Landstar System (LSTR) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 23, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	LSTR
Entity Registrant Name	LANDSTAR SYSTEM INC
Entity Central Index Key	853,816
Current Fiscal Year End Date	--12-29
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,067,995

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 30, 2017
Current Assets
Cash and cash equivalents	$ 220,605	$ 242,416
Short-term investments	39,014	48,928
Trade accounts receivable, less allowance of $6,496 and $6,131	631,828	631,164
Other receivables, including advances to independent contractors, less allowance of $6,796 and $6,012	27,880	24,301
Other current assets	9,373	14,394
Total current assets	928,700	961,203
Operating property, less accumulated depreciation and amortization of $224,042 and $218,700	265,540	276,011
Goodwill	39,363	39,065
Other assets	86,670	76,181
Total assets	1,320,273	1,352,460
Current Liabilities
Cash overdraft	36,320	42,242
Accounts payable	282,480	285,132
Current maturities of long-term debt	39,931	42,051
Insurance claims	39,547	38,919
Dividends payable		62,985
Accrued compensation	12,459	30,103
Other current liabilities	62,206	47,211
Total current liabilities	472,943	548,643
Long-term debt, excluding current maturities	73,350	83,062
Insurance claims	30,252	30,141
Deferred income taxes and other noncurrent liabilities	37,448	36,737
Equity
Landstar System, Inc. and subsidiary shareholders' equity Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,836,164 and 67,740,380 shares	678	677
Additional paid-in capital	211,933	209,599
Retained earnings	1,663,140	1,611,158
Cost of 25,768,669 and 25,749,493 shares of common stock in treasury	(1,169,458)	(1,167,600)
Accumulated other comprehensive loss	(3,551)	(3,162)
Total Landstar System, Inc. and subsidiary shareholders' equity	702,742	650,672
Noncontrolling interest	3,538	3,205
Total equity	706,280	653,877
Total liabilities and equity	$ 1,320,273	$ 1,352,460

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 30, 2017
Allowance on trade accounts receivable	$ 6,496	$ 6,131
Allowance on other receivables	6,796	6,012
Accumulated depreciation and amortization on operating property	$ 224,042	$ 218,700
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	67,836,164	67,740,380
Treasury stock, shares	25,768,669	25,749,493

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Revenue	$ 1,047,926	$ 780,908
Investment income	861	414
Costs and expenses:
Purchased transportation	810,297	595,523
Commissions to agents	82,125	63,798
Other operating costs, net of gains on asset sales/dispositions	7,604	6,897
Insurance and claims	17,360	14,513
Selling, general and administrative	45,251	38,323
Depreciation and amortization	10,997	9,934
Total costs and expenses	973,634	728,988
Operating income	75,153	52,334
Interest and debt expense	800	1,083
Income before income taxes	74,353	51,251
Income taxes	16,880	18,868
Net income	57,473	32,383
Less: Net loss attributable to noncontrolling interest	(44)
Net income attributable to Landstar System, Inc. and subsidiary	$ 57,517	$ 32,383
Earnings per common share attributable to Landstar System, Inc. and subsidiary	$ 1.37	$ 0.77
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.37	$ 0.77
Average number of shares outstanding:
Earnings per common share	42,038,000	41,879,000
Diluted earnings per share	42,098,000	41,998,000
Dividends per common share	$ 0.15	$ 0.09

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Net income attributable to Landstar System, Inc. and subsidiary	$ 57,517	$ 32,383
Other comprehensive income (loss):
Unrealized holding (losses) gains on available-for-sale investments, net of tax (benefit) expense of $(191) and $35	(730)	64
Foreign currency translation gains	341	137
Other comprehensive (loss) income	(389)	201
Comprehensive income attributable to Landstar System, Inc. and subsidiary	$ 57,128	$ 32,584

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Unrealized holding (losses) gains on available-for-sale investments, tax (benefit) expense	$ (191)	$ 35

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
OPERATING ACTIVITIES
Net income	$ 57,473	$ 32,383
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	10,997	9,934
Non-cash interest charges	63	64
Provisions for losses on trade and other accounts receivable	2,735	1,857
Gains on sales/disposals of operating property	(852)	(463)
Deferred income taxes, net	(757)	(709)
Stock-based compensation	3,710	994
Changes in operating assets and liabilities:
Decrease in trade and other accounts receivable	2,901	16,427
Decrease (increase) in other assets	4,311	(174)
Decrease in accounts payable	(9,127)	(15,424)
(Decrease) increase in other liabilities	(191)	13,357
Increase in insurance claims	739	3,702
NET CASH PROVIDED BY OPERATING ACTIVITIES	72,002	61,948
INVESTING ACTIVITIES
Sales and maturities of investments	12,698	23,155
Purchases of investments	(13,399)	(23,678)
Purchases of operating property	(3,814)	(4,978)
Proceeds from sales of operating property	2,285	1,665
NET CASH USED BY INVESTING ACTIVITIES	(2,230)	(3,836)
FINANCING ACTIVITIES
Decrease in cash overdraft	(5,922)	(6,878)
Dividends paid	(69,293)	(3,770)
Proceeds from exercises of stock options	979	1,717
Taxes paid in lieu of shares issued related to stock-based compensation plans	(2,704)	(339)
Purchases of common stock	(1,508)
Principal payments on capital lease obligations	(11,832)	(12,408)
Payment of contingent consideration	(985)
NET CASH USED BY FINANCING ACTIVITIES	(91,265)	(21,678)
Effect of exchange rate changes on cash and cash equivalents	(318)	137
(Decrease) increase in cash and cash equivalents	(21,811)	36,571
Cash and cash equivalents at beginning of period	242,416	178,897
Cash and cash equivalents at end of period	$ 220,605	$ 215,468

