Landstar System (LSTR) 10-K 19 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 26, 2015	Jan. 22, 2016	Jun. 26, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 26, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	LSTR
Entity Registrant Name	LANDSTAR SYSTEM INC
Entity Central Index Key	853,816
Current Fiscal Year End Date	--12-26
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,419,537
Entity Public Float			$ 2,905,285,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Current Assets
Cash and cash equivalents	$ 114,520	$ 163,944
Short-term investments	48,823	37,007
Trade accounts receivable, less allowance of $4,327 and $4,338	462,699	492,642
Other receivables, including advances to independent contractors, less allowance of $4,143 and $4,189	18,472	15,132
Deferred income taxes and other current assets	18,156	23,603
Total current assets	662,670	732,328
Operating property, less accumulated depreciation and amortization of $182,591 and $160,681	225,927	202,203
Goodwill	31,134	31,134
Other assets	78,339	78,547
Total assets	998,070	1,044,212
Current Liabilities
Cash overdraft	35,609	34,629
Accounts payable	223,709	220,077
Current maturities of long-term debt	42,499	35,064
Insurance claims	19,757	24,233
Dividends payable		44,794
Other current liabilities	47,963	51,654
Total current liabilities	369,537	410,451
Long-term debt, excluding current maturities	81,793	76,257
Insurance claims	21,477	21,769
Deferred income taxes and other noncurrent liabilities	59,026	47,474
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,391,616 and 67,268,817 shares	674	673
Additional paid-in capital	195,841	189,012
Retained earnings	1,389,975	1,255,374
Cost of 24,972,079 and 22,474,331 shares of common stock in treasury	(1,116,765)	(955,613)
Accumulated other comprehensive loss	(3,488)	(1,185)
Total shareholders' equity	466,237	488,261
Total liabilities and shareholders' equity	$ 998,070	$ 1,044,212

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Allowance on trade accounts receivable	$ 4,327	$ 4,338
Allowance on other receivables	4,143	4,189
Accumulated depreciation and amortization on operating property	$ 182,591	$ 160,681
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	67,391,616	67,268,817
Treasury stock, shares	24,972,079	22,474,331

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Revenue	$ 3,321,091	$ 3,184,790	$ 2,664,780
Investment income	1,396	1,381	1,475
Costs and expenses:
Purchased transportation	2,551,343	2,461,143	2,046,927
Commissions to agents	270,260	250,780	211,355
Other operating costs, net of gains on asset sales/dispositions	31,618	25,771	21,568
Insurance and claims	48,754	46,280	50,438
Selling, general and administrative	149,704	150,250	131,710
Depreciation and amortization	29,102	27,575	27,667
Total costs and expenses	3,080,781	2,961,799	2,489,665
Operating income	241,706	224,372	176,590
Interest and debt expense	2,949	3,177	3,211
Income from continuing operations before income taxes	238,757	221,195	173,379
Income taxes	91,068	82,386	64,457
Income from continuing operations	147,689	138,809	108,922
Discontinued operations:
Income from discontinued operations, net of income taxes			4,058
Gain on sale of discontinued operations, net of income taxes			33,029
Income from discontinued operations, net of income taxes			37,087
Net income	$ 147,689	$ 138,809	$ 146,009
Earnings per common share:
Income from continuing operations	$ 3.38	$ 3.09	$ 2.37
Income from discontinued operations			0.81
Earnings per common share	3.38	3.09	3.17
Diluted earnings per share:
Income from continuing operations	3.37	3.07	2.36
Income from discontinued operations			0.80
Diluted earnings per share	$ 3.37	$ 3.07	$ 3.16
Average number of shares outstanding:
Earnings per common share	43,664,000	44,956,000	46,039,000
Diluted earnings per share	43,813,000	45,169,000	46,210,000
Dividends per common share	$ 0.30	$ 1.26	$ 0.35

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Net income	$ 147,689	$ 138,809	$ 146,009
Other comprehensive loss:
Unrealized holding losses on available-for-sale investments, net of tax benefit of $109, $76 and $365	(199)	(139)	(664)
Foreign currency translation losses	(2,104)	(1,034)	(718)
Other comprehensive loss	(2,303)	(1,173)	(1,382)
Comprehensive income	$ 145,386	$ 137,636	$ 144,627

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Unrealized holding losses on available-for-sale investments, tax benefit	$ (109)	$ (76)	$ (365)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
OPERATING ACTIVITIES OF CONTINUING OPERATIONS
Net income	$ 147,689	$ 138,809	$ 146,009
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations:
Discontinued operations			(37,087)
Depreciation and amortization of operating property	29,102	27,575	27,667
Non-cash interest charges	218	218	219
Provisions for losses on trade and other accounts receivable	5,890	5,315	3,755
Gains on sales/disposals of operating property	(216)	(2,143)	(3,352)
Deferred income taxes, net	6,792	5,434	4,700
Stock-based compensation	6,925	6,797	4,911
Changes in operating assets and liabilities, net of discontinued operations:
Decrease (increase) in trade and other accounts receivable	20,713	(60,454)	(28,584)
Increase in other assets	(1,177)	(9,046)	(1,214)
Increase in accounts payable	3,632	62,281	8,881
Increase (decrease) in other liabilities	1,222	(2,468)	(3,308)
(Decrease) increase in insurance claims	(4,768)	(70,449)	30,048
NET CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS	216,022	101,869	152,645
INVESTING ACTIVITIES OF CONTINUING OPERATIONS
Sales and maturities of investments	38,684	34,701	38,777
Purchases of investments	(44,238)	(36,473)	(50,613)
Purchases of operating property	(4,804)	(10,539)	(6,373)
Proceeds from sales of operating property	1,685	7,465	9,711
Proceeds from sale of discontinued operations			74,505
NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES OF CONTINUING OPERATIONS	(8,673)	(4,846)	66,007
FINANCING ACTIVITIES OF CONTINUING OPERATIONS
Increase in cash overdraft	980	6,849	2,617
Dividends paid	(57,882)	(27,606)
Proceeds from exercises of stock options	1,459	3,760	2,323
Taxes paid in lieu of shares issued related to stock-based compensation plans	(2,225)	(4,041)	(1,766)
Excess tax benefits from stock-based awards	671	2,500	349
Purchases of common stock	(161,152)	(56,393)	(59,496)
Principal payments on long-term debt and capital lease obligations	(36,520)	(37,416)	(61,774)
NET CASH USED BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS	(254,669)	(112,347)	(117,747)
Cash flows from discontinued operations:
Operating activities of discontinued operations			9,368
Investing activities of discontinued operations			(168)
Financing activities of discontinued operations			(3,369)
Net cash provided by discontinued operations			5,831
Effect of exchange rate changes on cash and cash equivalents	(2,104)	(1,034)	(718)
(Decrease) increase in cash and cash equivalents	(49,424)	(16,358)	106,018
Cash and cash equivalents at beginning of period	163,944	180,302	74,284
Cash and cash equivalents at end of period	$ 114,520	$ 163,944	$ 180,302

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock at Cost	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 29, 2012		66,859,864			20,411,736
Beginning Balance at Dec. 29, 2012	$ 379,454	$ 669	$ 173,976	$ 1,042,956	$ (839,517)	$ 1,370
Net income	146,009			146,009
Dividends	(15,921)			(15,921)
Purchases of common stock (in shares)					1,116,673
Purchases of common stock	(59,496)				$ (59,496)
Issuance of stock related to stock-based compensation plans, including excess tax effect (in shares)		157,994			284
Issuance of stock related to stock-based compensation plans, including excess tax effect	906	$ 1	920		$ (15)
Stock-based compensation	4,911		4,911
Other comprehensive loss	(1,382)					(1,382)
Ending Balance (in shares) at Dec. 28, 2013		67,017,858			21,528,693
Ending Balance at Dec. 28, 2013	454,481	$ 670	179,807	1,173,044	$ (899,028)	(12)
Net income	138,809			138,809
Dividends	(56,479)			(56,479)
Purchases of common stock (in shares)					939,872
Purchases of common stock	(56,393)				$ (56,393)
Issuance of stock related to stock-based compensation plans, including excess tax effect (in shares)		250,959			5,766
Issuance of stock related to stock-based compensation plans, including excess tax effect	2,219	$ 3	2,408		$ (192)
Stock-based compensation	6,797		6,797
Other comprehensive loss	(1,173)					(1,173)
Ending Balance (in shares) at Dec. 27, 2014		67,268,817			22,474,331
Ending Balance at Dec. 27, 2014	488,261	$ 673	189,012	1,255,374	$ (955,613)	(1,185)
Net income	147,689			147,689
Dividends	(13,088)			(13,088)
Purchases of common stock (in shares)					2,497,748
Purchases of common stock	(161,152)				$ (161,152)
Issuance of stock related to stock-based compensation plans, including excess tax effect (in shares)		122,799
Issuance of stock related to stock-based compensation plans, including excess tax effect	(95)	$ 1	(96)
Stock-based compensation	6,925		6,925
Other comprehensive loss	(2,303)					(2,303)
Ending Balance (in shares) at Dec. 26, 2015		67,391,616			24,972,079
Ending Balance at Dec. 26, 2015	$ 466,237	$ 674	$ 195,841	$ 1,389,975	$ (1,116,765)	$ (3,488)

Consolidated Statements of Cha9

Consolidated Statements of Changes in Shareholders Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Dividends per common share	$ 0.30	$ 1.26	$ 0.35

