell than the
collective efforts of our employees and our culture recognizes this fact.”
“We are further delighted that those who failed to believe – and you know who you are - were caught just a little short
following our mid-October pre-release of these record results. We don’t model our business after anyone else and we
don’t believe that it is possible to understand us by looking elsewhere. For those who evaluate us based upon our historical
achievements --and we know who you are-- we will continue to work hard to meet the test. We also want to thank our
customers who continue to place confidence in each one of our 160 excellent offices – and we all know where they are –
centered throughout the globe,” Rose concluded.
Expeditors is a global logistics company. Headquartered in Seattle, Washington, the company employs trained
professionals in 160 offices and 11 international service centers located on six continents linked into a seamless worldwide
network through an integrated information management system. Services include air and ocean freight forwarding, vendor
consolidation, customs clearance, marine insurance, distribution and other value added international logistics services.

2. Expeditors International of Washington, Inc.
3rd Quarter 2000 Earnings Release
November 7, 2000
Expeditors International of Washington, Inc.
Financial Highlights
Three months and Nine months ended
September 30, 2000 and 1999
Unaudited
(in 000's of US dollars except share data)
Three months ended Nine months ended
September 30 September 30
% %
Inc. Inc.
2000 1999 2000 1999
Revenues $475,363 $406,139 17% $1,228,903 $1,021,832 20%
Net revenues $151,325 $119,719 26% $394,911 $318,362 24%
Operating income $39,667 $28,397 40% $88,306 $63,812 38%
Net earnings $25,642 $17,839 44% $57,097 $40,589 41%
Diluted earnings
per share $.47 $.33 42% $1.05 $.75 40%
Basic earnings
per share $.50 $.35 43% $1.12 $.81 38%
Diluted weighted
average shares
outstanding
54,844,898 54,095,025 54,613,677 53,761,888
Basic weighted
average shares 51,396,972 50,381,950 51,059,861 50,014,832
outstanding
Note to investing public: Please see attached statement of Policy Regarding Public Disclosure of
Corporate Information.
New Offices Opened in the 3rd Quarter of 2000
Asia Europe North America
Saipan, Mariana Islands Bordeaux, France Kansas City, MO
Savannah, GA
Washington, D.C.

3. Expeditors International of Washington, Inc.
1015 Third Avenue, Suite 1200
Seattle, Washington 98104
POLICY REGARDING PUBLIC DISCLOSURE OF CORPORATE INFORMATION
As a result of the October 23, 2000 effective date for SEC Regulation FD, Expeditors is taking this opportunity
to announce a formal policy regarding public disclosure of corporate information. Expeditors has consistently
refused to comment on the financial projections of individual stock analysts and has always avoided selectively
giving information to current or potential shareholders. Effective with the press release for third quarter 2000
earnings issued with this policy statement, Expeditors will handle requests for corporate information as follows:
All requests for corporate information concerning Expeditors' operations must be submitted in writing. This
policy applies equally to securities analysts, current shareholders and potential shareholders. Requests can be
made by mail or courier to Expeditors International of Washington, Inc., 1015 Third Avenue, Suite 1200,
Seattle, Washington 98104 Attention: Chief Financial Officer, by faxing the request to 206-674-3459, or by
email to investor@expeditors.com.
Written responses to selected inquiries will be released to the public by a posting on the internet at
www.investor.expeditors.com and by simultaneous filing with the SEC under Item 9 on Form 8-K. Except in
the case of inquiries following the quarterly earnings press release, the selected responses, if any, will become
available before the market opens on the first business day after the 15th of the month. Selected answers to
inquiries directed at quarterly financial performance received by the close of the first full business day after the
press release is issued will become available within the following forty-eight hours.
Any other analyst or investor contacts, whether by telephone or in person, will be conducted with the
understanding that questions directed at ongoing operations will not be discussed. Management will limit
responses to discussions of previously disclosed information, including informational discussions directed to the
history and operating philosophy of the company and an understanding of the global logistics industry and its
competitive environment.
Expeditors will, of course, make public disclosures at other times as required by law or commercial necessity.
The company reserves the right to report any non-written contact when the intent appears to be to obtain
selective disclosure in violation of this policy and the spirit of regulation FD.

4. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share data)
September 30, December 31,
2000 1999
Assets
(Unaudited)
Current assets:
Cash and cash equivalents $142,998 $71,183
Short-term investments 230 1,171
Accounts receivable, net 364,879 314,789
Deferred Federal and state income taxes - -
Other current assets 17,435 15,566
Total current assets 525,542 402,709
Property and equipment, net 103,941 105,905
Deferred Federal and state income taxes 8,614 5,584
Other assets 22,737 21,263
$660,834 $535,461
Liabilities and Shareholders' Equity
Current liabilities:
Short-term borrowings 4,524 19,442
Accounts payable 249,384 184,805
Income taxes payable 18,084 11,081
Deferred Federal and state income taxes 7,466 3,232
Other current liabilities 41,508 34,516
Total current liabilities $320,966 $253,076
Shareholders' equity:
Preferred stock, par value $.01 per share.
Authorized 2,000,000 shares; none issued -- --
Common stock, par value $.01 per share.
Authorized 160,000,000 shares; issued
and outstanding 51,420,571 shares at
September 30, 2000 and 50,644,407
shares at December 31, 1999 514 507
Additional paid-in capital 37,921 29,729
Retained earnings 310,712 257,198
Accumulated other comprehensive loss (9,279) (5,049)
Total shareholders' equity 339,868 282,385
$660,834 $535,461
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
Note: All 1999 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 1, 1999.
07-Nov-2000 Expeditors International of Washington, Inc. Page 4 of 7

5. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(In thousands, except share data)
(Unaudited)
Three months ended Nine monthes ended
September 30, September 30,
2000 1999 2000 1999
Revenues:
Airfreight $277,658 $248,215 $722,311 $637,521
Ocean freight and ocean services 142,818 111,365 355,032 260,672
Customs brokerage and import services 54,887 46,559 151,560 123,639
Total revenues 475,363 406,139 1,228,903 1,021,832
Operating expenses:
Airfreight consolidation 215,798 200,846 564,386 507,280
Ocean freight consolidation 108,240 85,574 269,606 196,190
Salaries and related costs 77,431 64,019 213,115 176,025
Rent 4,722 4,560 14,030 13,238
Depreciation and amortization 5,620 5,359 16,758 15,232
Selling and promotion 5,026 4,399 14,401 12,244
Other 18,859 12,985 48,301 37,811
Total operating expenses 435,696 377,742 1,140,597 958,020
Operating income 39,667 28,397 88,306 63,812
Interest expense (164) (326) (276) (733)
Interest income 1,819 488 3,939 1,623
Other, net (56) (17) (280) 240
Other income, net 1,599 145 3,383 1,130
Earnings before income taxes 41,266 28,542 91,689 64,942
Income tax expense 15,624 10,703 34,592 24,353
Net earnings $25,642 $17,839 $57,097 $40,589
Diluted earnings per share $0.47 $0.33 $1.05 $0.75
Basic earnings per share $0.50 $0.35 $1.12 $0.81
Diluted weighted average shares outstanding 54,844,898 54,095,025 54,613,677 53,761,888
Basic weighted average shares outstanding 51,396,972 50,381,950 51,059,861 50,014,832
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
Note: All 1999 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 1, 1999.
07-Nov-2000 Expeditors International of Washington, Inc. Page 5 of 7

6. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
2000 1999 2000 1999
Operating Activities:
Net earnings $25,642 $17,839 $57,097 $40,589
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Provision for losses on
accounts receivable 1,888 400 2,714 1,539
Deferred income tax expense (benefit) 1,087 (788) 3,632 (1,176)
Tax benefits from employee stock plans 925 1,691 7,740 9,150
Depreciation and amortization 5,620 5,359 16,758 15,232
Other 130 121 621 515
Changes in operating assets and liabilities:
Increase in accounts receivable (59,015) (48,166) (50,315) (78,219)
Increase (decrease) in other current assets 2,769 5,080 (2,282) (6,405)
Increase in accounts payable and other
current liabilities 41,561 31,709 76,187 49,766
Net cash provided by operating activities 20,607 13,245 112,152 30,991
Investing Activities:
Decrease (increase) in short-term investments 2 (963) 935 (746)
Purchase of property and equipment (5,756) (5,955) (17,095) (18,628)
Other (12) (1,840) (1,666) (5,130)
Net cash used in investing activities (5,766) (8,758) (17,826) (24,504)
Financing Activities:
Short-term borrowings, net 2,014 (15,545) (14,738) 4,543
Proceeds from issuance of common
stock 6,095 4,758 9,700 7,892
Repurchases of common stock (5,740) (308) (9,241) (3,587)
Dividends paid - - (3,583) (2,503)
Net cash provided (used) by financing
activities 2,369 (11,095) (17,862) 6,345
Effect of exchange rate changes on cash (2,815) 318 (4,649) (1,655)
Increase (decrease) in cash and cash equivalents 14,395 (6,290) 71,815 11,177
Cash and cash equivalents at beginning
of period 128,603 66,896 71,183 49,429
Cash and cash equivalents at end
of period $ 142,998 $ 60,606 $ 142,998 $ 60,606
Interest and taxes paid:
Interest 9 324 166 701
Income tax 3,464 3,251 15,412 17,236
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
07-Nov-2000 Expeditors International of Washington, Inc. Page 6 of 7

7. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES
Business Segment Information
(In thousands)
(Unaudited)
United Other Far Australia/ Latin Middle Elimi- Consoli-
States N. America East Europe New Zealand America East nations dated
Three months ended
September 30, 2000
Revenues from unaffiliated
customers $ 113,263 9,436 272,906 55,324 3,758 3,667 17,009 475,363
Transfers between
geographic areas $ 6,813 344 998 2,408 831 674 758 (12,826) -
Total revenues $ 120,076 9,780 273,904 57,732 4,589 4,341 17,767 (12,826) 475,363
Net revenues $ 65,138 6,538 42,229 26,825 2,880 2,232 5,483 151,325
Operating income $ 9,927 1,088 19,568 6,616 566 443 1,459 39,667
Identifiable assets
at quarter end $ 337,122 22,483 139,799 104,978 9,540 9,388 19,596 17,928 660,834
Capital expenditures $ 2,896 557 845 684 115 234 425 5,756
Depreciation and amortization $ 3,081 292 961 801 143 88 254 5,620
Equity $ 339,868 4,094 105,011 27,237 6,447 757 5,279 (148,825) 339,868
Three months ended
September 30, 1999
Revenues from unaffiliated
customers $ 91,296 6,175 242,252 46,931 3,546 2,155 13,784 406,139
Transfers between
geographic areas $ 5,352 309 859 1,947 876 549 626 (10,518) -
Total revenues $ 96,648 6,484 243,111 48,878 4,422 2,704 14,410 (10,518) 406,139
Net revenues $ 54,691 4,503 28,058 24,030 2,933 1,299 4,205 119,719
Operating income $ 9,434 671 11,385 5,354 608 123 822 28,397
Identifiable assets
at quarter end $ 277,390 17,155 94,804 93,175 9,518 5,625 14,927 16,984 529,578
Capital expenditures $ 2,986 361 613 848 219 84 844 5,955
Depreciation and amortization $ 2,946 154 914 843 158 66 278 5,359
Equity $ 267,397 2,467 70,875 22,798 6,095 (365) 2,608 (104,478) 267,397
Nine months ended
September 30, 2000
Revenues from unaffiliated
customers $ 315,385 24,015 668,687 151,743 10,416 10,274 48,383 1,228,903
Transfers between
geographic areas $ 16,681 890 2,802 6,714 2,375 1,950 2,286 (33,698) -
Total revenues $ 332,066 24,905 671,489 158,457 12,791 12,224 50,669 (33,698) 1,228,903
Net revenues $ 177,181 17,560 96,353 74,726 8,435 5,847 14,809 394,911
Operating income $ 23,121 2,207 40,113 16,639 1,743 1,092 3,391 88,306
Identifiable assets
at quarter end $ 337,122 22,483 139,799 104,978 9,540 9,388 19,596 17,928 660,834
Capital expenditures $ 8,704 1,437 2,761 2,493 368 476 856 17,095
Depreciation and amortization $ 9,344 815 2,749 2,404 413 235 798 16,758
Equity $ 339,868 4,094 105,011 27,237 6,447 757 5,279 (148,825) 339,868
Nine months ended
September 30, 1999
Revenues from unaffiliated
customers $ 256,085 17,012 575,834 124,970 9,254 5,092 33,585 1,021,832
Transfers between
geographic areas $ 13,033 725 2,449 5,230 2,332 1,382 1,304 (26,455) -
Total revenues $ 269,118 17,737 578,283 130,200 11,586 6,474 34,889 (26,455) 1,021,832
Net revenues $ 147,317 12,248 72,234 64,514 7,907 3,445 10,697 318,362
Operating income $ 19,599 1,745 26,233 12,908 1,489 230 1,608 63,812
Identifiable assets
at quarter end $ 277,390 17,155 94,804 93,175 9,518 5,625 14,927 16,984 529,578
Capital expenditures $ 10,068 1,024 2,120 2,753 482 246 1,935 18,628
Depreciation and amortization $ 8,452 442 2,496 2,429 457 182 774 15,232
Equity $ 267,397 2,467 70,875 22,798 6,095 (365) 2,608 (104,478) 267,397
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
07-Nov-2000 Expeditors International of Washington, Inc. Page 7 of 7