Landstar System (LSTR) 10-Q 2 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 29, 2019	Jul. 22, 2019
Document and Entity Information [Abstract]
Amendment Flag	false
Document Type	10-Q
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-28
Document Period End Date	Jun. 29, 2019
Entity Registrant Name	LANDSTAR SYSTEM INC
Entity Filer Category	Large Accelerated Filer
Trading Symbol	LSTR
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		39,629,695
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	0-21238
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1313069
Entity Address, Address Line One	13410 Sutton Park Drive South
Entity Address, City or Town	Jacksonville
Entity Address, Postal Zip Code	32224
City Area Code	904
Local Phone Number	398-9400
Entity Address, State or Province	FL

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Current Assets
Cash and cash equivalents	$ 250,212	$ 199,736
Short-term investments	35,138	40,058
Trade accounts receivable, less allowance of $6,744 and $6,413	594,122	691,604
Other receivables, including advances to independent contractors, less allowance of $7,729 and $6,216	27,212	23,744
Other current assets	32,619	16,287
Total current assets	939,303	971,429
Operating property, less accumulated depreciation and amortization of $264,910 and $250,153	269,246	284,032
Goodwill	38,407	38,232
Other assets	101,737	86,871
Total assets	1,348,693	1,380,564
Current Liabilities
Cash overdraft	43,620	55,339
Accounts payable	285,569	314,134
Current maturities of long-term debt	39,194	43,561
Insurance claims	41,254	40,176
Accrued compensation	11,372	29,489
Contractor escrow	25,530	25,202
Other current liabilities	27,711	27,917
Total current liabilities	474,250	535,818
Long-term debt, excluding current maturities	65,573	84,864
Insurance claims	31,016	30,429
Deferred income taxes and other noncurrent liabilities	49,554	40,320
Equity
Landstar System, Inc. and subsidiary shareholders' equity Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,064,877 and 67,870,962 shares	681	679
Additional paid-in capital	224,550	226,852
Retained earnings	1,952,439	1,841,279
Cost of 28,435,182 and 27,755,001 shares of common stock in treasury	(1,446,425)	(1,376,111)
Accumulated other comprehensive loss	(2,945)	(5,875)
Total Landstar System, Inc. and subsidiary shareholders' equity	728,300	686,824
Noncontrolling interest		2,309
Total equity	728,300	689,133
Total liabilities and equity	$ 1,348,693	$ 1,380,564

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Allowance on trade accounts receivable	$ 6,744	$ 6,413
Allowance on other receivables	7,729	6,216
Accumulated depreciation and amortization on operating property	$ 264,910	$ 250,153
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,064,877	67,870,962
Treasury stock, shares	28,435,182	27,755,001

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Revenue	$ 1,045,040	$ 1,182,786	$ 2,078,040	$ 2,230,712
Investment income	1,283	891	2,421	1,752
Costs and expenses:
Purchased transportation	799,371	916,940	1,591,126	1,727,237
Commissions to agents	87,623	94,399	173,294	176,524
Other operating costs, net of gains on asset sales/dispositions	9,861	7,606	18,100	15,210
Insurance and claims	16,286	21,539	31,279	38,899
Selling, general and administrative	41,297	48,998	82,565	94,249
Depreciation and amortization	11,034	10,769	22,350	21,766
Total costs and expenses	965,472	1,100,251	1,918,714	2,073,885
Operating income	80,851	83,426	161,747	158,579
Interest and debt expense	709	839	1,514	1,639
Income before income taxes	80,142	82,587	160,233	156,940
Income taxes	19,042	20,095	35,833	36,975
Net income	61,100	62,492	124,400	119,965
Less: Net loss attributable to noncontrolling interest	0	(31)	(17)	(75)
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,100	$ 62,523	$ 124,417	$ 120,040
Earnings per common share attributable to Landstar System, Inc. and subsidiary	$ 1.53	$ 1.51	$ 3.11	$ 2.88
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.53	$ 1.51	$ 3.11	$ 2.87
Average number of shares outstanding:
Earnings per common share	39,945,000	41,450,000	40,053,000	41,744,000
Diluted earnings per share	39,945,000	41,491,000	40,053,000	41,795,000
Dividends per common share	$ 0.165	$ 0.150	$ 0.330	$ 0.300