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 26, 2015
Significant Accounting Policies	(1) Significant Accounting Policies Consolidation The consolidated financial statements include the accounts of Landstar System, Inc. and its subsidiary, Landstar System Holdings, Inc. (“LSHI”). Landstar System, Inc. and its subsidiary are herein referred to as “Landstar” or the “Company.” Significant inter-company accounts have been eliminated in consolidation. On December 28, 2013, the Company completed the sale of Landstar Supply Chain Solutions, Inc., a Delaware corporation, including its wholly owned subsidiary, Landstar Supply Chain Solutions LLC (collectively, “LSCS”), which was part of the Company’s transportation logistics segment, to XPO Logistics, Inc. (“XPO”). The gain on the sale of LSCS and the operating results of LSCS for fiscal year 2013 have been reclassified in the consolidated financial statements to discontinued operations. Estimates The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates. Fiscal Year Landstar’s fiscal year is the 52 or 53 week period ending the last Saturday in December. Revenue Recognition When providing the physical transportation of freight, the Company is the primary obligor with respect to freight delivery and assumes the related credit risk. Accordingly, transportation revenue billed to customers for the physical transportation of freight and the related direct freight expenses are recognized on a gross basis upon completion of freight delivery. Reinsurance premiums of the insurance segment are recognized over the period earned, which is usually on a monthly basis. Fuel surcharges billed to customers for freight hauled by independent contractors who provide truck capacity to the Company under exclusive lease arrangements (the “BCO Independent Contractors”) are excluded from revenue and paid in entirety to the BCO Independent Contractors. Insurance Claim Costs Landstar provides, primarily on an actuarially determined basis, for the estimated costs of cargo, property, casualty, general liability and workers’ compensation claims both reported and for claims incurred but not reported. Landstar retains liability for individual commercial trucking claims up to $5,000,000 per occurrence. The Company also retains liability of up to $1,000,000 for each general liability claim, up to $250,000 for each workers’ compensation claim and up to $250,000 for each cargo claim. Tires Tires purchased as part of trailing equipment are capitalized as part of the cost of the equipment. Replacement tires are charged to expense when placed in service. Cash and Cash Equivalents Included in cash and cash equivalents are all investments, except those provided for collateral, with an original maturity of 3 months or less. Financial Instruments The Company’s financial instruments include cash equivalents, short and long-term investments, trade and other accounts receivable, accounts payable, other accrued liabilities, current and non-current insurance claims and long-term debt plus current maturities (“Debt”). The carrying value of cash equivalents, trade and other accounts receivable, accounts payable, current insurance claims and other accrued liabilities approximate fair value as the assets and liabilities are short term in nature. Short and long-term investments are carried at fair value as further described in the “Investments” footnote below. The carrying value of non-current insurance claims approximate fair value as the Company generally has the ability to, but is not required to, settle claims in a short term. The Company’s Debt includes borrowings under the Company’s revolving credit facility, to the extent there are any, plus borrowings relating to capital lease obligations used to finance trailing equipment. The interest rates on borrowings under the revolving credit facility are typically tied to short-term LIBOR rates that adjust monthly and, as such, carrying value approximates fair value. Interest rates on borrowings under capital leases approximate the interest rates that would currently be available to the Company under similar terms and, as such, carrying value approximates fair value. Trade and Other Receivables The allowance for doubtful accounts for both trade and other receivables represents management’s estimate of the amount of outstanding receivables that will not be collected. Estimates are used to determine the allowance for doubtful accounts for both trade and other receivables and are generally based on specific identification, historical collection results, current economic trends and changes in payment trends. Following is a summary of the activity in the allowance for doubtful accounts for fiscal years ending December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Balance at Beginning of Period Charged to Costs and Expenses Write-offs, Net of Recoveries Balance at End of Period For the Fiscal Year Ended December 26, 2015 Trade receivables $ 4,338 $ 3,985 $ (3,996 ) $ 4,327 Other receivables 5,103 1,897 (1,445 ) 5,555 Other non-current receivables 230 8 — 238 $ 9,671 $ 5,890 $ (5,441 ) $ 10,120 For the Fiscal Year Ended December 27, 2014 Trade receivables $ 3,773 $ 2,893 $ (2,328 ) $ 4,338 Other receivables 4,994 2,414 (2,305 ) 5,103 Other non-current receivables 222 8 — 230 $ 8,989 $ 5,315 $ (4,633 ) $ 9,671 For the Fiscal Year Ended December 28, 2013 Trade receivables $ 8,650 $ 1,801 $ (6,678 ) $ 3,773 Other receivables 5,612 1,929 (2,547 ) 4,994 Other non-current receivables 239 6 (23 ) 222 $ 14,501 $ 3,736 $ (9,248 ) $ 8,989 Operating Property Operating property is recorded at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the related assets. Buildings and improvements are being depreciated over 30 years. Trailing equipment is being depreciated over 7 to 10 years. Information technology hardware and software included in other equipment is generally being depreciated over 3 to 7 years. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the net assets of acquired businesses. The Company has one reporting unit within the transportation logistics segment that reports goodwill. The Company reviews its goodwill balance annually for impairment as a single reporting unit, unless circumstances dictate more frequent assessments, and in accordance with Accounting Standards Update (“ASU”) 2011-08, Testing Goodwill for Impairment Income Taxes Income tax expense is equal to the current year’s liability for income taxes and a provision for deferred income taxes. Deferred tax assets and liabilities are recorded for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. Share-Based Payments The Company’s share-based payment arrangements include restricted stock units (“RSU”), non-vested restricted stock and stock options. The Company estimates the fair value of stock option awards on the date of grant using the Black-Scholes pricing model and recognizes compensation cost for stock option awards expected to vest on a straight-line basis over the requisite service period for the entire award. Forfeitures are estimated at grant date based on historical experience and anticipated employee turnover. The fair value of each share of non-vested restricted stock is based on the fair value of such share on the date of grant and compensation costs for non-vested restricted stock are recognized on a straight-line basis over the requisite service period for the award. The fair value of an RSU with a performance condition is determined based on the market value of the Company’s Common Stock on the date of grant, discounted for lack of marketability for a minimum post-vesting holding requirement. With respect to RSU awards with a performance condition, the Company reports compensation expense over the life of the award based on an estimated number of units that will vest over the life of the award, multiplied by the fair value of an RSU. The fair value of an RSU with a market condition is determined at the time of grant based on the expected achievement of the market condition at the end of each vesting period. With respect to RSU awards with a market condition, the Company recognizes compensation expense ratably over the requisite service period under an award based on the fair market value of the award at the time of grant, regardless of whether the market condition is satisfied. Previously recognized compensation cost would be reversed, however, if the employee terminated employment prior to completing such requisite service period. Earnings Per Share Earnings per common share are based on the weighted average number of shares outstanding, including outstanding non-vested restricted stock. Diluted earnings per share are based on the weighted average number of common shares outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options. The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share (in thousands): Fiscal Years 2015 2014 2013 Average number of common shares outstanding 43,664 44,956 46,039 Incremental shares from assumed exercises of stock options 149 213 171 Average number of common shares and common share equivalents outstanding 43,813 45,169 46,210 For the fiscal years ended December 26, 2015 and December 27, 2014, no options outstanding to purchase shares of Common Stock were antidilutive. For the fiscal year ended December 28, 2013, there were 143,000 options outstanding to purchase shares of Common Stock excluded from the calculation of diluted earnings per share because they were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share for all periods because the performance metric requirements or market condition for vesting had not been satisfied. Dividends Payable On December 4, 2014, the Company announced that its Board of Directors declared a special cash dividend of $1.00 per share payable on January 26, 2015, to stockholders of record of its Common Stock as of January 12, 2015. Dividends payable of $44,794,000 related to this special dividend were included in current liabilities in the consolidated balance sheet at December 27, 2014. Foreign Currency Translation Assets and liabilities of the Company’s Canadian operation are translated from their functional currency to U.S. dollars using exchange rates in effect at the balance sheet date and revenue and expense accounts are translated at average monthly exchange rates during the period. Adjustments resulting from the translation process are included in accumulated other comprehensive income. Transactional gains and losses arising from receivable and payable balances, including intercompany balances, in the normal course of business that are denominated in a currency other than the functional currency of the operation are recorded in the statements of income when they occur.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 26, 2015
Discontinued Operations	(2) Discontinued Operations On December 28, 2013, the Company completed the sale of Landstar Supply Chain Solutions, Inc., a Delaware corporation, including its wholly owned subsidiary, Landstar Supply Chain Solutions LLC (collectively, “LSCS”), which was part of the Company’s transportation logistics segment, to XPO Logistics, Inc. (“XPO”). XPO paid a purchase price of $87.0 million in cash as consideration for LSCS. The net assets of LSCS acquired by XPO were $32.5 million. Direct transaction costs related to the transaction, primarily legal and other professional fees and payments made to certain executives of LSCS in connection with the transaction, were approximately $2.4 million. Net of income taxes of $19.1 million, the sale resulted in a gain on the sale of discontinued operations of $33.0 million, or $0.71 per diluted share in fiscal year 2013. There were no interest costs or corporate overhead expenses allocated in the gain calculation. The gain on the sale of LSCS and the operating results of LSCS for fiscal year 2013 have been reclassified in the consolidated financial statements to discontinued operations. The following table summarizes specific financial components of discontinued operations presented in the consolidated statement of income for the fiscal year ended December 28, 2013 (in thousands): Fiscal Year Revenue $ 21,173 Income from discontinued operations before income taxes $ 6,673 Gain on sale of discontinued operations before income taxes 52,174 Income/gain from discontinued operations before income taxes 58,847 Income taxes on income from discontinued operations (2,615 ) Income taxes on gain on sale of discontinued operations (19,145 ) Income from discontinued operations, net of income taxes $ 37,087

Other Comprehensive Income

Other Comprehensive Income	12 Months Ended
	Dec. 26, 2015
Other Comprehensive Income	(3) Other Comprehensive Income The following table presents the components of and changes in accumulated other comprehensive income, net of related income taxes, as of and for the fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Unrealized Available-for-Sale Foreign Currency Total Balance as of December 29, 2012 $ 908 $ 462 $ 1,370 Other comprehensive loss (664 ) (718 ) (1,382 ) Balance as of December 28, 2013 244 (256 ) (12 ) Other comprehensive loss (139 ) (1,034 ) (1,173 ) Balance as of December 27, 2014 105 (1,290 ) (1,185 ) Other comprehensive loss (199 ) (2,104 ) (2,303 ) Balance as of December 26, 2015 $ (94 ) $ (3,394 ) $ (3,488 ) Amounts reclassified from accumulated other comprehensive income to investment income due to the realization of previously unrealized gains and losses in the accompanying consolidated statements of income were not significant for the fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013.

Investments

Investments	12 Months Ended
	Dec. 26, 2015
Investments	(4) Investments Investments include primarily investment-grade corporate bonds and U.S. Treasury obligations having maturities of up to five years (the “bond portfolio”). Investments in the bond portfolio are reported as available-for-sale and are carried at fair value. Investments maturing less than one year from the balance sheet date are included in short-term investments and investments maturing more than one year from the balance sheet date are included in other assets in the consolidated balance sheets. Management performs an analysis of the nature of the unrealized losses on available-for-sale investments to determine whether such losses are other-than-temporary. Unrealized losses, representing the excess of the purchase price of an investment over its fair value as of the end of a period, considered to be other-than-temporary, are to be included as a charge in the statement of income, while unrealized losses considered to be temporary are to be included as a component of shareholders’ equity. Investments whose values are based on quoted market prices in active markets are classified within Level 1. Investments that trade in markets that are not considered to be active, but are valued based on quoted market prices, are classified within Level 2. As Level 2 investments include positions that are not traded in active markets, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information. Any transfers between levels are recognized as of the beginning of any reporting period. Fair value of the bond portfolio was determined using Level 1 inputs related to U.S. Treasury obligations and money market investments and Level 2 inputs related to investment-grade corporate bonds, asset-backed securities and direct obligations of government agencies. Unrealized losses, net of unrealized gains, on the investments in the bond portfolio were $145,000 at December 26, 2015, while unrealized gains, net of unrealized losses, in the bond portfolio were $163,000 at December 27, 2014. The amortized cost and fair values of available-for-sale investments are as follows at December 26, 2015 and December 27, 2014 (in thousands): Amortized Gross Gross Fair Value December 26, 2015 Money market investments $ 7,594 $ — $ — $ 7,594 Asset-backed securities 4,523 1 58 4,466 Corporate bonds and direct obligations of 76,839 190 270 76,759 U.S. Treasury obligations 19,273 5 13 19,265 Total $ 108,229 $ 196 $ 341 $ 108,084 December 27, 2014 Money market investments $ 1,729 $ — $ — $ 1,729 Asset-backed securities 5,106 1 50 5,057 Corporate bonds and direct obligations of government agencies 76,964 491 284 77,171 U.S. Treasury obligations 19,507 14 9 19,512 Total $ 103,306 $ 506 $ 343 $ 103,469 For those available-for-sale investments with unrealized losses at December 26, 2015 and December 27, 2014, the following table summarizes the duration of the unrealized loss (in thousands): Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 26, 2015 Asset-backed securities $ 4,422 $ 58 $ — $ — $ 4,422 $ 58 Corporate bonds and direct obligations of government agencies 39,276 217 562 53 39,838 270 U.S. Treasury obligations 15,093 13 — — 15,093 13 Total $ 58,791 $ 288 $ 562 $ 53 $ 59,353 $ 341 December 27, 2014 Asset-backed securities $ 2,006 $ 13 $ 2,447 $ 37 $ 4,453 $ 50 Corporate bonds and direct obligations of government agencies 19,354 135 11,373 149 30,727 284 U.S. Treasury obligations 6,992 1 760 8 7,752 9 Total $ 28,352 $ 149 $ 14,580 $ 194 $ 42,932 $ 343 The Company believes that unrealized losses on investments were primarily caused by rising interest rates rather than change in credit quality. The Company expects to recover the amortized cost basis of these securities as it does not intend to sell, and does not anticipate being required to sell, these securities before recovery of the cost basis. For these reasons, the Company does not consider the unrealized losses on these securities to be other-than-temporary at December 26, 2015. Short-term investments include $48,823,000 in current maturities of investments held by the Company at December 26, 2015. The non-current portion of the bond portfolio of $59,261,000 is included in other assets. The short-term investments, together with $15,188,000 of non-current investments, provide collateral for the $57,610,000 of letters of credit issued to guarantee payment of insurance claims. Investment income represents the earnings on the insurance segment’s assets. Investment income earned from the assets of the insurance segment are included as a component of operating income as the investment of these assets is critical to providing collateral, liquidity and earnings with respect to the operation of the Company’s insurance programs.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 26, 2015
Income Taxes	(5) Income Taxes The provisions for income taxes consisted of the following (in thousands): Fiscal Years 2015 2014 2013 Current: Federal $ 74,289 $ 68,722 $ 53,089 State 9,550 7,031 4,643 Canadian 437 1,199 683 Total current $ 84,276 $ 76,952 $ 58,415 Deferred: Federal $ 6,524 $ 5,234 $ 5,758 State 268 200 284 Total deferred $ 6,792 $ 5,434 $ 6,042 Income taxes $ 91,068 $ 82,386 $ 64,457 Temporary differences and carryforwards which gave rise to deferred tax assets and liabilities consisted of the following (in thousands): Dec. 26, Dec. 27, Deferred tax assets: Receivable valuations $ 3,832 $ 3,623 Share-based payments 2,894 2,939 Self-insured claims 4,132 5,353 Other 3,836 3,616 Total deferred tax assets $ 14,694 $ 15,531 Deferred tax liabilities: Operating property $ 52,547 $ 46,745 Goodwill 5,877 5,619 Other 2,087 2,192 Total deferred tax liabilities $ 60,511 $ 54,556 Net deferred tax liability $ 45,817 $ 39,025 Income from discontinued operations included a deferred tax benefit of $1,342,000 in 2013. The following table summarizes the differences between income taxes calculated at the federal income tax rate of 35% on income from continuing operations before income taxes and the provisions for income taxes (in thousands): Fiscal Years 2015 2014 2013 Income taxes at federal income tax rate $ 83,565 $ 77,418 $ 60,683 State income taxes, net of federal income tax benefit 7,201 4,532 3,260 Meals and entertainment exclusion 946 777 919 Share-based payments (61 ) (239 ) 184 Other, net (583 ) (102 ) (589 ) Income taxes $ 91,068 $ 82,386 $ 64,457 The Company files a consolidated U.S. federal income tax return. The Company or its subsidiaries file state tax returns in the majority of the U.S. state tax jurisdictions. With few exceptions, the Company and its subsidiaries are no longer subject to U.S. federal or state income tax examinations by tax authorities for 2011 and prior years. The Company’s wholly owned Canadian subsidiary, Landstar Canada, Inc., is subject to Canadian income and other taxes. As of December 26, 2015 and December 27, 2014, the Company had $1,899,000 and $1,836,000, respectively, of net unrecognized tax benefits representing the provision for the uncertainty of certain tax positions plus a component of interest and penalties. Estimated interest and penalties on the provision for the uncertainty of certain tax positions is included in income tax expense. At December 26, 2015 and December 27, 2014 there was $727,000 and $744,000, respectively, accrued for estimated interest and penalties related to the uncertainty of certain tax positions. The Company does not currently anticipate any significant increase or decrease to the unrecognized tax benefit during fiscal year 2016. The following table summarizes the rollforward of the total amounts of gross unrecognized tax benefits for fiscal years 2015 and 2014 (in thousands): Fiscal Years 2015 2014 Gross unrecognized tax benefits — beginning of the year $ 2,620 $ 2,261 Gross increases related to current year tax positions 482 373 Gross increases related to prior year tax positions 340 310 Gross decreases related to prior year tax positions (195 ) (109 ) Settlements — (34 ) Lapse of statute of limitations (543 ) (181 ) Gross unrecognized tax benefits — end of the year $ 2,704 $ 2,620 Landstar paid income taxes of $74,619,000 in fiscal year 2015, $98,506,000 in fiscal year 2014 and $64,255,000 in fiscal year 2013.