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock at Cost	Accumulated Other Comprehensive (Loss) Income	Non-controlling Interests
Beginning Balance (in shares) at Dec. 30, 2017		67,740,380			25,749,493
Beginning Balance at Dec. 30, 2017	$ 653,877	$ 677	$ 209,599	$ 1,611,158	$ (1,167,600)	$ (3,162)	$ 3,205
Net income (loss)	57,473			57,517			(44)
Dividends	(6,308)			(6,308)
Purchases of common stock (in shares)					14,354
Purchases of common stock	(1,508)				$ (1,508)
Issuance of stock related to stock-based compensation plans (in shares)		95,784			4,822
Issuance of stock related to stock-based compensation plans	(1,725)	$ 1	(1,376)		$ (350)
Stock-based compensation	3,710		3,710
Other comprehensive (loss) income	(12)					(389)	377
Ending Balance (in shares) at Mar. 31, 2018		67,836,164			25,768,669
Ending Balance at Mar. 31, 2018	706,280	$ 678	$ 211,933	1,663,140	$ (1,169,458)	$ (3,551)	$ 3,538
Adoption of accounting standards (Note 11) | Accounting Standards Update 2014-09	$ 773			$ 773

Consolidated Statement of Chan9

Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Dividends per common share	$ 0.15	$ 0.09

Business Description

Business Description	3 Months Ended
	Mar. 31, 2018
Business Description	The consolidated financial statements include the accounts of Landstar System, Inc. and its subsidiary, Landstar System Holdings, Inc., and reflect all adjustments (all of a normal, recurring nature) which are, in the opinion of management, necessary for a fair statement of the results for the periods presented. The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates. Landstar System, Inc. and its subsidiary are herein referred to as “Landstar” or the “Company.” Significant intercompany accounts have been eliminated in consolidation. Landstar owns, through various subsidiaries, a controlling interest in Landstar Metro, S.A.P.I. de C.V., a transportation logistics company (“Landstar Metro”), and Landstar Metro Servicios S.A.P.I. de C.V., a services company (“Landstar Servicios”), each based in Mexico City, Mexico. Given Landstar’s controlling interest in each of Landstar Metro and Landstar Servicios, the accounts of Landstar Metro and Landstar Servicios have been consolidated herein and a noncontrolling interest has been recorded for the noncontrolling investors’ interests in the net assets and operations of Landstar Metro and Landstar Servicios.

Acquired Business and Noncontro

Acquired Business and Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Acquired Business and Noncontrolling Interests	(1) Acquired Business and Noncontrolling Interests During 2017, the Company incorporated each of Landstar Metro and Landstar Servicios. On September 20, 2017, Landstar Metro acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. At March 31, 2018 and December 30, 2017, there was approximately $700,000 and $1,900,000, respectively, in liabilities outstanding consisting of additional contingent purchase price and associated indirect taxes. In connection with the acquisition, individuals affiliated with the seller subscribed in the aggregate for a 30% equity interest in each of Landstar Metro and Landstar Servicios. The asset acquisition by Landstar Metro was accounted for as a business combination in accordance with Accounting Standards Codification 805, Business Combinations As it relates to the noncontrolling interests of Landstar Metro and Landstar Servicios, the Company has the option to purchase, and the minority equityholders have the option to sell, during the period commencing on the third anniversary of September 20, 2017, the closing date of the subscription by the minority equityholders (the “Closing Date”), and at any time after the fourth anniversary of the Closing Date, at fair value all but not less than all of the noncontrolling interests in Landstar Metro and Landstar Servicios. The noncontrolling interests are also subject to customary restrictions on transfer, including a right of first refusal in favor of the Company.