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,100	$ 62,523	$ 124,417	$ 120,040
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for-sale investments, net of tax expense (benefit) of $494, ($233), $222 and ($42)	810	(153)	1,805	(883)
Foreign currency translation gains (losses)	571	(1,580)	1,125	(1,239)
Other comprehensive income (loss)	1,381	(1,733)	2,930	(2,122)
Comprehensive income attributable to Landstar System, Inc. and subsidiary	$ 62,481	$ 60,790	$ 127,347	$ 117,918

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Unrealized holding gains (losses) on available-for-sale investments, tax expense (benefit)	$ 222	$ (42)	$ 494	$ (233)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income	$ 124,400	$ 119,965
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	22,350	21,766
Non-cash interest charges	126	126
Provisions for losses on trade and other accounts receivable	4,194	4,297
Gains on sales/disposals of operating property	(1,219)	(988)
Deferred income taxes, net	5,060	5,585
Stock-based compensation	3,368	8,102
Changes in operating assets and liabilities:
Decrease (increase) in trade and other accounts receivable	89,820	(48,651)
Increase in other assets	(22,808)	(16,537)
(Decrease) increase in accounts payable	(28,565)	20,161
Decrease in other liabilities	(14,315)	(4,488)
Increase in insurance claims	1,665	3,691
NET CASH PROVIDED BY OPERATING ACTIVITIES	184,076	113,029
INVESTING ACTIVITIES
Sales and maturities of investments	41,345	18,399
Purchases of investments	(42,812)	(19,653)
Purchases of operating property	(9,224)	(4,121)
Proceeds from sales of operating property	3,219	2,939
NET CASH USED BY INVESTING ACTIVITIES	(7,472)	(2,436)
FINANCING ACTIVITIES
(Decrease) increase in cash overdraft	(11,719)	3,123
Dividends paid	(13,257)	(75,481)
Proceeds from exercises of stock options	343	1,039
Taxes paid in lieu of shares issued related to stock-based compensation plans	(8,438)	(2,812)
Purchases of common stock	(69,729)	(105,488)
Principal payments on finance lease obligations	(23,658)	(22,768)
Purchase of noncontrolling interest	(600)
Payment of contingent consideration		(985)
NET CASH USED BY FINANCING ACTIVITIES	(127,058)	(203,372)
Effect of exchange rate changes on cash and cash equivalents	930	(996)
Increase (decrease) in cash and cash equivalents	50,476	(93,775)
Cash and cash equivalents at beginning of period	199,736	242,416
Cash and cash equivalents at end of period	$ 250,212	$ 148,641