Operating Property

Operating Property	12 Months Ended
	Dec. 26, 2015
Operating Property	(6) Operating Property Operating property is summarized as follows (in thousands): Dec. 26, Dec. 27, Land $ 9,148 $ 9,148 Buildings and improvements 39,532 38,790 Trailing equipment 311,449 267,685 Other equipment 48,389 47,261 Total operating property, gross 408,518 362,884 Less accumulated depreciation and amortization 182,591 160,681 Total operating property, net $ 225,927 $ 202,203 Included above is $222,428,000 in 2015 and $188,311,000 in 2014 of operating property under capital leases, $164,501,000 and $143,311,000, respectively, net of accumulated depreciation and amortization. Landstar acquired operating property by entering into capital leases in the amount of $49,491,000 in fiscal year 2015, $47,232,000 in fiscal year 2014 and $49,138,000 in fiscal year 2013.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 26, 2015
Retirement Plan	(7) Retirement Plan Landstar sponsors an Internal Revenue Code section 401(k) defined contribution plan for the benefit of full-time employees who have completed one year of service. Eligible employees make voluntary contributions up to 75% of their base salary, subject to certain limitations. Landstar contributes an amount equal to 100% of the first 3% and 50% of the next 2% of such contributions, subject to certain limitations. The expense from continuing operations for the Company-sponsored defined contribution plan included in selling, general and administrative expense was $1,901,000 in fiscal year 2015, $1,718,000 in fiscal year 2014 and $1,693,000 in fiscal year 2013.

Debt

Debt	12 Months Ended
	Dec. 26, 2015
Debt	(8) Debt Other than the capital lease obligations as presented on the consolidated balance sheets, the Company had no outstanding debt as of December 26, 2015 and December 27, 2014. On June 29, 2012, Landstar entered into a credit agreement with a syndicate of banks and JPMorgan Chase Bank, N.A., as administrative agent (the “Credit Agreement”). The Credit Agreement, which matures on June 29, 2017, provides $225,000,000 of borrowing capacity in the form of a revolving credit facility, $75,000,000 of which may be utilized in the form of letter of credit guarantees. Borrowings under the Credit Agreement are unsecured, however, all but two of the Company’s subsidiaries guarantee the obligations under the Credit Agreement. Any future amounts that may become outstanding under the Credit Agreement are payable on June 29, 2017, the maturity date of the Credit Agreement. Depending upon the specific type of borrowing, borrowings under the Credit Agreement bear interest based on either (a) the prime rate, (b) the federal funds effective rate, (c) the rate at the time offered to JPMorgan Chase Bank, N.A. in the Eurodollar market or (d) the London Interbank Offered Rate, plus a margin that is determined based on the level of the Company’s Leverage Ratio, as defined in the Credit Agreement. The unused portion of the revolving credit facility under the Credit Agreement carries a commitment fee determined based on the level of the Leverage Ratio. The commitment fee for the unused portion of the revolving credit facility under the Credit Agreement ranges from .15% to .35%, based on achieving certain levels of the Leverage Ratio. As of December 26, 2015 and December 27, 2014, the Company had no borrowings outstanding under the Credit Agreement. The Credit Agreement contains a number of covenants that limit, among other things, the incurrence of additional indebtedness. The Company is required to, among other things, maintain a minimum Fixed Charge Coverage Ratio, as defined in the Credit Agreement, and maintain a Leverage Ratio, as defined in the Credit Agreement, below a specified maximum. The Credit Agreement provides for a restriction on cash dividends and other distributions to stockholders on the Company’s capital stock to the extent there is a default under the Credit Agreement. In addition, the Credit Agreement under certain circumstances limits the amount of such cash dividends and other distributions to stockholders to the extent that, after giving effect to any payment made to effect such cash dividend or other distribution, the Leverage Ratio would exceed 2.5 to 1 on a pro forma basis as of the end of the Company’s most recently completed fiscal quarter. The Credit Agreement provides for an event of default in the event that, among other things, a person or group acquires 25% or more of the outstanding capital stock of the Company or obtains power to elect a majority of the Company’s directors. None of these covenants are presently considered by management to be materially restrictive to the Company’s operations, capital resources or liquidity. The Company is currently in compliance with all of the debt covenants under the Credit Agreement. The interest rates on borrowings under the revolving credit facility are typically tied to short-term LIBOR rates that adjust monthly and, as such, carrying value approximates fair value. Interest rates on borrowings under capital leases approximate the interest rates that would currently be available to the Company under similar terms and, as such, carrying value approximates fair value. Landstar paid interest of $3,012,000 in fiscal year 2015, $3,229,000 in fiscal year 2014 and $3,175,000 in fiscal year 2013.

Leases

Leases	12 Months Ended
	Dec. 26, 2015
Leases	(9) Leases The future minimum lease payments under all noncancelable leases at December 26, 2015, principally for trailing equipment, are shown in the following table (in thousands): Capital Leases Operating Leases 2016 $ 44,912 $ 907 2017 34,740 278 2018 24,610 138 2019 16,352 68 2020 8,964 — Total future minimum lease payments 129,578 $ 1,391 Less amount representing interest (2.0% to 2.8%) 5,286 Present value of minimum lease payments $ 124,292 Total rent expense/income from continuing operations, net of sublease income, was $318,000 expense in fiscal year 2015, $587,000 income in fiscal year 2014 and $1,238,000 income in fiscal year 2013.