Share-based Payment Arrangement

Share-based Payment Arrangements	3 Months Ended
	Mar. 31, 2018
Share-based Payment Arrangements	(2) Share-based Payment Arrangements As of March 31, 2018, 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 Amended and Restated 2013 Directors Stock Compensation Plan (as amended and restated as of May 17, 2016, 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): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Total cost of the Plans during the period $ 3,710 $ 994 Amount of related income tax benefit recognized during the period (2,251 ) (1,127 ) Net cost of the Plans during the period $ 1,459 $ (133 ) Included in income tax benefits recognized in the thirteen-week periods ended March 31, 2018 and April 1, 2017 were income tax benefits of $50,000 and $221,000, 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. Also included in income tax benefits recognized in the thirteen-week periods ended March 31, 2018 and April 1, 2017 were excess tax benefits from stock-based awards of $1,298,000 and $563,000, respectively. As of March 31, 2018, there were 78,682 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 4,519,920 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 with either a performance condition or a market condition under the Plans: Number of Weighted Average Grant Date RSUs Fair Value Outstanding at December 30, 2017 387,372 $ 55.75 Granted 55,651 $ 103.47 Vested (67,971 ) $ 53.92 Forfeited (92,880 ) $ 52.36 Outstanding at March 31, 2018 282,172 $ 66.72 During the thirteen-week period ended March 31, 2018, the Company granted RSUs with a performance condition. RSUs with a performance condition granted on February 2, 2018 may vest on January 31 of 2021, 2022 and 2023 based on growth in operating income and pre-tax 10-K. The Company recognized approximately $3,153,000 and $524,000 of share-based compensation expense related to RSU awards in the thirteen-week periods ended March 31, 2018 and April 1, 2017, respectively. As of March 31, 2018, there was a maximum of $30.2 million of total unrecognized compensation cost related to RSU awards granted under the Plans with an expected average remaining life of approximately 3.5 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 The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Weighted Average Number of Weighted Average Remaining Aggregate Intrinsic Options per Share Term (years) Value (000s) Options outstanding at December 30, 2017 189,040 $ 49.34 Exercised (40,418 ) $ 48.42 Options outstanding at March 31, 2018 148,622 $ 49.59 3.7 $ 8,927 Options exercisable at March 31, 2018 147,622 $ 49.53 3.7 $ 8,875 The total intrinsic value of stock options exercised during the thirteen-week periods ended March 31, 2018 and April 1, 2017 was $2,463,000 and $3,620,000, respectively. As of March 31, 2018, there was no unrecognized compensation cost related to non-vested Non-vested The following table summarizes information regarding the Company’s outstanding shares of non-vested Number of Shares and Deferred Stock Weighted Average Grant Date Fair Value Non-vested 54,755 $ 78.02 Granted 16,863 $ 114.13 Vested (9,819 ) $ 65.27 Forfeited (1,757 ) $ 71.12 Non-vested 60,042 $ 90.45 The fair value of each share of non-vested non-vested As of March 31, 2018, there was $4,236,000 of total unrecognized compensation cost related to non-vested non-vested

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes	(3) Income Taxes The Tax Cuts and Jobs Act (the “Tax Reform Act”) permanently reduced the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. The provisions for income taxes for the 2018 and 2017 thirteen-week periods were based on estimated annual effective income tax rates of 24.5% and 38.2%, respectively, adjusted for discrete events, such as benefits resulting from stock-based awards. The applicable effective income tax rates for the 2018 and 2017 thirteen-week periods were 22.7% and 36.8%, respectively, which were higher than the applicable statutory federal income tax rates of 21% and 35%, respectively. The increase as compared to the statutory federal income tax rate for the 2018 thirteen-week period was primarily attributable to state taxes, the elimination of the performance-based exception under Section 162(m) included in the Tax Reform Act and the meals and entertainment exclusion, partially offset by excess tax benefits realized on stock based awards. The increase as compared to the statutory federal income tax rate for the 2017 thirteen-week period was primarily attributable to state taxes, the meals and entertainment exclusion and non-deductible

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share	(4) Earnings Per Share Earnings per common share attributable to Landstar System, Inc. and subsidiary are based on the weighted average number of shares outstanding, including outstanding non-vested The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share attributable to Landstar System, Inc. and subsidiary to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share attributable to Landstar System, Inc. and subsidiary (in thousands): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Average number of common shares outstanding 42,038 41,879 Incremental shares from assumed exercises of stock options 60 119 Average number of common shares and common share equivalents outstanding 42,098 41,998 For each of the thirteen-week periods ended March 31, 2018 and April 1, 2017, no options outstanding to purchase shares of common stock were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share attributable to Landstar System, Inc. and subsidiary for all periods because the performance metric requirements or market condition for vesting had not been satisfied.