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - 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
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)	119,965
Ending Balance (in shares) at Jun. 30, 2018		67,847,692			26,754,810
Ending Balance at Jun. 30, 2018	660,933	$ 678	216,328	1,719,475	$ (1,273,489)	(5,284)	3,225
Adoption of accounting standards	773			773
Beginning Balance (in shares) at Mar. 31, 2018		67,836,164			25,768,669
Beginning Balance at Mar. 31, 2018	706,280	$ 678	211,933	1,663,140	$ (1,169,458)	(3,551)	3,538
Net income (loss)	62,492			62,523			(31)
Dividends	(6,188)			(6,188)
Purchases of common stock (in shares)					985,646
Purchases of common stock	(103,980)				$ (103,980)
Issuance of stock related to stock-based compensation plans (in shares)		11,528			495
Issuance of stock related to stock-based compensation plans	(48)		3		$ (51)
Stock-based compensation	4,392		4,392
Other comprehensive (loss) income	(2,015)					(1,733)	(282)
Ending Balance (in shares) at Jun. 30, 2018		67,847,692			26,754,810
Ending Balance at Jun. 30, 2018	660,933	$ 678	216,328	1,719,475	$ (1,273,489)	(5,284)	3,225
Beginning Balance (in shares) at Dec. 29, 2018		67,870,962			27,755,001
Beginning Balance at Dec. 29, 2018	689,133	$ 679	226,852	1,841,279	$ (1,376,111)	(5,875)	2,309
Net income (loss)	63,300			63,317			(17)
Dividends	(6,629)			(6,629)
Purchases of common stock (in shares)					124,481
Purchases of common stock	(12,977)				$ (12,977)
Purchase of noncontrolling interests	(600)		1,842				(2,442)
Issuance of stock related to stock-based compensation plans (in shares)		176,079			5,199
Issuance of stock related to stock-based compensation plans	(7,604)	$ 1	(7,081)		$ (524)
Stock-based compensation	1,938		1,938
Other comprehensive (loss) income	1,699					1,549	150
Ending Balance (in shares) at Mar. 30, 2019		68,047,041			27,884,681
Ending Balance at Mar. 30, 2019	728,260	$ 680	223,551	1,897,967	$ (1,389,612)	(4,326)
Beginning Balance (in shares) at Dec. 29, 2018		67,870,962			27,755,001
Beginning Balance at Dec. 29, 2018	689,133	$ 679	226,852	1,841,279	$ (1,376,111)	(5,875)	2,309
Net income (loss)	124,400
Ending Balance (in shares) at Jun. 29, 2019		68,064,877			28,435,182
Ending Balance at Jun. 29, 2019	728,300	$ 681	224,550	1,952,439	$ (1,446,425)	(2,945)	0
Beginning Balance (in shares) at Mar. 30, 2019		68,047,041			27,884,681
Beginning Balance at Mar. 30, 2019	728,260	$ 680	223,551	1,897,967	$ (1,389,612)	(4,326)
Net income (loss)	61,100			61,100
Dividends	(6,628)			(6,628)
Purchases of common stock (in shares)					549,929
Purchases of common stock	(56,752)				$ (56,752)
Issuance of stock related to stock-based compensation plans (in shares)		17,836			572
Issuance of stock related to stock-based compensation plans	(491)	$ 1	(431)		$ (61)
Stock-based compensation	1,430		1,430
Other comprehensive (loss) income	1,381					1,381
Ending Balance (in shares) at Jun. 29, 2019		68,064,877			28,435,182
Ending Balance at Jun. 29, 2019	$ 728,300	$ 681	$ 224,550	$ 1,952,439	$ (1,446,425)	$ (2,945)	$ 0

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 29, 2019	Jun. 30, 2018
Dividends per common share	$ 0.165	$ 0.165	$ 0.150	$ 0.15	$ 0.330	$ 0.300

Business Description

Business Description	6 Months Ended
	Jun. 29, 2019
Business Description and Basis of Presentation [Text Block]	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.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 29, 2019
Significant Accounting Policies	(1) Significant Accounting Policies Revenue from Contracts with Customers – Disaggregation of Revenue During the twenty six weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 44%, 48% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the twenty-six-week twenty-six-week twenty-six-week twenty-six-week During the thirteen weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 45%, 47% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the thirteen-week period ended June 29, 2019. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 29, 2019 was $605,365,000 hauled via van equipment, $338,107,000 hauled via unsided/platform equipment and $24,732,000 of less-than-truckload. During the thirteen weeks ended June 30, 2018, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 45%, 49% and 3%, respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 2% of the Company’s consolidated revenue in the thirteen-week period ended June 30, 2018. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 30, 2018 was $713,341,000 hauled via van equipment, $364,676,000 hauled via unsided/platform equipment and $27,364,000 of less-than-truckload.