Share-Based Payment Arrangement

Share-Based Payment Arrangements	12 Months Ended
	Dec. 26, 2015
Share-Based Payment Arrangements	(10) Share-Based Payment Arrangements As of December 26, 2015, the Company had two employee equity incentive plans, the 2002 employee stock option and stock incentive plan (the “ESOSIP”) and the 2011 equity incentive plan (the “2011 EIP”). No further grants can be made under the ESOSIP. The Company also has a stock compensation plan for members of its Board of Directors, the 2013 Directors Stock Compensation Plan (the “2013 DSCP”). 6,000,000 shares of the Company’s Common Stock were authorized for issuance under the 2011 EIP and 115,000 shares of the Company’s Common Stock were authorized for issuance under the 2013 DSCP. The ESOSIP, 2011 EIP and 2013 DSCP are each referred to herein as a “Plan,” and, collectively, as the “Plans.” Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands): Fiscal Years 2015 2014 2013 Total cost of the Plans during the period $ 6,925 $ 6,797 $ 4,911 Amount of related income tax benefit recognized during the period (2,432 ) (3,171 ) (1,305 ) Net cost of the Plans during the period $ 4,493 $ 3,626 $ 3,606 Included in income tax benefits recognized in the fiscal years ended December 26, 2015 and December 27, 2014 were income tax benefits of $383,000 and $659,000, respectively, recognized on disqualifying dispositions of the Company’s Common Stock by employees who obtained shares of Common Stock through exercises of incentive stock options. As of December 26, 2015, there were 94,334 shares of the Company’s Common Stock reserved for issuance under the 2013 DSCP and 5,490,114 shares of the Company’s Common Stock reserved for issuance in the aggregate under the ESOSIP and 2011 EIP. Restricted Stock Units The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards under the Plans: Number of Weighted Average Grant Date Outstanding at December 29, 2012 113,000 $ 44.78 Granted 244,500 $ 51.19 Vested (21,901 ) $ 44.78 Forfeited (27,592 ) $ 47.45 Outstanding at December 28, 2013 308,007 $ 49.63 Granted 146,000 $ 53.11 Vested (24,641 ) $ 51.47 Forfeited (3,736 ) $ 49.53 Outstanding at December 27, 2014 425,630 $ 50.72 Granted 111,922 $ 53.30 Vested (91,382 ) $ 51.98 Forfeited (2,013 ) $ 52.81 Outstanding at December 26, 2015 444,157 $ 51.10 During fiscal years 2013 and 2014, the Company issued RSUs with a performance condition. During fiscal year 2015, the Company issued RSUs with a performance condition and RSUs with a market condition, as further described below. RSUs with a performance condition vest over a 3 to 5 year period generally based on varying metrics of growth in operating income and diluted earnings per share either from a base year, being the year immediately preceding the year of grant, or year-over-prior-year growth. At the time of grant, the maximum number of common shares available for issuance under the January 27, 2015 grant equals 200% of the number of RSUs granted. The maximum number of common shares available for issuance under grants made prior to 2015 equals 100% of the number of RSUs granted. The fair value of an RSU with a performance condition was determined based on the market value of the Company’s Common Stock on the date of grant, discounted for lack of marketability for a minimum post-vesting holding requirement. The discount rate due to lack of marketability used for RSU award grants with a performance condition for all periods was 7%. With respect to RSU awards with a performance condition, the Company reports compensation expense over the life of the award based on an estimated number of units that will vest over the life of the award, multiplied by the fair value of an RSU. On May 1, 2015, the Company granted 20,000 RSUs that vest based on a market condition. These RSUs may vest on April 30 of 2019, 2020 and 2021 based on the Company’s total shareholder return (“TSR”) compound annual growth rate over the vesting periods, adjusted to reflect dividends (if any) paid during such periods and capital adjustments as may be necessary. The maximum number of common shares available for issuance under the May 1, 2015 grant equals 150% of the number of RSUs granted. The fair value of this RSU award was determined at the time of grant based on the expected achievement of the market condition at the end of each vesting period. With respect to these RSU awards with a market condition, compensation expense is recognized ratably over the requisite service period under an award based on the fair market value of the award at the time of grant, regardless of whether the market condition is satisfied. Previously recognized compensation cost would be reversed, however, if the employee terminated employment prior to completing such requisite service period. The Company recognized approximately $4,943,000, $4,443,000 and $1,276,000 of share-based compensation expense related to RSU awards in fiscal years 2015, 2014 and 2013, respectively. As of December 26, 2015, there was a maximum of $23.4 million of total unrecognized compensation cost related to RSU awards granted under the Plans with an expected average remaining life of approximately 2.8 years. With respect to RSU awards with a performance condition, the amount of future compensation expense to be recognized will be determined based on future operating results. Stock Options Options granted under the Plans generally become exercisable in either five equal annual installments commencing on the first anniversary of the date of grant or 100% on the fifth anniversary from the date of grant, subject to acceleration in certain circumstances. All options granted under the Plans expire on the tenth anniversary of the date of grant. Under the Plans, the exercise price of each option equals the fair market value of the Company’s Common Stock on the date of grant. The fair value of each option grant on its grant date was calculated using the Black-Scholes option pricing model with the following weighted average assumptions for grants made in fiscal years 2014 and 2013: 2014 2013 Expected volatility 26.0 % 32.0 % Expected dividend yield 0.43 % 0.41 % Risk-free interest rate 1.50 % 0.75 % Expected lives (in years) 4.0 4.0 The Company utilizes historical data, including exercise patterns and employee departure behavior, in estimating the term that options will be outstanding. Expected volatility was based on historical volatility and other factors, such as expected changes in volatility arising from planned changes to the Company’s business, if any. The risk-free interest rate was based on the yield of zero coupon U.S. Treasury bonds for terms that approximated the terms of the options granted. The weighted average grant date fair value of stock options granted during fiscal years 2014 and 2013 was $12.70 per share and $14.21 per share, respectively. The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Options Outstanding Options Exercisable Number of Options Weighted Average Exercise Price per Share Number of Options Weighted Average Exercise Price per Share Options at December 29, 2012 1,781,182 $ 42.56 661,865 $ 40.64 Granted 152,500 $ 56.40 Exercised (421,066 ) $ 40.52 Forfeited (57,800 ) $ 43.90 Options at December 28, 2013 1,454,816 $ 44.55 693,516 $ 42.29 Granted 1,000 $ 58.06 Exercised (615,077 ) $ 41.27 Forfeited (66,900 ) $ 47.51 Options at December 27, 2014 773,839 $ 46.92 379,389 $ 44.61 Exercised (133,518 ) $ 45.25 Forfeited (3,100 ) $ 52.91 Options at December 26, 2015 637,221 $ 47.24 415,121 $ 45.12 The following tables summarize stock options outstanding and exercisable at December 26, 2015: Options Outstanding Range of Exercise Prices Per Share Number Outstanding Weighted Average Remaining Contractual Term (years) Weighted Average Exercise Price per Share $35.64 - $ 83,612 3.6 $ 37.04 $40.01 - $ 215,803 3.9 $ 42.12 $45.01 - $ 337,806 6.1 $ 53.04 637,221 5.0 $ 47.24 Options Exercisable Range of Exercise Prices Per Share Number Exercisable Weighted Average Remaining Contractual Term (years) Weighted Average Exercise Price per Share $35.64 - $ 83,612 3.6 $ 37.04 $40.01 - $ 169,103 3.6 $ 42.23 $45.01 - $ 162,406 5.7 $ 52.28 415,121 4.4 $ 45.12 At December 26, 2015, the total intrinsic value of options outstanding was $6,932,000. At December 26, 2015, the total intrinsic value of options outstanding and exercisable was $5,398,000. The total intrinsic value of stock options exercised during fiscal years 2015, 2014 and 2013 was $2,954,000, $14,573,000 and $6,095,000, respectively. As of December 26, 2015, there was $1,401,000 of total unrecognized compensation cost related to non-vested stock options granted under the Plans. The unrecognized compensation cost related to these non-vested options is expected to be recognized over a weighted average period of 1.5 years. Non-vested Restricted Stock The 2011 EIP provides the Compensation Committee of the Board of Directors with the authority to issue shares of Common Stock of the Company, subject to certain vesting and other restrictions on transfer (“restricted stock”). The following table summarizes information regarding the Company’s outstanding non-vested restricted stock under the Plans: Number of Weighted Average Grant Date Outstanding at December 29, 2012 34,719 $ 42.75 Granted 15,449 $ 54.85 Vested (11,975 ) $ 45.61 Outstanding at December 28, 2013 38,193 $ 46.75 Granted 7,124 $ 63.17 Vested (19,196 ) $ 41.85 Forfeited (2,768 ) $ 54.20 Outstanding at December 27, 2014 23,353 $ 54.90 Granted 1,197 $ 62.46 Vested (6,490 ) $ 57.79 Outstanding at December 26, 2015 18,060 $ 54.36 The fair value of each share of non-vested restricted stock issued under the Plans is based on the fair value of a share of the Company’s Common Stock on the date of grant. Shares of non-vested restricted stock are generally subject to vesting in three equal annual installments or 100% on the fifth anniversary of the date of grant. The shares of restricted stock remain subject to forfeiture unless the grantee remains continuously employed with the Company or a subsidiary thereof through the applicable vesting date. As of December 26, 2015, there was $391,000 of total unrecognized compensation cost related to non-vested shares of restricted stock granted under the Plans. The unrecognized compensation cost related to these non-vested shares of restricted stock is expected to be recognized over a weighted average period of 1 year. Directors’ Stock Compensation Plan Upon election or re-election to the Board of Directors for a three year term, outside members of the Board of Directors may receive a grant of such number of restricted shares of the Company’s Common Stock equal to the quotient of $225,000 divided by the fair market value of a share of Common Stock on the date immediately following the date of such Director’s re-election or election to the Board. In fiscal years 2015, 2014 and 2013, 1,197, 7,124 and 13,449 restricted shares, respectively, were granted to outside Directors upon their re-election or election to the Board. Restricted shares generally vest in three equal annual installments on the first three annual anniversary dates of the date of grant. During fiscal years 2015, 2014 and 2013, $419,000, $331,000 and $442,000, respectively, of compensation cost was recorded for the grant of these restricted shares.

Equity

Equity	12 Months Ended
	Dec. 26, 2015
Equity	(11) Equity On May 19, 2015, the Landstar System, Inc. Board of Directors authorized the Company to increase the number of shares of the Company’s Common Stock that the Company is authorized to purchase from time to time in the open market and in privately negotiated transactions under a previously announced purchase program to 3,000,000 shares. As of December 26, 2015, the Company has authorization to purchase 1,809,406 shares of its Common Stock under this program. No specific expiration date has been assigned to the May 19, 2015 authorization. During fiscal year 2015, Landstar purchased a total of 2,497,748 shares of its Common Stock at a total cost of $161,152,000 pursuant to its previously announced stock purchase program. The Company has 2,000,000 shares of preferred stock authorized and unissued.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 26, 2015
Commitments and Contingencies	(12) Commitments and Contingencies At December 26, 2015, in addition to the $57,610,000 letters of credit secured by investments, Landstar had $32,757,000 of letters of credit outstanding under the Credit Agreement. The Company is involved in certain claims and pending litigation arising from the normal conduct of business. Many of these claims are covered in whole or in part by insurance. Based on knowledge of the facts and, in certain cases, opinions of outside counsel, management believes that adequate provisions have been made for probable losses with respect to the resolution of all such claims and pending litigation and that the ultimate outcome, after provisions therefor, will not have a material adverse effect on the financial condition of the Company, but could have a material effect on the results of operations in a given quarter or year.

Segment Information

Segment Information	12 Months Ended
	Dec. 26, 2015
Segment Information	(13) Segment Information Landstar markets its integrated transportation management solutions primarily through independent commission sales agents and exclusively utilizes third party capacity providers to transport and store customers’ freight. Landstar’s independent commission sales agents enter into contractual arrangements with the Company and are responsible for locating freight, making that freight available to Landstar’s capacity providers and coordinating the transportation of the freight with customers and capacity providers. The Company’s third party capacity providers consist of independent contractors who provide truck capacity to the Company under exclusive lease arrangements (the “BCO Independent Contractors”), unrelated trucking companies who provide truck capacity to the Company under non-exclusive contractual arrangements (the “Truck Brokerage Carriers”), air cargo carriers, ocean cargo carriers and railroads. Through this network of agents and capacity providers linked together by Landstar’s information technology systems, Landstar operates an integrated transportation management solutions business primarily throughout North America with revenue of $3.3 billion during the most recently completed fiscal year. The Company reports the results of two operating segments: the transportation logistics segment and the insurance segment. The transportation logistics segment provides a wide range of integrated transportation management solutions. Transportation services offered by the Company include truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, project cargo and customs brokerage. Industries serviced by the transportation logistics segment include automotive products, building products, metals, chemicals, foodstuffs, heavy machinery, retail, electronics, ammunition and explosives and military equipment. In addition, the transportation logistics segment provides transportation services to other transportation companies, including third party logistics and less-than-truckload service providers. Each of the independent commission sales agents has the opportunity to market all of the services provided by the transportation logistics segment. Billings for freight transportation services are typically charged to customers on a per shipment basis for the physical transportation of freight. The insurance segment is comprised of Signature Insurance Company (“Signature”), a wholly owned offshore insurance subsidiary, and Risk Management Claim Services, Inc. The insurance segment provides risk and claims management services to certain of Landstar’s operating subsidiaries. In addition, it reinsures certain risks of the Company’s BCO Independent Contractors and provides certain property and casualty insurance directly to certain of Landstar’s operating subsidiaries. Revenue at the insurance segment represents reinsurance premiums from third party insurance companies that provide insurance programs to BCO Independent Contractors where all or a portion of the risk is ultimately borne by Signature. Internal revenue for premiums billed by the insurance segment to the transportation logistics segment is calculated each fiscal period based primarily on an actuarial calculation of historical loss experience and is believed to approximate the cost that would have been incurred by the transportation logistics segment had similar insurance been obtained from an unrelated third party. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates a segment’s performance based on operating income. No single customer accounted for more than 10% of the Company’s consolidated revenue in fiscal years 2015, 2014 or 2013. Substantially all of the Company’s revenue is generated in North America, primarily through customers located in the United States. The following tables summarize information about the Company’s reportable business segments as of and for the fiscal years ending December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Transportation Insurance Total 2015 External revenue $ 3,276,677 $ 44,414 $ 3,321,091 Internal revenue 31,342 31,342 Investment income 1,396 1,396 Interest and debt expense 2,949 2,949 Depreciation and amortization 29,102 29,102 Operating income 207,883 33,823 241,706 Expenditures on long-lived assets 4,804 4,804 Goodwill 31,134 31,134 Capital lease additions 49,491 49,491 Total assets 849,102 148,968 998,070 2014 External revenue $ 3,145,413 $ 39,377 $ 3,184,790 Internal revenue 28,164 28,164 Investment income 1,381 1,381 Interest and debt expense 3,177 3,177 Depreciation and amortization 27,575 27,575 Operating income 193,914 30,458 224,372 Expenditures on long-lived assets 10,539 10,539 Goodwill 31,134 31,134 Capital lease additions 47,232 47,232 Total assets 917,789 126,423 1,044,212 2013 External revenue from continuing operations $ 2,628,225 $ 36,555 $ 2,664,780 Internal revenue 28,811 28,811 Investment income 1,475 1,475 Interest and debt expense from continuing operations 3,211 3,211 Depreciation and amortization from continuing operations 27,667 27,667 Operating income from continuing operations 151,188 25,402 176,590 Expenditures on long-lived assets from continuing operations 6,373 6,373 Goodwill 31,134 31,134 Capital lease additions 49,138 49,138 Total assets 754,904 215,792 970,696

Change in Accounting Estimate f

Change in Accounting Estimate for Self-Insured Claims	12 Months Ended
	Dec. 26, 2015
Change in Accounting Estimate for Self-Insured Claims	(14) Change in Accounting Estimate for Self-Insured Claims Landstar provides for the estimated costs of self-insured claims primarily on an actuarial basis. The amount recorded for the estimated liability for claims incurred is based upon the facts and circumstances known on the applicable balance sheet date. The ultimate resolution of these claims may be for an amount greater or less than the amount estimated by management. The Company continually revises its existing claim estimates as new or revised information becomes available on the status of each claim. Historically, the Company has experienced both favorable and unfavorable development of prior years’ claims estimates. The following table summarizes the effect of the increase in the cost of insurance claims resulting from unfavorable development of prior year self-insured claims estimates on operating income, income from continuing operations and earnings per share from continuing operations in the consolidated statements of income for the fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands, except per share amounts): Fiscal Years Ended December 26, 2015 December 27, 2014 December 28, 2013 Operating income $ 4,852 $ 6,664 $ 10,909 Income from continuing operations 2,999 4,118 6,742 Earnings per share from continuing operations $ 0.07 $ 0.09 $ 0.15 Diluted earnings per share from continuing operations $ 0.07 $ 0.09 $ 0.15

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 26, 2015
Recent Accounting Pronouncements	(15) Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 —Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 is a comprehensive revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. On July 9, 2015, the FASB approved deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The FASB also approved permitting early adoption of the standard, but not before the original effective date of December 15, 2016. ASU 2014-09 is not expected to have a material impact on the Company’s financial statements. In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-17