Additional Cash Flow Informatio

Additional Cash Flow Information	3 Months Ended
	Mar. 31, 2018
Additional Cash Flow Information	(5) Additional Cash Flow Information During the 2018 thirteen-week period, Landstar paid income taxes and interest of $464,000 and $976,000, respectively. During the 2017 thirteen-week period, Landstar paid income taxes and interest of $5,464,000 and $1,099,000, respectively. Landstar did not acquire any operating property by entering into capital leases in either the 2018 or 2017 thirteen-week periods. During the 2018 thirteen-week period, Landstar paid $2,162,000 relating to the completion of its freight staging and transload facility in Laredo, TX, for which the Company accrued a corresponding liability included in accounts payable at December 30, 2017. Capital expenditure purchases are recorded as cash outflows from investing activities in the consolidated statement of cash flows in the period in which they are paid.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Information	(6) Segment Information The following table summarizes information about the Company’s reportable business segments as of and for the thirteen-week periods ended March 31, 2018 and April 1, 2017 (in thousands): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,035,640 $ 12,286 $ 1,047,926 $ 769,348 $ 11,560 $ 780,908 Internal revenue 7,498 7,498 7,334 7,334 Investment income 861 861 414 414 Operating income 67,300 7,853 75,153 44,114 8,220 52,334 Expenditures on long-lived assets 3,814 3,814 4,978 4,978 Goodwill 39,363 39,363 31,134 31,134 In the thirteen-week periods ended March 31, 2018 and April 1, 2017, no single customer accounted for more than 10% of the Company’s consolidated revenue.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2018
Other Comprehensive Income	(7) Other Comprehensive Income The following table presents the components of and changes in accumulated other comprehensive income attributable to Landstar System, Inc. and subsidiary, net of related income taxes, as of and for the thirteen-week period ended March 31, 2018 (in thousands): Unrealized Holding Losses on Available-for- Sale Securities Foreign Currency Total Balance as of December 30, 2017 $ (144 ) $ (3,018 ) $ (3,162 ) Other comprehensive (loss) income (730 ) 341 (389 ) Balance as of March 31, 2018 $ (874 ) $ (2,677 ) $ (3,551 ) 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 thirteen-week period ended March 31, 2018.

Investments

Investments	3 Months Ended
	Mar. 31, 2018
Investments	(8) Investments Investments include primarily investment-grade corporate bonds having maturities of up to five years (the “bond portfolio”) and money market investments. Investments in the bond portfolio are reported as available-for-sale available-for-sale non-transferability, The amortized cost and fair values of available-for-sale Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2018 Money market investments $ 26,096 $ — $ — $ 26,096 Asset-backed securities 1,878 — 8 1,870 Corporate bonds and direct obligations of government agencies 83,764 25 1,130 82,659 Total $ 111,738 $ 25 $ 1,138 $ 110,625 December 30, 2017 Money market investments $ 27,895 $ — $ — $ 27,895 Asset-backed securities 2,805 — 5 2,800 Corporate bonds and direct obligations of government agencies 80,442 117 335 80,224 Total $ 111,142 $ 117 $ 340 $ 110,919 For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2018 Asset-backed securities $ 1,870 $ 8 $ — $ — $ 1,870 $ 8 Corporate bonds and direct obligations of government agencies 65,717 953 9,931 177 75,648 1,130 Total $ 67,587 $ 961 $ 9,931 $ 177 $ 77,518 $ 1,138 December 30, 2017 Asset-backed securities $ 1,864 $ 4 $ 632 $ 1 $ 2,496 $ 5 Corporate bonds and direct obligations of government agencies 41,322 220 14,016 115 55,338 335 Total $ 43,186 $ 224 $ 14,648 $ 116 $ 57,834 $ 340 The Company believes unrealized losses on investments were primarily caused by rising interest rates rather than changes 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 March 31, 2018.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies	(9) Commitments and Contingencies Short-term investments include $39,014,000 in current maturities of investments held by the Company’s insurance segment at March 31, 2018. The non-current non-current During 2017, the Company incorporated each of Landstar Metro and Landstar Servicios. On September 20, 2017, Landstar Metro acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. In connection with the acquisition, individuals affiliated with the seller subscribed in the aggregate for a 30% equity interest in each of Landstar Metro and Landstar Servicios. As it relates to the noncontrolling interests of Landstar Metro and Landstar Servicios, the Company has the option to purchase, and the minority equityholders have the option to sell, during the period commencing on the third anniversary of September 20, 2017, the closing date of the subscription by the minority equityholders (the “Closing Date”), and at any time after the fourth anniversary of the Closing Date, at fair value all but not less than all of the noncontrolling interests in Landstar Metro and Landstar Servicios. The noncontrolling interests are also subject to customary restrictions on transfer, including a right of first refusal in favor of the Company. 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.

Change in Accounting Estimate f

Change in Accounting Estimate for Self-Insured Claims	3 Months Ended
	Mar. 31, 2018
Change in Accounting Estimate for Self-Insured Claims	(10) 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 (decrease) in the cost of insurance claims resulting from unfavorable (favorable) development of prior year self-insured claims estimates on operating income, net income attributable to Landstar System, Inc. and subsidiary and earnings per share attributable to Landstar System, Inc. and subsidiary amounts in the consolidated statements of income for the thirteen-week periods ended March 31, 2018 and April 1, 2017 (in thousands, except per share amounts): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Operating income $ 2,558 $ (104 ) Net income attributable to Landstar System, Inc. and subsidiary 1,931 (64 ) Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 — Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 —