Share-Based Payment Arrangement

Share-Based Payment Arrangements	6 Months Ended
	Jun. 29, 2019
Share-Based Payment Arrangements	(2) Share-based Payment Arrangements As of June 29, 2019, the Company had two Twenty Six Weeks Ended Thirteen Weeks Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Total cost of the Plans during the period $ 3,368 $ 8,102 $ 1,430 $ 4,392 Amount of related income tax benefit recognized during the period (3,734 ) (3,468 ) (672 ) (1,217 ) Net cost of the Plans during the period $ (366 ) $ 4,634 $ 758 $ 3,175 Included in income tax benefits recognized in the twenty-six-week twenty-six-week As of June 29, 2019, there were 66,454 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,995,988 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 Outstanding at December 29, 2018 292,345 $ 66.31 Granted 58,542 $ 95.70 Shares earned in excess of target (1) 71,172 $ 54.78 Vested shares, including shares earned in excess of target (226,981 ) $ 53.27 Forfeited (5,822 ) $ 84.39 Outstanding at June 29, 2019 189,256 $ 86.14 (1) Represents shares earned in excess of target under the January 27, 2015 and January 29, 2016 RSU awards as actual results exceeded the target under both awards as a result of fiscal year 2018 results and under the May 1, 2015 RSU award as total shareholder return exceeded the target under the award. During the twenty-six-week pre-tax 10-K. The Company recognized approximately $2,062,000 and $6,975,000 of share-based compensation expense related to RSU awards in the twenty-six-week Stock Options The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Average Weighted Average Aggregate Intrinsic Options outstanding at December 29, 2018 89,114 $ 50.44 Exercised (22,700 ) $ 49.45 Options outstanding at June 29, 2019 66,414 $ 50.77 2.7 $ 3,800 Options exercisable at June 29, 2019 66,414 $ 50.77 2.7 $ 3,800 The total intrinsic value of stock options exercised during the twenty-six-week As of June 29, 2019, there was no unrecognized compensation cost related to stock options granted under the Plans. Non-vested The following table summarizes information regarding the Company’s outstanding shares of non-vested Number of Shares Weighted Average Grant Date Fair Value Non-vested 55,987 $ 93.66 Granted 30,338 $ 102.76 Vested (21,165 ) $ 92.66 Non-vested 65,160 $ 98.22 The fair value of each share of non-vested restricted stock issued and Deferred Stock Unit granted 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 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 or fifth 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. Deferred Stock Units do not represent actual ownership in shares of the Company’s common stock and the recipient does not have voting rights or other incidents of ownership until the shares are issued. However, Deferred Stock Units do contain the right to receive dividend equivalent payments prior to settlement into shares. As of June 29, 2019, there was $4,996,000 of total unrecognized compensation cost related to non-vested non-vested

Income Taxes

Income Taxes	6 Months Ended
	Jun. 29, 2019
Income Taxes	(3) Income Taxes The provisions for income taxes for the 2019 and 2018 twenty-six-week twenty-six-week primarily attributable to state taxes and the meals and entertainment exclusion, partially offset by excess tax benefits realized on stock based awards. The provision for income taxes for the 2019 twenty-six-week period was favorably impacted by $2,871,000) of excess tax benefits from stock-based awards. The effective income tax rate for the 2018 twenty-six-week period was 23.6)%, which was higher than the statutory federal income tax rate of 21)% primarily attributable to state taxes, the elimination of the performance-based compensation exception under Section 162(m) by the Tax Cuts and Jobs Act (the “Tax Reform Act”) and the meals and entertainment exclusion, partially offset by excess tax benefits realized on stock based awards.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 29, 2019
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 restricted stock and outstanding Deferred Stock Units. Diluted earnings per share attributable to Landstar System, Inc. and subsidiary are based on the weighted average number of common shares and Deferred Stock Units 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 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): Twenty Six Weeks Ended Thirteen Weeks June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Average number of common shares outstanding 40,053 41,744 39,945 41,450 Incremental shares from assumed exercises of stock options — 51 — 41 Average number of common shares and common share equivalents outstanding 40,053 41,795 39,945 41,491 For each of the twenty-six-week

Additional Cash Flow Informatio

Additional Cash Flow Information	6 Months Ended
	Jun. 29, 2019
Additional Cash Flow Information	(5) Additional Cash Flow Information During the 2019 twenty-six-week twenty-six-week no twenty-six-week twenty-six-week