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
	Dec. 26, 2015
Quarterly Financial Data	LANDSTAR SYSTEM, INC. AND SUBSIDIARY QUARTERLY FINANCIAL DATA (Dollars in thousands, except per share amounts) (Unaudited) Fourth Quarter 2015 Third Quarter 2015 Second Quarter 2015 First Quarter 2015 Revenue $ 848,602 $ 841,726 $ 868,383 $ 762,380 Operating income $ 62,648 $ 63,980 $ 66,033 $ 49,045 Income before income taxes $ 61,907 $ 63,266 $ 65,320 $ 48,264 Income taxes 24,052 23,918 24,849 18,249 Net income $ 37,855 $ 39,348 $ 40,471 $ 30,015 Earnings per common share(1) $ 0.89 $ 0.91 $ 0.92 $ 0.67 Diluted earnings per share(1) $ 0.88 $ 0.90 $ 0.92 $ 0.67 Dividends per common share $ 0.08 $ 0.08 $ 0.07 $ 0.07 Fourth Quarter 2014 Third Quarter 2014 Second Quarter 2014 First Quarter 2014 Revenue $ 862,830 $ 819,320 $ 814,443 $ 688,197 Operating income $ 61,209 $ 59,577 $ 58,572 $ 45,014 Income before income taxes $ 60,292 $ 58,803 $ 57,854 $ 44,246 Income taxes 21,801 22,048 21,929 16,608 Net income $ 38,491 $ 36,755 $ 35,925 $ 27,638 Earnings per common share(1) $ 0.86 $ 0.82 $ 0.80 $ 0.61 Diluted earnings per share(1) $ 0.86 $ 0.82 $ 0.80 $ 0.61 Dividends per common share $ 1.07 $ 0.07 $ 0.06 $ 0.06 (1) Due to the changes in the number of average common shares and common stock equivalents outstanding during the year, the sum of earnings per share amounts for each quarter do not necessarily sum in the aggregate to the earnings per share amounts for the full year.

Significant Accounting Polici26

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 26, 2015
Consolidation	Consolidation The consolidated financial statements include the accounts of Landstar System, Inc. and its subsidiary, Landstar System Holdings, Inc. (“LSHI”). Landstar System, Inc. and its subsidiary are herein referred to as “Landstar” or the “Company.” Significant inter-company accounts have been eliminated in consolidation. On December 28, 2013, the Company completed the sale of Landstar Supply Chain Solutions, Inc., a Delaware corporation, including its wholly owned subsidiary, Landstar Supply Chain Solutions LLC (collectively, “LSCS”), which was part of the Company’s transportation logistics segment, to XPO Logistics, Inc. (“XPO”). The gain on the sale of LSCS and the operating results of LSCS for fiscal year 2013 have been reclassified in the consolidated financial statements to discontinued operations.
Estimates	Estimates The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates.
Fiscal Year	Fiscal Year Landstar’s fiscal year is the 52 or 53 week period ending the last Saturday in December.
Revenue Recognition	Revenue Recognition When providing the physical transportation of freight, the Company is the primary obligor with respect to freight delivery and assumes the related credit risk. Accordingly, transportation revenue billed to customers for the physical transportation of freight and the related direct freight expenses are recognized on a gross basis upon completion of freight delivery. Reinsurance premiums of the insurance segment are recognized over the period earned, which is usually on a monthly basis. Fuel surcharges billed to customers for freight hauled by independent contractors who provide truck capacity to the Company under exclusive lease arrangements (the “BCO Independent Contractors”) are excluded from revenue and paid in entirety to the BCO Independent Contractors.
Insurance Claim Costs	Insurance Claim Costs Landstar provides, primarily on an actuarially determined basis, for the estimated costs of cargo, property, casualty, general liability and workers’ compensation claims both reported and for claims incurred but not reported. Landstar retains liability for individual commercial trucking claims up to $5,000,000 per occurrence. The Company also retains liability of up to $1,000,000 for each general liability claim, up to $250,000 for each workers’ compensation claim and up to $250,000 for each cargo claim.
Tires	Tires Tires purchased as part of trailing equipment are capitalized as part of the cost of the equipment. Replacement tires are charged to expense when placed in service.
Cash and Cash Equivalents	Cash and Cash Equivalents Included in cash and cash equivalents are all investments, except those provided for collateral, with an original maturity of 3 months or less.
Financial Instruments	Financial Instruments The Company’s financial instruments include cash equivalents, short and long-term investments, trade and other accounts receivable, accounts payable, other accrued liabilities, current and non-current insurance claims and long-term debt plus current maturities (“Debt”). The carrying value of cash equivalents, trade and other accounts receivable, accounts payable, current insurance claims and other accrued liabilities approximate fair value as the assets and liabilities are short term in nature. Short and long-term investments are carried at fair value as further described in the “Investments” footnote below. The carrying value of non-current insurance claims approximate fair value as the Company generally has the ability to, but is not required to, settle claims in a short term. The Company’s Debt includes borrowings under the Company’s revolving credit facility, to the extent there are any, plus borrowings relating to capital lease obligations used to finance trailing equipment. The interest rates on borrowings under the revolving credit facility are typically tied to short-term LIBOR rates that adjust monthly and, as such, carrying value approximates fair value. Interest rates on borrowings under capital leases approximate the interest rates that would currently be available to the Company under similar terms and, as such, carrying value approximates fair value.
Trade and Other Receivables	Trade and Other Receivables The allowance for doubtful accounts for both trade and other receivables represents management’s estimate of the amount of outstanding receivables that will not be collected. Estimates are used to determine the allowance for doubtful accounts for both trade and other receivables and are generally based on specific identification, historical collection results, current economic trends and changes in payment trends. Following is a summary of the activity in the allowance for doubtful accounts for fiscal years ending December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Balance at Beginning of Period Charged to Costs and Expenses Write-offs, Net of Recoveries Balance at End of Period For the Fiscal Year Ended December 26, 2015 Trade receivables $ 4,338 $ 3,985 $ (3,996 ) $ 4,327 Other receivables 5,103 1,897 (1,445 ) 5,555 Other non-current receivables 230 8 — 238 $ 9,671 $ 5,890 $ (5,441 ) $ 10,120 For the Fiscal Year Ended December 27, 2014 Trade receivables $ 3,773 $ 2,893 $ (2,328 ) $ 4,338 Other receivables 4,994 2,414 (2,305 ) 5,103 Other non-current receivables 222 8 — 230 $ 8,989 $ 5,315 $ (4,633 ) $ 9,671 For the Fiscal Year Ended December 28, 2013 Trade receivables $ 8,650 $ 1,801 $ (6,678 ) $ 3,773 Other receivables 5,612 1,929 (2,547 ) 4,994 Other non-current receivables 239 6 (23 ) 222 $ 14,501 $ 3,736 $ (9,248 ) $ 8,989
Operating Property	Operating Property Operating property is recorded at cost. Depreciation is provided on a straight-line basis over the estimated useful lives of the related assets. Buildings and improvements are being depreciated over 30 years. Trailing equipment is being depreciated over 7 to 10 years. Information technology hardware and software included in other equipment is generally being depreciated over 3 to 7 years.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the net assets of acquired businesses. The Company has one reporting unit within the transportation logistics segment that reports goodwill. The Company reviews its goodwill balance annually for impairment as a single reporting unit, unless circumstances dictate more frequent assessments, and in accordance with Accounting Standards Update (“ASU”) 2011-08, Testing Goodwill for Impairment
Income Taxes	Income Taxes Income tax expense is equal to the current year’s liability for income taxes and a provision for deferred income taxes. Deferred tax assets and liabilities are recorded for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled.
Share-Based Payments	Share-Based Payments The Company’s share-based payment arrangements include restricted stock units (“RSU”), non-vested restricted stock and stock options. The Company estimates the fair value of stock option awards on the date of grant using the Black-Scholes pricing model and recognizes compensation cost for stock option awards expected to vest on a straight-line basis over the requisite service period for the entire award. Forfeitures are estimated at grant date based on historical experience and anticipated employee turnover. The fair value of each share of non-vested restricted stock is based on the fair value of such share on the date of grant and compensation costs for non-vested restricted stock are recognized on a straight-line basis over the requisite service period for the award. The fair value of an RSU with a performance condition is determined based on the market value of the Company’s Common Stock on the date of grant, discounted for lack of marketability for a minimum post-vesting holding requirement. With respect to RSU awards with a performance condition, the Company reports compensation expense over the life of the award based on an estimated number of units that will vest over the life of the award, multiplied by the fair value of an RSU. The fair value of an RSU with a market condition is determined at the time of grant based on the expected achievement of the market condition at the end of each vesting period. With respect to RSU awards with a market condition, the Company recognizes compensation expense ratably over the requisite service period under an award based on the fair market value of the award at the time of grant, regardless of whether the market condition is satisfied. Previously recognized compensation cost would be reversed, however, if the employee terminated employment prior to completing such requisite service period.
Earnings Per Share	Earnings Per Share Earnings per common share are based on the weighted average number of shares outstanding, including outstanding non-vested restricted stock. Diluted earnings per share are based on the weighted average number of common shares outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options. The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share (in thousands): Fiscal Years 2015 2014 2013 Average number of common shares outstanding 43,664 44,956 46,039 Incremental shares from assumed exercises of stock options 149 213 171 Average number of common shares and common share equivalents outstanding 43,813 45,169 46,210 For the fiscal years ended December 26, 2015 and December 27, 2014, no options outstanding to purchase shares of Common Stock were antidilutive. For the fiscal year ended December 28, 2013, there were 143,000 options outstanding to purchase shares of Common Stock excluded from the calculation of diluted earnings per share because they were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share for all periods because the performance metric requirements or market condition for vesting had not been satisfied.
Dividends Payable	Dividends Payable On December 4, 2014, the Company announced that its Board of Directors declared a special cash dividend of $1.00 per share payable on January 26, 2015, to stockholders of record of its Common Stock as of January 12, 2015. Dividends payable of $44,794,000 related to this special dividend were included in current liabilities in the consolidated balance sheet at December 27, 2014.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of the Company’s Canadian operation are translated from their functional currency to U.S. dollars using exchange rates in effect at the balance sheet date and revenue and expense accounts are translated at average monthly exchange rates during the period. Adjustments resulting from the translation process are included in accumulated other comprehensive income. Transactional gains and losses arising from receivable and payable balances, including intercompany balances, in the normal course of business that are denominated in a currency other than the functional currency of the operation are recorded in the statements of income when they occur.

Significant Accounting Polici27

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 26, 2015
Summary of Activity in Allowance for Doubtful Accounts	Following is a summary of the activity in the allowance for doubtful accounts for fiscal years ending December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Balance at Beginning of Period Charged to Costs and Expenses Write-offs, Net of Recoveries Balance at End of Period For the Fiscal Year Ended December 26, 2015 Trade receivables $ 4,338 $ 3,985 $ (3,996 ) $ 4,327 Other receivables 5,103 1,897 (1,445 ) 5,555 Other non-current receivables 230 8 — 238 $ 9,671 $ 5,890 $ (5,441 ) $ 10,120 For the Fiscal Year Ended December 27, 2014 Trade receivables $ 3,773 $ 2,893 $ (2,328 ) $ 4,338 Other receivables 4,994 2,414 (2,305 ) 5,103 Other non-current receivables 222 8 — 230 $ 8,989 $ 5,315 $ (4,633 ) $ 9,671 For the Fiscal Year Ended December 28, 2013 Trade receivables $ 8,650 $ 1,801 $ (6,678 ) $ 3,773 Other receivables 5,612 1,929 (2,547 ) 4,994 Other non-current receivables 239 6 (23 ) 222 $ 14,501 $ 3,736 $ (9,248 ) $ 8,989
Reconciliation of Average Number of Common Shares and Common Share Equivalents Outstanding	The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share (in thousands): Fiscal Years 2015 2014 2013 Average number of common shares outstanding 43,664 44,956 46,039 Incremental shares from assumed exercises of stock options 149 213 171 Average number of common shares and common share equivalents outstanding 43,813 45,169 46,210

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 26, 2015
Summary of Specific Financial Components of Discontinued Operations	The following table summarizes specific financial components of discontinued operations presented in the consolidated statement of income for the fiscal year ended December 28, 2013 (in thousands): Fiscal Year Revenue $ 21,173 Income from discontinued operations before income taxes $ 6,673 Gain on sale of discontinued operations before income taxes 52,174 Income/gain from discontinued operations before income taxes 58,847 Income taxes on income from discontinued operations (2,615 ) Income taxes on gain on sale of discontinued operations (19,145 ) Income from discontinued operations, net of income taxes $ 37,087