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Recent Accounting Pronouncements	(11) Recent Accounting Pronouncements Adoption of New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09 Revenue from Contracts with Customers 2014-09”). 2014-09 2014-09 2014-09 The cumulative effect of the changes made to our consolidated December 31, 2017 balance sheet for the adoption of ASU 2014-09 Balance at December 30, 2017 Adjustments Due to ASU 2014-09 Balance at December 31, 2017 Balance Sheet Assets Trade accounts receivable $ 631,164 $ 9,879 $ 641,043 Other current assets, net 14,394 (469 ) 13,925 Liabilities Accounts payable 285,132 8,637 293,769 Equity Retained earnings 1,611,158 773 1,611,931 In accordance with the new revenue standard requirements, the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands): For the period ended March 31, 2018 As Reported Balances Without 2014-09 Effect of Change Higher/(Lower) Income statement Revenues Transportation $ 1,035,640 $ 1,033,445 $ 2,195 Insurance 12,286 12,286 — Costs and expenses Purchased transportation 810,297 808,561 1,736 Commissions to agents 82,125 81,974 151 Income taxes 16,880 16,805 75 Net income attributable to Landstar System, Inc. and subsidiary 57,517 57,284 233 March 31, 2018 As Reported Balances Without 2014-09 Effect of Change Higher/(Lower) Balance Sheet Assets Trade accounts receivable, net $ 631,828 $ 619,754 $ 12,074 Liabilities Accounts payable 282,480 271,956 10,524 Other current liabilities 62,206 61,662 544 Equity Retained earnings 1,663,140 1,662,134 1,006 Accounting Standards Issued But Not Yet Adopted In February 2016, the FASB issued Accounting Standards Update 2016-02 Leases 2016-02”). 2016-02 right-of-use 2016-02 2016-02 In June 2016, the FASB issued Accounting Standards Update 2016-13– Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2016-13”), 2016-13 2016-13

Share-based Payment Arrangeme22

Share-based Payment Arrangements (Tables)	3 Months Ended
	Mar. 31, 2018
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): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Total cost of the Plans during the period $ 3,710 $ 994 Amount of related income tax benefit recognized during the period (2,251 ) (1,127 ) Net cost of the Plans during the period $ 1,459 $ (133 )
Summary of Information Regarding Stock Options	The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Weighted Average Number of Weighted Average Remaining Aggregate Intrinsic Options per Share Term (years) Value (000s) Options outstanding at December 30, 2017 189,040 $ 49.34 Exercised (40,418 ) $ 48.42 Options outstanding at March 31, 2018 148,622 $ 49.59 3.7 $ 8,927 Options exercisable at March 31, 2018 147,622 $ 49.53 3.7 $ 8,875
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 with either a performance condition or a market condition under the Plans: Number of Weighted Average Grant Date RSUs Fair Value Outstanding at December 30, 2017 387,372 $ 55.75 Granted 55,651 $ 103.47 Vested (67,971 ) $ 53.92 Forfeited (92,880 ) $ 52.36 Outstanding at March 31, 2018 282,172 $ 66.72
Non Vested Restricted Stock and Deferred Stock Units
Schedule of Information on Non-Vested Restricted Stock and Deferred Stock Units	The following table summarizes information regarding the Company’s outstanding shares of non-vested Number of Shares and Deferred Stock Weighted Average Grant Date Fair Value Non-vested 54,755 $ 78.02 Granted 16,863 $ 114.13 Vested (9,819 ) $ 65.27 Forfeited (1,757 ) $ 71.12 Non-vested 60,042 $ 90.45

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Reconciliation of Average Number of Common Shares Outstanding to Average Number of Diluted Shares Outstanding	The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share attributable to Landstar System, Inc. and subsidiary to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share attributable to Landstar System, Inc. and subsidiary (in thousands): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Average number of common shares outstanding 42,038 41,879 Incremental shares from assumed exercises of stock options 60 119 Average number of common shares and common share equivalents outstanding 42,098 41,998

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Information Regarding Reportable Business Segments	The following table summarizes information about the Company’s reportable business segments as of and for the thirteen-week periods ended March 31, 2018 and April 1, 2017 (in thousands): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,035,640 $ 12,286 $ 1,047,926 $ 769,348 $ 11,560 $ 780,908 Internal revenue 7,498 7,498 7,334 7,334 Investment income 861 861 414 414 Operating income 67,300 7,853 75,153 44,114 8,220 52,334 Expenditures on long-lived assets 3,814 3,814 4,978 4,978 Goodwill 39,363 39,363 31,134 31,134

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
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 attributable to Landstar System, Inc. and subsidiary, net of related income taxes, as of and for the thirteen-week period ended March 31, 2018 (in thousands): Unrealized Holding Losses on Available-for- Sale Securities Foreign Currency Total Balance as of December 30, 2017 $ (144 ) $ (3,018 ) $ (3,162 ) Other comprehensive (loss) income (730 ) 341 (389 ) Balance as of March 31, 2018 $ (874 ) $ (2,677 ) $ (3,551 )