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 26, 2015
Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes	The following table presents the components of and changes in accumulated other comprehensive income, net of related income taxes, as of and for the fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Unrealized Available-for-Sale Foreign Currency Total Balance as of December 29, 2012 $ 908 $ 462 $ 1,370 Other comprehensive loss (664 ) (718 ) (1,382 ) Balance as of December 28, 2013 244 (256 ) (12 ) Other comprehensive loss (139 ) (1,034 ) (1,173 ) Balance as of December 27, 2014 105 (1,290 ) (1,185 ) Other comprehensive loss (199 ) (2,104 ) (2,303 ) Balance as of December 26, 2015 $ (94 ) $ (3,394 ) $ (3,488 )

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 26, 2015
Amortized Cost and Fair Value of Available for Sale Investments	The amortized cost and fair values of available-for-sale investments are as follows at December 26, 2015 and December 27, 2014 (in thousands): Amortized Gross Gross Fair Value December 26, 2015 Money market investments $ 7,594 $ — $ — $ 7,594 Asset-backed securities 4,523 1 58 4,466 Corporate bonds and direct obligations of 76,839 190 270 76,759 U.S. Treasury obligations 19,273 5 13 19,265 Total $ 108,229 $ 196 $ 341 $ 108,084 December 27, 2014 Money market investments $ 1,729 $ — $ — $ 1,729 Asset-backed securities 5,106 1 50 5,057 Corporate bonds and direct obligations of government agencies 76,964 491 284 77,171 U.S. Treasury obligations 19,507 14 9 19,512 Total $ 103,306 $ 506 $ 343 $ 103,469
Schedule of Unrealized Loss on Available for Sale Investments	For those available-for-sale investments with unrealized losses at December 26, 2015 and December 27, 2014, the following table summarizes the duration of the unrealized loss (in thousands): Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 26, 2015 Asset-backed securities $ 4,422 $ 58 $ — $ — $ 4,422 $ 58 Corporate bonds and direct obligations of government agencies 39,276 217 562 53 39,838 270 U.S. Treasury obligations 15,093 13 — — 15,093 13 Total $ 58,791 $ 288 $ 562 $ 53 $ 59,353 $ 341 December 27, 2014 Asset-backed securities $ 2,006 $ 13 $ 2,447 $ 37 $ 4,453 $ 50 Corporate bonds and direct obligations of government agencies 19,354 135 11,373 149 30,727 284 U.S. Treasury obligations 6,992 1 760 8 7,752 9 Total $ 28,352 $ 149 $ 14,580 $ 194 $ 42,932 $ 343

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 26, 2015
Schedule of Provisions for Income Taxes	The provisions for income taxes consisted of the following (in thousands): Fiscal Years 2015 2014 2013 Current: Federal $ 74,289 $ 68,722 $ 53,089 State 9,550 7,031 4,643 Canadian 437 1,199 683 Total current $ 84,276 $ 76,952 $ 58,415 Deferred: Federal $ 6,524 $ 5,234 $ 5,758 State 268 200 284 Total deferred $ 6,792 $ 5,434 $ 6,042 Income taxes $ 91,068 $ 82,386 $ 64,457
Schedule of Deferred Tax Assets and Liabilities	Temporary differences and carryforwards which gave rise to deferred tax assets and liabilities consisted of the following (in thousands): Dec. 26, Dec. 27, Deferred tax assets: Receivable valuations $ 3,832 $ 3,623 Share-based payments 2,894 2,939 Self-insured claims 4,132 5,353 Other 3,836 3,616 Total deferred tax assets $ 14,694 $ 15,531 Deferred tax liabilities: Operating property $ 52,547 $ 46,745 Goodwill 5,877 5,619 Other 2,087 2,192 Total deferred tax liabilities $ 60,511 $ 54,556 Net deferred tax liability $ 45,817 $ 39,025
Schedule of Income Taxes Calculated on Income from Continuing Operations Before Income Taxes and Provision for Income Taxes	The following table summarizes the differences between income taxes calculated at the federal income tax rate of 35% on income from continuing operations before income taxes and the provisions for income taxes (in thousands): Fiscal Years 2015 2014 2013 Income taxes at federal income tax rate $ 83,565 $ 77,418 $ 60,683 State income taxes, net of federal income tax benefit 7,201 4,532 3,260 Meals and entertainment exclusion 946 777 919 Share-based payments (61 ) (239 ) 184 Other, net (583 ) (102 ) (589 ) Income taxes $ 91,068 $ 82,386 $ 64,457
Schedule for Gross Unrecognized Tax Benefits	The following table summarizes the rollforward of the total amounts of gross unrecognized tax benefits for fiscal years 2015 and 2014 (in thousands): Fiscal Years 2015 2014 Gross unrecognized tax benefits — beginning of the year $ 2,620 $ 2,261 Gross increases related to current year tax positions 482 373 Gross increases related to prior year tax positions 340 310 Gross decreases related to prior year tax positions (195 ) (109 ) Settlements — (34 ) Lapse of statute of limitations (543 ) (181 ) Gross unrecognized tax benefits — end of the year $ 2,704 $ 2,620

Operating Property (Tables)

Operating Property (Tables)	12 Months Ended
	Dec. 26, 2015
Schedule of Operating Property	Operating property is summarized as follows (in thousands): Dec. 26, Dec. 27, Land $ 9,148 $ 9,148 Buildings and improvements 39,532 38,790 Trailing equipment 311,449 267,685 Other equipment 48,389 47,261 Total operating property, gross 408,518 362,884 Less accumulated depreciation and amortization 182,591 160,681 Total operating property, net $ 225,927 $ 202,203

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 26, 2015
Minimum Lease Payments	The future minimum lease payments under all noncancelable leases at December 26, 2015, principally for trailing equipment, are shown in the following table (in thousands): Capital Leases Operating Leases 2016 $ 44,912 $ 907 2017 34,740 278 2018 24,610 138 2019 16,352 68 2020 8,964 — Total future minimum lease payments 129,578 $ 1,391 Less amount representing interest (2.0% to 2.8%) 5,286 Present value of minimum lease payments $ 124,292

Share-Based Payment Arrangeme34

Share-Based Payment Arrangements (Tables)	12 Months Ended
	Dec. 26, 2015
Amounts Recognized in Financial Statements with Respect to Plans	Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands): Fiscal Years 2015 2014 2013 Total cost of the Plans during the period $ 6,925 $ 6,797 $ 4,911 Amount of related income tax benefit recognized during the period (2,432 ) (3,171 ) (1,305 ) Net cost of the Plans during the period $ 4,493 $ 3,626 $ 3,606
Weighted Average Assumptions for Option Grants	The fair value of each option grant on its grant date was calculated using the Black-Scholes option pricing model with the following weighted average assumptions for grants made in fiscal years 2014 and 2013: 2014 2013 Expected volatility 26.0 % 32.0 % Expected dividend yield 0.43 % 0.41 % Risk-free interest rate 1.50 % 0.75 % Expected lives (in years) 4.0 4.0
Summary of Information Regarding Stock Options	The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Options Outstanding Options Exercisable Number of Options Weighted Average Exercise Price per Share Number of Options Weighted Average Exercise Price per Share Options at December 29, 2012 1,781,182 $ 42.56 661,865 $ 40.64 Granted 152,500 $ 56.40 Exercised (421,066 ) $ 40.52 Forfeited (57,800 ) $ 43.90 Options at December 28, 2013 1,454,816 $ 44.55 693,516 $ 42.29 Granted 1,000 $ 58.06 Exercised (615,077 ) $ 41.27 Forfeited (66,900 ) $ 47.51 Options at December 27, 2014 773,839 $ 46.92 379,389 $ 44.61 Exercised (133,518 ) $ 45.25 Forfeited (3,100 ) $ 52.91 Options at December 26, 2015 637,221 $ 47.24 415,121 $ 45.12
Summary of Stock Options Outstanding and Exercisable	The following tables summarize stock options outstanding and exercisable at December 26, 2015: Options Outstanding Range of Exercise Prices Per Share Number Outstanding Weighted Average Remaining Contractual Term (years) Weighted Average Exercise Price per Share $35.64 - $ 83,612 3.6 $ 37.04 $40.01 - $ 215,803 3.9 $ 42.12 $45.01 - $ 337,806 6.1 $ 53.04 637,221 5.0 $ 47.24 Options Exercisable Range of Exercise Prices Per Share Number Exercisable Weighted Average Remaining Contractual Term (years) Weighted Average Exercise Price per Share $35.64 - $ 83,612 3.6 $ 37.04 $40.01 - $ 169,103 3.6 $ 42.23 $45.01 - $ 162,406 5.7 $ 52.28 415,121 4.4 $ 45.12
Restricted Stock Units (RSUs)
Schedule of Information on Restricted Stock Units	The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards under the Plans: Number of Weighted Average Grant Date Outstanding at December 29, 2012 113,000 $ 44.78 Granted 244,500 $ 51.19 Vested (21,901 ) $ 44.78 Forfeited (27,592 ) $ 47.45 Outstanding at December 28, 2013 308,007 $ 49.63 Granted 146,000 $ 53.11 Vested (24,641 ) $ 51.47 Forfeited (3,736 ) $ 49.53 Outstanding at December 27, 2014 425,630 $ 50.72 Granted 111,922 $ 53.30 Vested (91,382 ) $ 51.98 Forfeited (2,013 ) $ 52.81 Outstanding at December 26, 2015 444,157 $ 51.10
Non-vested Restricted Stock
Schedule of Information on Non-Vested Restricted Stock	The following table summarizes information regarding the Company’s outstanding non-vested restricted stock under the Plans: Number of Weighted Average Grant Date Outstanding at December 29, 2012 34,719 $ 42.75 Granted 15,449 $ 54.85 Vested (11,975 ) $ 45.61 Outstanding at December 28, 2013 38,193 $ 46.75 Granted 7,124 $ 63.17 Vested (19,196 ) $ 41.85 Forfeited (2,768 ) $ 54.20 Outstanding at December 27, 2014 23,353 $ 54.90 Granted 1,197 $ 62.46 Vested (6,490 ) $ 57.79 Outstanding at December 26, 2015 18,060 $ 54.36

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 26, 2015
Information Regarding Reportable Business Segments	The following tables summarize information about the Company’s reportable business segments as of and for the fiscal years ending December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands): Transportation Insurance Total 2015 External revenue $ 3,276,677 $ 44,414 $ 3,321,091 Internal revenue 31,342 31,342 Investment income 1,396 1,396 Interest and debt expense 2,949 2,949 Depreciation and amortization 29,102 29,102 Operating income 207,883 33,823 241,706 Expenditures on long-lived assets 4,804 4,804 Goodwill 31,134 31,134 Capital lease additions 49,491 49,491 Total assets 849,102 148,968 998,070 2014 External revenue $ 3,145,413 $ 39,377 $ 3,184,790 Internal revenue 28,164 28,164 Investment income 1,381 1,381 Interest and debt expense 3,177 3,177 Depreciation and amortization 27,575 27,575 Operating income 193,914 30,458 224,372 Expenditures on long-lived assets 10,539 10,539 Goodwill 31,134 31,134 Capital lease additions 47,232 47,232 Total assets 917,789 126,423 1,044,212 2013 External revenue from continuing operations $ 2,628,225 $ 36,555 $ 2,664,780 Internal revenue 28,811 28,811 Investment income 1,475 1,475 Interest and debt expense from continuing operations 3,211 3,211 Depreciation and amortization from continuing operations 27,667 27,667 Operating income from continuing operations 151,188 25,402 176,590 Expenditures on long-lived assets from continuing operations 6,373 6,373 Goodwill 31,134 31,134 Capital lease additions 49,138 49,138 Total assets 754,904 215,792 970,696

Change in Accounting Estimate36

Change in Accounting Estimate for Self-Insured Claims (Tables)	12 Months Ended
	Dec. 26, 2015
Effect of Increase in Cost of Insurance and Claims	The following table summarizes the effect of the increase in the cost of insurance claims resulting from unfavorable development of prior year self-insured claims estimates on operating income, income from continuing operations and earnings per share from continuing operations in the consolidated statements of income for the fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013 (in thousands, except per share amounts): Fiscal Years Ended December 26, 2015 December 27, 2014 December 28, 2013 Operating income $ 4,852 $ 6,664 $ 10,909 Income from continuing operations 2,999 4,118 6,742 Earnings per share from continuing operations $ 0.07 $ 0.09 $ 0.15 Diluted earnings per share from continuing operations $ 0.07 $ 0.09 $ 0.15