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Amortized Cost and Fair Value of Available-for-Sale Investments	The amortized cost and fair values of available-for-sale Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2018 Money market investments $ 26,096 $ — $ — $ 26,096 Asset-backed securities 1,878 — 8 1,870 Corporate bonds and direct obligations of government agencies 83,764 25 1,130 82,659 Total $ 111,738 $ 25 $ 1,138 $ 110,625 December 30, 2017 Money market investments $ 27,895 $ — $ — $ 27,895 Asset-backed securities 2,805 — 5 2,800 Corporate bonds and direct obligations of government agencies 80,442 117 335 80,224 Total $ 111,142 $ 117 $ 340 $ 110,919
Schedule of Unrealized Loss on Available-for-Sale Investments	For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2018 Asset-backed securities $ 1,870 $ 8 $ — $ — $ 1,870 $ 8 Corporate bonds and direct obligations of government agencies 65,717 953 9,931 177 75,648 1,130 Total $ 67,587 $ 961 $ 9,931 $ 177 $ 77,518 $ 1,138 December 30, 2017 Asset-backed securities $ 1,864 $ 4 $ 632 $ 1 $ 2,496 $ 5 Corporate bonds and direct obligations of government agencies 41,322 220 14,016 115 55,338 335 Total $ 43,186 $ 224 $ 14,648 $ 116 $ 57,834 $ 340

Change in Accounting Estimate27

Change in Accounting Estimate for Self-Insured Claims (Tables)	3 Months Ended
	Mar. 31, 2018
Effect of Increase in Cost of Insurance and Claims	The following table summarizes the effect of the increase (decrease) in the cost of insurance claims resulting from unfavorable (favorable) development of prior year self-insured claims estimates on operating income, net income attributable to Landstar System, Inc. and subsidiary and earnings per share attributable to Landstar System, Inc. and subsidiary amounts in the consolidated statements of income for the thirteen-week periods ended March 31, 2018 and April 1, 2017 (in thousands, except per share amounts): Thirteen Weeks Ended March 31, 2018 April 1, 2017 Operating income $ 2,558 $ (104 ) Net income attributable to Landstar System, Inc. and subsidiary 1,931 (64 ) Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 — Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 —

Recent Accounting Pronounceme28

Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Standards Update 2014-09
Adoption of New Accounting Standards	The cumulative effect of the changes made to our consolidated December 31, 2017 balance sheet for the adoption of ASU 2014-09 Balance at December 30, 2017 Adjustments Due to ASU 2014-09 Balance at December 31, 2017 Balance Sheet Assets Trade accounts receivable $ 631,164 $ 9,879 $ 641,043 Other current assets, net 14,394 (469 ) 13,925 Liabilities Accounts payable 285,132 8,637 293,769 Equity Retained earnings 1,611,158 773 1,611,931 In accordance with the new revenue standard requirements, the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands): For the period ended March 31, 2018 As Reported Balances Without 2014-09 Effect of Change Higher/(Lower) Income statement Revenues Transportation $ 1,035,640 $ 1,033,445 $ 2,195 Insurance 12,286 12,286 — Costs and expenses Purchased transportation 810,297 808,561 1,736 Commissions to agents 82,125 81,974 151 Income taxes 16,880 16,805 75 Net income attributable to Landstar System, Inc. and subsidiary 57,517 57,284 233 March 31, 2018 As Reported Balances Without 2014-09 Effect of Change Higher/(Lower) Balance Sheet Assets Trade accounts receivable, net $ 631,828 $ 619,754 $ 12,074 Liabilities Accounts payable 282,480 271,956 10,524 Other current liabilities 62,206 61,662 544 Equity Retained earnings 1,663,140 1,662,134 1,006

Acquired Business and Noncont29

Acquired Business and Noncontrolling Interests - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 20, 2017	Apr. 01, 2017
Goodwill	$ 39,363,000	$ 39,065,000		$ 31,134,000
Fletes Avella | Landstar Metro
Business combination, recognized identifiable assets acquired and liabilities assumed, liabilities	700,000	$ 1,900,000
Ownership interest acquired by affiliates			30.00%
Goodwill	$ 8,500,000
Percentage of goodwill estimated to be deductible for tax purposes	70.00%
Percentage of goodwill estimated to be deductible after purchase of noncontrolling interests by the company	100.00%
Fletes Avella | Landstar Servicios
Ownership interest acquired by affiliates			30.00%

Share-based Payment Arrangeme30

Share-based Payment Arrangements - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)EquityPlanshares	Apr. 01, 2017USD ($)
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	$ 50	$ 221
Accounting Standards Update 2016-09
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefit from stock-based awards	$ 1,298	563
2013 Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance | shares	115,000
Common stock reserved for issuance | shares	78,682
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense	$ 3,153	524
Unrecognized compensation cost expected to be recognized over period, years	3 years 6 months
Non Vested Restricted Stock and Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options	$ 4,236
Unrecognized compensation cost expected to be recognized over period, years	2 years 10 months 25 days
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 either on the first, second and third anniversary of the date of the grant or the third, fourth and fifth anniversary of the date of the grant, or 100% on the first anniversary of the date of the grant. For restricted stock awards granted under the 2013 DSCP plan, each recipient may elect to defer receipt of shares and instead receive restricted stock units (“Deferred Stock Units”), which represent contingent rights to receive shares of the Company’s common stock on the date of recipient separation from service from the Board of Directors, or, if earlier, upon a change in control event of the Company. Deferred Stock Units become vested 100% on the first anniversary of the date of the grant.
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised during periods	$ 2,463	$ 3,620
Unrecognized compensation cost, stock options	0
Maximum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options	$ 30,200
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance | shares	6,000,000
2013 Directors Stock Compensation Plan | Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting percentage	100.00%
Other Stock Compensation Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance | shares	4,519,920