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 26, 2015
Quarterly Financial Data	LANDSTAR SYSTEM, INC. AND SUBSIDIARY QUARTERLY FINANCIAL DATA (Dollars in thousands, except per share amounts) (Unaudited) Fourth Quarter 2015 Third Quarter 2015 Second Quarter 2015 First Quarter 2015 Revenue $ 848,602 $ 841,726 $ 868,383 $ 762,380 Operating income $ 62,648 $ 63,980 $ 66,033 $ 49,045 Income before income taxes $ 61,907 $ 63,266 $ 65,320 $ 48,264 Income taxes 24,052 23,918 24,849 18,249 Net income $ 37,855 $ 39,348 $ 40,471 $ 30,015 Earnings per common share(1) $ 0.89 $ 0.91 $ 0.92 $ 0.67 Diluted earnings per share(1) $ 0.88 $ 0.90 $ 0.92 $ 0.67 Dividends per common share $ 0.08 $ 0.08 $ 0.07 $ 0.07 Fourth Quarter 2014 Third Quarter 2014 Second Quarter 2014 First Quarter 2014 Revenue $ 862,830 $ 819,320 $ 814,443 $ 688,197 Operating income $ 61,209 $ 59,577 $ 58,572 $ 45,014 Income before income taxes $ 60,292 $ 58,803 $ 57,854 $ 44,246 Income taxes 21,801 22,048 21,929 16,608 Net income $ 38,491 $ 36,755 $ 35,925 $ 27,638 Earnings per common share(1) $ 0.86 $ 0.82 $ 0.80 $ 0.61 Diluted earnings per share(1) $ 0.86 $ 0.82 $ 0.80 $ 0.61 Dividends per common share $ 1.07 $ 0.07 $ 0.06 $ 0.06 (1) Due to the changes in the number of average common shares and common stock equivalents outstanding during the year, the sum of earnings per share amounts for each quarter do not necessarily sum in the aggregate to the earnings per share amounts for the full year.

Significant Accounting Polici38

Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Significant Accounting Policies [Line Items]
Stock options excluded from calculation of diluted earnings per share, antidilutive	0	0	143,000
Dividends payable per share		$ 1
Dividend payable date		Jan. 26, 2015
Dividend record date		Jan. 12, 2015
Dividends payable		$ 44,794,000
Dividend declared date		Dec. 4, 2014
Buildings And Improvements
Significant Accounting Policies [Line Items]
Depreciated life	30 years
Trailing Equipment | Minimum
Significant Accounting Policies [Line Items]
Depreciated life	7 years
Trailing Equipment | Maximum
Significant Accounting Policies [Line Items]
Depreciated life	10 years
Hardware And Software | Minimum
Significant Accounting Policies [Line Items]
Depreciated life	3 years
Hardware And Software | Maximum
Significant Accounting Policies [Line Items]
Depreciated life	7 years
Commercial Trucking Claims
Significant Accounting Policies [Line Items]
Company retained liability per claim	$ 5,000,000
General Liability Claim
Significant Accounting Policies [Line Items]
Company retained liability per claim	1,000,000
Workers' Compensation Claim
Significant Accounting Policies [Line Items]
Company retained liability per claim	250,000
Cargo Claim
Significant Accounting Policies [Line Items]
Company retained liability per claim	$ 250,000

Summary of Activity in Allowanc

Summary of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 9,671	$ 8,989	$ 14,501
Charged to Costs and Expenses	5,890	5,315	3,736
Write-offs, Net of Recoveries	(5,441)	(4,633)	(9,248)
Balance at End of Period	10,120	9,671	8,989
Trade Receivables
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	4,338	3,773	8,650
Charged to Costs and Expenses	3,985	2,893	1,801
Write-offs, Net of Recoveries	(3,996)	(2,328)	(6,678)
Balance at End of Period	4,327	4,338	3,773
Other Receivables
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	5,103	4,994	5,612
Charged to Costs and Expenses	1,897	2,414	1,929
Write-offs, Net of Recoveries	(1,445)	(2,305)	(2,547)
Balance at End of Period	5,555	5,103	4,994
Other Non-Current Receivables
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	230	222	239
Charged to Costs and Expenses	8	8	6
Write-offs, Net of Recoveries			(23)
Balance at End of Period	$ 238	$ 230	$ 222

Reconciliation of Average Numbe

Reconciliation of Average Number of Common Shares and Common Share Equivalents Outstanding (Detail) - shares	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Average number of common shares outstanding	43,664,000	44,956,000	46,039,000
Incremental shares from assumed exercises of stock options	149,000	213,000	171,000
Average number of common shares and common share equivalents outstanding	43,813,000	45,169,000	46,210,000

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail)	12 Months Ended
	Dec. 28, 2013USD ($)$ / shares
Discontinued Operations [Line Items]
Proceeds from sale of discontinued operations	$ 87,000,000
Value of net assets sold	32,500,000
Direct transaction costs	2,400,000
Gain on the sale of discontinued operations, income taxes	19,145,000
Gain on sale of discontinued operations, net of income taxes	$ 33,029,000
Gain on sale of discontinued operations, per diluted share | $ / shares	$ 0.71
Interest costs allocated in gain calculation	$ 0
Corporate overhead expenses allocated in gain calculation	$ 0

Summary of Specific Financial C

Summary of Specific Financial Components of Discontinued Operations (Detail) $ in Thousands	12 Months Ended
	Dec. 28, 2013USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 21,173
Income from discontinued operations before income taxes	6,673
Gain on sale of discontinued operations before income taxes	52,174
Income/gain from discontinued operations before income taxes	58,847
Income taxes on income from discontinued operations	(2,615)
Income taxes on gain on sale of discontinued operations	(19,145)
Income from discontinued operations, net of income taxes	$ 37,087

Components of and Changes in Ac

Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (1,185)	$ (12)	$ 1,370
Other comprehensive loss	(2,303)	(1,173)	(1,382)
Ending Balance	(3,488)	(1,185)	(12)
Unrealized Holding Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	105	244	908
Other comprehensive loss	(199)	(139)	(664)
Ending Balance	(94)	105	244
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,290)	(256)	462
Other comprehensive loss	(2,104)	(1,034)	(718)
Ending Balance	$ (3,394)	$ (1,290)	$ (256)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014
Schedule of Available-for-sale Securities [Line Items]
Investments maximum maturity period	5 years
Unrealized (loss) gain, net of unrealized gains/losses, on the investments in the bond portfolio	$ (145,000)	$ 163,000
Guarantee Payment Of Insurance Claims
Schedule of Available-for-sale Securities [Line Items]
Letters of credit outstanding	57,610,000
Current Investments
Schedule of Available-for-sale Securities [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	48,823,000
Non-Current Investments
Schedule of Available-for-sale Securities [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	15,188,000
Total non-current investments	$ 59,261,000

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available for Sale Investments (Detail) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 108,229	$ 103,306
Gross Unrealized Gains	196	506
Gross Unrealized Losses	341	343
Fair Value	108,084	103,469
Money market investments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,594	1,729
Fair Value	7,594	1,729
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,523	5,106
Gross Unrealized Gains	1	1
Gross Unrealized Losses	58	50
Fair Value	4,466	5,057
Corporate bonds and direct obligations of government agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	76,839	76,964
Gross Unrealized Gains	190	491
Gross Unrealized Losses	270	284
Fair Value	76,759	77,171
U.S. Treasury Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,273	19,507
Gross Unrealized Gains	5	14
Gross Unrealized Losses	13	9
Fair Value	$ 19,265	$ 19,512

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available for Sale Investments (Detail) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 58,791	$ 28,352
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	288	149
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	562	14,580
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	53	194
Available-for-sale investments with unrealized losses, Fair Value, Total	59,353	42,932
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	341	343
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	4,422	2,006
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	58	13
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		2,447
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		37
Available-for-sale investments with unrealized losses, Fair Value, Total	4,422	4,453
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	58	50
Corporate bonds and direct obligations of government agencies
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	39,276	19,354
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	217	135
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	562	11,373
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	53	149
Available-for-sale investments with unrealized losses, Fair Value, Total	39,838	30,727
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	270	284
U.S. Treasury Obligations
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	15,093	6,992
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	13	1
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		760
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		8
Available-for-sale investments with unrealized losses, Fair Value, Total	15,093	7,752
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 13	$ 9

Schedule of Provision for Incom

Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Income Tax Disclosure [Line Items]
Federal, Current	$ 74,289	$ 68,722	$ 53,089
State, Current	9,550	7,031	4,643
Canadian, Current	437	1,199	683
Total current	84,276	76,952	58,415
Federal, Deferred	6,524	5,234	5,758
State, Deferred	268	200	284
Total deferred	6,792	5,434	6,042
Income taxes	$ 91,068	$ 82,386	$ 64,457

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Income Tax Disclosure [Line Items]
Receivable valuations	$ 3,832	$ 3,623
Share-based payments	2,894	2,939
Self-insured claims	4,132	5,353
Other	3,836	3,616
Total deferred tax assets	14,694	15,531
Operating property	52,547	46,745
Goodwill	5,877	5,619
Other	2,087	2,192
Total deferred tax liabilities	60,511	54,556
Net deferred tax liability	$ 45,817	$ 39,025

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Income Taxes [Line Items]
Deferred tax benefit and expense - discontinued operations			$ 1,342,000
Federal income tax rate	35.00%
Net unrecognized tax benefits	$ 1,899,000	$ 1,836,000
Accrued for estimated interest and penalties	727,000	744,000
Income taxes paid	$ 74,619,000	$ 98,506,000	$ 64,255,000

Schedule of Income Taxes Calcul

Schedule of Income Taxes Calculated on Income from Continuing Operations Before Income Taxes and Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Income Tax Disclosure [Line Items]
Income taxes at federal income tax rate	$ 83,565	$ 77,418	$ 60,683
State income taxes, net of federal income tax benefit	7,201	4,532	3,260
Meals and entertainment exclusion	946	777	919
Share-based payments	(61)	(239)	184
Other, net	(583)	(102)	(589)
Income taxes	$ 91,068	$ 82,386	$ 64,457

Schedule for Gross Unrecognized

Schedule for Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014
Income Tax Disclosure [Line Items]
Gross unrecognized tax benefits - beginning of the year	$ 2,620	$ 2,261
Gross increases related to current year tax positions	482	373
Gross increases related to prior year tax positions	340	310
Gross decreases related to prior year tax positions	(195)	(109)
Settlements		(34)
Lapse of statute of limitations	(543)	(181)
Gross unrecognized tax benefits - end of the year	$ 2,704	$ 2,620

Operating Property (Detail)

Operating Property (Detail) - USD ($) $ in Thousands	Dec. 26, 2015	Dec. 27, 2014
Property, Plant and Equipment [Line Items]
Land	$ 9,148	$ 9,148
Buildings and improvements	39,532	38,790
Trailing equipment	311,449	267,685
Other equipment	48,389	47,261
Total operating property, gross	408,518	362,884
Less accumulated depreciation and amortization	182,591	160,681
Total operating property, net	$ 225,927	$ 202,203

Operating Property - Additional

Operating Property - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Property, Plant and Equipment [Line Items]
Operating property under capital leases	$ 222,428,000	$ 188,311,000
Operating property under capital leases, net of accumulated depreciation and amortization	164,501,000	143,311,000
Capital leases	$ 49,491,000	$ 47,232,000	$ 49,138,000

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Retirement Plans [Line Items]
Defined contribution plan maximum employee contribution as a percentage of base salary	75.00%
Expense from continuing operations for the Company-sponsored defined contribution plan	$ 1,901,000	$ 1,718,000	$ 1,693,000
First 3% of Contributions on Defined Contribution Plan
Retirement Plans [Line Items]
Defined contribution plan employer contribution as a percentage of base salary	100.00%
Threshold to determine company matching percentage	3.00%
Next 2% of Contributions on Defined Contribution Plan
Retirement Plans [Line Items]
Defined contribution plan employer contribution as a percentage of base salary	50.00%
Threshold to determine company matching percentage	2.00%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Debt Instrument [Line Items]
Debt Outstanding Excluding Capital Lease Obligations	$ 0	$ 0
Interest paid	$ 3,012,000	3,229,000	$ 3,175,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, initiation date	Jun. 29, 2012
Credit facility, expiration date	Jun. 29, 2017
Credit facility, borrowing capacity	$ 225,000,000
Borrowings outstanding	$ 0	$ 0
Credit facility, debt covenants compliance	The Company is currently in compliance with all of the debt covenants under the Credit Agreement.
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Credit facility, unused credit commitment fee	0.15%
Credit facility event of default, minimum percentage that a person or group should acquire outstanding capital stock	25.00%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Credit facility, unused credit commitment fee	0.35%
Maximum Leverage ratio beyond which amount of cash dividends and other distributions to stockholders is limited	250.00%
Letter of Credit
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 75,000,000