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 3,710	$ 994
Amount of related income tax benefit recognized during the period	(2,251)	(1,127)
Net cost of the Plans during the period	$ 1,459	$ (133)

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of Shares
Beginning Balance | shares	387,372
Granted | shares	55,651
Vested | shares	(67,971)
Forfeited | shares	(92,880)
Ending Balance | shares	282,172
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 55.75
Granted | $ / shares	103.47
Vested | $ / shares	53.92
Forfeited | $ / shares	52.36
Ending Balance | $ / shares	$ 66.72

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Number of Options
Beginning Balance, number of options | shares	189,040
Exercised, number of options | shares	(40,418)
Ending Balance, number of options | shares	148,622
Options exercisable at the ending, Number of Options | shares	147,622
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share | $ / shares	$ 49.34
Exercised, Weighted Average Exercise Price per Share | $ / shares	48.42
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	49.59
Options exercisable at March 31, 2018 | $ / shares	$ 49.53
Weighted Average Remaining Contractual Term (years)
Options outstanding at March 31, 2018	3 years 8 months 12 days
Options exercisable at March 31, 2018	3 years 8 months 12 days
Aggregate Intrinsic Value
Options outstanding at March 31, 2018 | $	$ 8,927
Options exercisable at March 31, 2018 | $	$ 8,875

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	54,755
Granted | shares	16,863
Vested | shares	(9,819)
Forfeited | shares	(1,757)
Ending Balance | shares	60,042
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 78.02
Granted | $ / shares	114.13
Vested | $ / shares	65.27
Forfeited | $ / shares	71.12
Ending Balance | $ / shares	$ 90.45

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Dec. 30, 2017
Income Taxes [Line Items]
Corporate income tax rate	21.00%		35.00%
Estimated annual effective income tax rate	24.50%	38.20%
Effective income tax rate	22.70%	36.80%

Reconciliation of Average Numbe

Reconciliation of Average Number of Common Shares and Common Share Equivalents Outstanding (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Average number of common shares outstanding	42,038,000	41,879,000
Incremental shares from assumed exercises of stock options	60,000	119,000
Average number of common shares and common share equivalents outstanding	42,098,000	41,998,000

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from calculation of diluted earnings per share, antidilutive	0	0

Additional Cash Flow Informat38

Additional Cash Flow Information - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 464	$ 5,464
Interest paid	976	1,099
Payment to acquire operating property	3,814	$ 4,978
Laredo, TX
Supplemental Cash Flow Information [Abstract]
Payment to acquire operating property	$ 2,162

Information Regarding Reportabl

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Dec. 30, 2017
Segment Reporting Information [Line Items]
External revenue	$ 1,047,926	$ 780,908
Internal revenue	7,498	7,334
Investment income	861	414
Operating income	75,153	52,334
Expenditures on long-lived assets	3,814	4,978
Goodwill	39,363	31,134	$ 39,065
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,035,640	769,348
Operating income	67,300	44,114
Expenditures on long-lived assets	3,814	4,978
Goodwill	39,363	31,134
Insurance
Segment Reporting Information [Line Items]
External revenue	12,286	11,560
Internal revenue	7,498	7,334
Investment income	861	414
Operating income	$ 7,853	$ 8,220

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Segment Reporting Information [Line Items]
Number of customers accounting for 10 percent or more of total revenue	0	0
No single customer accounted for benchmark percentage to be considered major customer	10.00%	10.00%

Components of and Changes in Ac

Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 650,672
Other comprehensive (loss) income	(389)	$ 201
Ending Balance	702,742
Unrealized Holding Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(144)
Other comprehensive (loss) income	(730)
Ending Balance	(874)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(3,018)
Other comprehensive (loss) income	341
Ending Balance	(2,677)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(3,162)
Ending Balance	$ (3,551)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Investments maximum maturity period	5 years
Unrealized losses, net of unrealized gains, on the investments in the bond portfolio	$ 1,113	$ 223

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 111,738	$ 111,142
Gross Unrealized Gains	25	117
Gross Unrealized Losses	1,138	340
Fair Value	110,625	110,919
Money market investments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	26,096	27,895
Fair Value	26,096	27,895
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,878	2,805
Gross Unrealized Losses	8	5
Fair Value	1,870	2,800
Corporate bonds and direct obligations of government agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	83,764	80,442
Gross Unrealized Gains	25	117
Gross Unrealized Losses	1,130	335
Fair Value	$ 82,659	$ 80,224

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 67,587	$ 43,186
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	961	224
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	9,931	14,648
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	177	116
Available-for-sale investments with unrealized losses, Fair Value, Total	77,518	57,834
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	1,138	340
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	1,870	1,864
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	8	4
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		632
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		1
Available-for-sale investments with unrealized losses, Fair Value, Total	1,870	2,496
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	8	5
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	65,717	41,322
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	953	220
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	9,931	14,016
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	177	115
Available-for-sale investments with unrealized losses, Fair Value, Total	75,648	55,338
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 1,130	$ 335