Minimum Lease Payments (Detail)

Minimum Lease Payments (Detail) $ in Thousands	Dec. 26, 2015USD ($)
Capital Leases And Operating Leases [Line Items]
Capital Leases, 2016	$ 44,912
Capital Leases, 2017	34,740
Capital Leases, 2018	24,610
Capital Leases, 2019	16,352
Capital Leases, 2020	8,964
Capital leases, future minimum payments due, Total	129,578
Less amount representing interest (2.0% to 2.8%)	5,286
Present value of minimum lease payments	124,292
Operating Leases, 2016	907
Operating Leases, 2017	278
Operating Leases, 2018	138
Operating Leases, 2019	68
Operating Leases, 2020	0
Operating lease, future minimum payments due, Total	$ 1,391

Minimum Lease Payments (Parenth

Minimum Lease Payments (Parenthetical) (Detail)	12 Months Ended
	Dec. 26, 2015
Minimum
Capital Leases And Operating Leases [Line Items]
Capital leases, future minimum payments, interest included in payments, interest rate	2.00%
Maximum
Capital Leases And Operating Leases [Line Items]
Capital leases, future minimum payments, interest included in payments, interest rate	2.80%

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Leases Disclosure [Line Items]
Total rent expense/income from continuing operations, net of sublease income	$ 318,000	$ 587,000	$ 1,238,000

Share Based Payment Arrangement

Share Based Payment Arrangements - Additional Information (Detail)	May. 01, 2015shares	Dec. 26, 2015USD ($)shares	Dec. 26, 2015USD ($)EquityPlanshares	Dec. 27, 2014USD ($)$ / sharesshares	Dec. 28, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employee equity incentive plans | EquityPlan			2
Income tax benefit realized on disqualifying dispositions of stock acquired by exercise of incentive stock options			$ 383,000	$ 659,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount rate on stock awards			7.00%
Stock awards granted | shares			111,922	146,000	244,500
Recognized share-based compensation expense			$ 4,943,000	$ 4,443,000	$ 1,276,000
Unrecognized compensation cost expected to be recognized over period, years			2 years 9 months 18 days
Restricted Stock Units (RSUs) | May 2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted | shares	20,000
Restricted Stock Units (RSUs) | Minimum | Prior to 2015 grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU awards vesting period			3 years
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options		$ 23.4	$ 23.4
Restricted Stock Units (RSUs) | Maximum | January 2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU awards vesting period			5 years
Maximum percentage of target available for common share issuance			200.00%
Restricted Stock Units (RSUs) | Maximum | Prior to 2015 grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU awards vesting period			5 years
Maximum percentage of target available for common share issuance			100.00%
Restricted Stock Units (RSUs) | Maximum | May 2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of target available for common share issuance	150.00%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost expected to be recognized over period, years			1 year 6 months
Terms of award			Options granted under the Plans generally become exercisable in either five equal annual installments commencing on the first anniversary of the date of grant or 100% on the fifth anniversary from the date of grant, subject to acceleration in certain circumstances. All options granted under the Plans expire on the tenth anniversary of the date of grant. Under the Plans, the exercise price of each option equals the fair market value of the Company's Common Stock on the date of grant.
The weighted average grant date fair value of stock options granted | $ / shares				$ 12.70	$ 14.21
Stock options outstanding, intrinsic value		6,932,000	$ 6,932,000
Intrinsic value of stock options exercisable		5,398,000	5,398,000
Total intrinsic value of stock options exercised during periods			2,954,000	$ 14,573,000	$ 6,095,000
Unrecognized compensation cost		1,401,000	$ 1,401,000
Non-vested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted | shares			1,197	7,124	15,449
Unrecognized compensation cost, other than options		$ 391,000	$ 391,000
Unrecognized compensation cost expected to be recognized over period, years		1 year
Terms of award			The Company's Common Stock on the date of grant. Shares of non-vested restricted stock are generally subject to vesting in three equal annual installments or 100% on the fifth anniversary of the date of grant.
Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
FMV of restricted shares granted to Directors upon election			$ 225,000
Restricted shares granted | shares			1,197	7,124	13,449
Compensation cost on restricted shares granted			$ 419,000	$ 331,000	$ 442,000
2013 Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance | shares		115,000	115,000
Common stock reserved for issuance | shares		94,334	94,334
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance | shares		6,000,000	6,000,000
Other Stock Compensation Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance | shares		5,490,114	5,490,114

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 6,925	$ 6,797	$ 4,911
Amount of related income tax benefit recognized during the period	(2,432)	(3,171)	(1,305)
Net cost of the Plans during the period	$ 4,493	$ 3,626	$ 3,606

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Number of Shares
Beginning Balance	425,630	308,007	113,000
Granted	111,922	146,000	244,500
Vested	(91,382)	(24,641)	(21,901)
Forfeited	(2,013)	(3,736)	(27,592)
Ending Balance	444,157	425,630	308,007
Weighted Average Grant Date Fair Value
Beginning Balance	$ 50.72	$ 49.63	$ 44.78
Granted	53.30	53.11	51.19
Vested	51.98	51.47	44.78
Forfeited	52.81	49.53	47.45
Ending Balance	$ 51.10	$ 50.72	$ 49.63

Weighted Average Assumptions fo

Weighted Average Assumptions for Option Grants (Detail)	12 Months Ended
	Dec. 27, 2014	Dec. 28, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	26.00%	32.00%
Expected dividend yield	0.43%	0.41%
Risk-free interest rate	1.50%	0.75%
Expected lives (in years)	4 years	4 years

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) - $ / shares	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Number of Options
Beginning Balance, number of options	773,839	1,454,816	1,781,182
Granted, number of options		1,000	152,500
Exercised, number of options	(133,518)	(615,077)	(421,066)
Forfeited, number of options	(3,100)	(66,900)	(57,800)
Ending Balance, number of options	637,221	773,839	1,454,816
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share	$ 46.92	$ 44.55	$ 42.56
Granted, Weighted Average Exercise Price per Share		58.06	56.40
Exercised, Weighted Average Exercise Price per Share	45.25	41.27	40.52
Forfeited, Weighted Average Exercise Price per Share	52.91	47.51	43.90
Ending Balance, Weighted Average Exercise Price per Share	$ 47.24	$ 46.92	$ 44.55
Options exercisable, Number of Options
Options exercisable at the beginning, Number of Options	379,389	693,516	661,865
Options exercisable at the ending, Number of Options	415,121	379,389	693,516
Options exercisable, Weighted Average Exercise Price per Share
Options exercisable at the beginning, Weighted Average Exercise Price per Share	$ 44.61	$ 42.29	$ 40.64
Options exercisable at the ending, Weighted Average Exercise Price per Share	$ 45.12	$ 44.61	$ 42.29

Summary Stock Options Outstandi

Summary Stock Options Outstanding and Exercisable (Detail)	12 Months Ended
	Dec. 26, 2015$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding | shares	637,221
Options Exercisable | shares	415,121
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	5 years
Options Exercisable, Weighted Average Contractual Life (Years)	4 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price per Share	$ 47.24
Options Exercisable, Weighted Average Exercise Price	45.12
Range One
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	35.64
Maximum Exercise Price	$ 40
Options Outstanding | shares	83,612
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price per Share	$ 37.04
Range Two
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	40.01
Maximum Exercise Price	$ 45
Options Outstanding | shares	215,803
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3 years 10 months 24 days
Options Outstanding, Weighted Average Exercise Price per Share	$ 42.12
Range Three
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	45.01
Maximum Exercise Price	$ 58.06
Options Outstanding | shares	337,806
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	6 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price per Share	$ 53.04
Range Four
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	35.64
Maximum Exercise Price	$ 40
Options Exercisable | shares	83,612
Options Exercisable, Weighted Average Contractual Life (Years)	3 years 7 months 6 days
Options Exercisable, Weighted Average Exercise Price	$ 37.04
Range Five
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	40.01
Maximum Exercise Price	$ 45
Options Exercisable | shares	169,103
Options Exercisable, Weighted Average Contractual Life (Years)	3 years 7 months 6 days
Options Exercisable, Weighted Average Exercise Price	$ 42.23
Range Six
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum Exercise Price	45.01
Maximum Exercise Price	$ 56.40
Options Exercisable | shares	162,406
Options Exercisable, Weighted Average Contractual Life (Years)	5 years 8 months 12 days
Options Exercisable, Weighted Average Exercise Price	$ 52.28

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non-vested Restricted Stock - $ / shares	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Number of Shares
Beginning Balance	23,353	38,193	34,719
Granted	1,197	7,124	15,449
Vested	(6,490)	(19,196)	(11,975)
Forfeited		(2,768)
Ending Balance	18,060	23,353	38,193
Weighted Average Grant Date Fair Value
Beginning Balance	$ 54.90	$ 46.75	$ 42.75
Granted	62.46	63.17	54.85
Vested	57.79	41.85	45.61
Forfeited		54.20
Ending Balance	$ 54.36	$ 54.90	$ 46.75

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013	May. 19, 2015
Equity [Line Items]
Shares authorized for repurchase				3,000,000
Remaining shares available for repurchase	1,809,406
Total cost of repurchase of common stock	$ 161,152	$ 56,393	$ 59,496
Preferred stock, shares authorized and unissued	2,000,000
Treasury Stock
Equity [Line Items]
Common stock repurchased during period, shares	2,497,748	939,872	1,116,673

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Dec. 26, 2015USD ($)
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 32,757,000
Guarantee Payment Of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 57,610,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 26, 2015USD ($)CustomerSegment	Dec. 27, 2014USD ($)Customer	Dec. 28, 2013USD ($)Customer
Segment Reporting Information [Line Items]
External revenue | $	$ 3,321,091	$ 3,184,790	$ 2,664,780
Number of segments | Segment	2
Number of customers accounting for 10 percent or more of total revenue | Customer	0	0	0
No single customer accounted for benchmark percentage to be considered major customer	10.00%	10.00%	10.00%

Information Regarding Reportabl

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Segment Reporting Information [Line Items]
External revenue from continuing operations	$ 3,321,091	$ 3,184,790	$ 2,664,780
Internal revenue	31,342	28,164	28,811
Investment income	1,396	1,381	1,475
Interest and debt expense from continuing operations	2,949	3,177	3,211
Depreciation and amortization from continuing operations	29,102	27,575	27,667
Operating income from continuing operations	241,706	224,372	176,590
Expenditures on long-lived assets from continuing operations	4,804	10,539	6,373
Goodwill	31,134	31,134	31,134
Capital lease additions	49,491	47,232	49,138
Total assets	998,070	1,044,212	970,696
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue from continuing operations	3,276,677	3,145,413	2,628,225
Interest and debt expense from continuing operations	2,949	3,177	3,211
Depreciation and amortization from continuing operations	29,102	27,575	27,667
Operating income from continuing operations	207,883	193,914	151,188
Expenditures on long-lived assets from continuing operations	4,804	10,539	6,373
Goodwill	31,134	31,134	31,134
Capital lease additions	49,491	47,232	49,138
Total assets	849,102	917,789	754,904
Insurance
Segment Reporting Information [Line Items]
External revenue from continuing operations	44,414	39,377	36,555
Internal revenue	31,342	28,164	28,811
Investment income	1,396	1,381	1,475
Operating income from continuing operations	33,823	30,458	25,402
Total assets	$ 148,968	$ 126,423	$ 215,792

Effect of Increase in Cost of I

Effect of Increase in Cost of Insurance and Claims (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 26, 2015	Dec. 27, 2014	Dec. 28, 2013
Change in Accounting Estimate [Line Items]
Operating income	$ 241,706	$ 224,372	$ 176,590
Income from continuing operations	$ 147,689	$ 138,809	$ 108,922
Earnings per share from continuing operations	$ 3.38	$ 3.09	$ 2.37
Diluted earnings per share from continuing operations	$ 3.37	$ 3.07	$ 2.36
Development of Prior Year Self Insured Claims Estimates
Change in Accounting Estimate [Line Items]
Operating income	$ 4,852	$ 6,664	$ 10,909
Income from continuing operations	$ 2,999	$ 4,118	$ 6,742
Earnings per share from continuing operations	$ 0.07	$ 0.09	$ 0.15
Diluted earnings per share from continuing operations	$ 0.07	$ 0.09	$ 0.15