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 20, 2017
Fletes Avella | Landstar Metro
Commitments and Contingencies Disclosure [Line Items]
Ownership interest acquired by affiliates		30.00%
Fletes Avella | Landstar Servicios
Commitments and Contingencies Disclosure [Line Items]
Ownership interest acquired by affiliates		30.00%
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 33,115
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	61,186
Current Investments
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	39,014
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	28,970
Total non-current investments	$ 71,611

Effect of Increase in Cost of I

Effect of Increase in Cost of Insurance and Claims (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Change in Accounting Estimate [Line Items]
Operating income	$ 75,153	$ 52,334
Net income attributable to Landstar System, Inc. and subsidiary	$ 57,517	$ 32,383
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.37	$ 0.77
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.37	$ 0.77
Development of Prior Year Self Insured Claims Estimates
Change in Accounting Estimate [Line Items]
Operating income	$ 2,558	$ (104)
Net income attributable to Landstar System, Inc. and subsidiary	$ 1,931	$ (64)
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.05
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.05

Recent Accounting Pronounceme47

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Product Information [Line Items]
Revenue	$ 1,047,926	$ 780,908
BCO Independent Contractor
Product Information [Line Items]
Consolidated revenue, percentage	45.00%
Truck Brokerage Carriers
Product Information [Line Items]
Consolidated revenue, percentage	48.00%
Railroads
Product Information [Line Items]
Consolidated revenue, percentage	3.00%
Air and Ocean Cargo Carriers
Product Information [Line Items]
Consolidated revenue, percentage	2.00%
BCO Independent Contractor and Truck Brokerage Carriers | Van Equipment
Product Information [Line Items]
Revenue	$ 656,135
BCO Independent Contractor and Truck Brokerage Carriers | Unsided/Platform Equipment
Product Information [Line Items]
Revenue	299,369
BCO Independent Contractor and Truck Brokerage Carriers | Less than Truckload
Product Information [Line Items]
Revenue	$ 23,584

Cumulative Effect of Changes Ma

Cumulative Effect of Changes Made to Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Dec. 30, 2017
ASSETS
Trade accounts receivable	$ 631,828	$ 641,043	$ 631,164
Other current assets, net	9,373	13,925	14,394
Liabilities
Accounts payable	282,480	293,769	285,132
Equity
Retained earnings	1,663,140	1,611,931	1,611,158
Calculated under Revenue Guidance in Effect before Topic 606
ASSETS
Trade accounts receivable	619,754		631,164
Other current assets, net			14,394
Liabilities
Accounts payable	271,956		285,132
Equity
Retained earnings	1,662,134		$ 1,611,158
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
ASSETS
Trade accounts receivable	12,074	9,879
Other current assets, net		(469)
Liabilities
Accounts payable	10,524	8,637
Equity
Retained earnings	$ 1,006	$ 773

New Revenue Standard Requiremen

New Revenue Standard Requirements Impact of Adoption on Consolidated Income Statement and Balance Sheet (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Dec. 31, 2017	Dec. 30, 2017
Revenues
Revenues	$ 1,047,926	$ 780,908
Costs and expenses
Purchased transportation	810,297	595,523
Commissions to agents	82,125	63,798
Income taxes	16,880	18,868
Net income attributable to Landstar System, Inc. and subsidiary	57,517	32,383
ASSETS
Trade accounts receivable, net	631,828		$ 641,043	$ 631,164
Liabilities
Accounts payable	282,480		293,769	285,132
Other current liabilities	62,206			47,211
Equity
Retained earnings	1,663,140		1,611,931	1,611,158
Transportation Logistics
Revenues
Revenues	1,035,640	769,348
Insurance
Revenues
Revenues	12,286	$ 11,560
Calculated under Revenue Guidance in Effect before Topic 606
Costs and expenses
Purchased transportation	808,561
Commissions to agents	81,974
Income taxes	16,805
Net income attributable to Landstar System, Inc. and subsidiary	57,284
ASSETS
Trade accounts receivable, net	619,754			631,164
Liabilities
Accounts payable	271,956			285,132
Other current liabilities	61,662
Equity
Retained earnings	1,662,134			$ 1,611,158
Calculated under Revenue Guidance in Effect before Topic 606 | Transportation Logistics
Revenues
Revenues	1,033,445
Calculated under Revenue Guidance in Effect before Topic 606 | Insurance
Revenues
Revenues	12,286
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Costs and expenses
Purchased transportation	1,736
Commissions to agents	151
Income taxes	75
Net income attributable to Landstar System, Inc. and subsidiary	233
ASSETS
Trade accounts receivable, net	12,074		9,879
Liabilities
Accounts payable	10,524		8,637
Other current liabilities	544
Equity
Retained earnings	1,006		$ 773
Difference between Revenue Guidance in Effect before and after Topic 606 | Transportation Logistics | Accounting Standards Update 2014-09
Revenues
Revenues	$ 2,195