Segment Information

Segment Information	6 Months Ended
	Jun. 29, 2019
Segment Information	(6) Segment Information The following table summarizes information about the Company’s reportable business segments as of and for the twenty-six-week Twenty Six Weeks Ended June 29, 2019 June 30, 2018 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 2,049,777 $ 28,263 $ 2,078,040 $ 2,205,561 $ 25,151 $ 2,230,712 Internal revenue 27,367 27,367 22,917 22,917 Investment income 2,421 2,421 1,752 1,752 Operating income 135,919 25,828 161,747 146,298 12,281 158,579 Expenditures on long-lived assets 9,224 9,224 4,121 4,121 Goodwill 38,407 38,407 38,704 38,704 Thirteen Weeks Ended June 29, 2019 June 30, 2018 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,030,816 $ 14,224 $ 1,045,040 $ 1,169,921 $ 12,865 $ 1,182,786 Internal revenue 17,753 17,753 15,419 15,419 Investment income 1,283 1,283 891 891 Operating income 68,336 12,515 80,851 78,998 4,428 83,426 Expenditures on long-lived assets 4,648 4,648 307 307 In the twenty-six-week

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Jun. 29, 2019
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 twenty-six-week Unrealized Available-for-Sale Foreign Currency Total Balance as of December 29, 2018 $ (930 ) $ (4,945 ) $ (5,875 ) Other comprehensive income 1,805 1,125 2,930 Balance as of June 29, 2019 $ 875 $ (3,820 ) $ (2,945 ) 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 twenty-six-week

Investments

Investments	6 Months Ended
	Jun. 29, 2019
Investments	(8) Investments Investments include primarily investment-grade corporate bonds and U.S. Treasury obligations having maturities of up to five years available-for-sale available-for-sale considered to be temporary are to be included as a component of 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 gains, net of unrealized losses, on the investments in the bond portfolio were $1,115,000 at June 29, 2019, while unrealized losses, net of unrealized gains, on the investments in the bond portfolio were $1,184,000 at December 29, 2018, respectively. The amortized cost and fair values of available-for-sale Amortized Gross Gross Fair Value June 29, 2019 Money market investments $ 17,207 $ — $ — $ 17,207 Asset-backed securities 112 — — 112 Corporate bonds and direct obligations of government agencies 96,282 1,155 49 97,388 U.S. Treasury obligations 1,104 9 — 1,113 Total $ 114,705 $ 1,164 $ 49 $ 115,820 December 29, 2018 Money market investments $ 11,714 $ — $ — $ 11,714 Asset-backed securities 624 — 4 620 Corporate bonds and direct obligations of government agencies 101,021 33 1,213 99,841 Total $ 113,359 $ 33 $ 1,217 $ 112,175 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 June 29, 2019 Corporate bonds and direct obligations of government agencies $ 288 $ 1 $ 17,420 $ 48 $ 17,708 $ 49 December 29, 2018 Asset-backed securities $ — $ — $ 620 $ 4 $ 620 $ 4 Corporate bonds and direct obligations of government agencies 45,960 354 42,803 859 88,763 1,213 Total $ 45,960 $ 354 $ 43,423 $ 863 $ 89,383 $ 1,217 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 June 29, 2019.

Leases

Leases	6 Months Ended
	Jun. 29, 2019
Leases	(9) Leases Landstar’s noncancelable leases are primarily comprised of finance leases for the acquisition of new trailing equipment. Each finance lease for the acquisition of trailing equipment is a five year lease with a $1 purchase option for the applicable equipment at lease expiration. Substantially all of Landstar’s operating lease right-of-use assets and operating lease liabilities represent leases for orientation centers for BCO Independent Contractors and office space used to conduct Landstar’s business. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives or other build-out clauses. Further, the leases do not contain contingent rent provisions. Landstar also leases certain trailing equipment to supplement the Company-owned trailer fleet under “month-to-month” lease terms, which are not required to be recorded on the balance sheet due to the less than twelve month lease term exemption. Sublease income is primarily comprised of weekly trailing equipment rentals to our BCO Independent Contractors. Most of Landstar’s operating leases include one or more options to renew. The exercise of lease renewal options is typically at Landstar’s sole discretion, and, as such, the majority of renewals to extend the lease terms are not included in the right-of-use As most of Landstar’s operating leases do not provide an implicit rate, Landstar utilized its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. Landstar has a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, we apply a portfolio approach for determining the incremental borrowing rate. The components of lease cost for finance leases and operating leases for the twenty six weeks ended June 29, 2019 were (in thousands): Finance leases: Amortization of right-of-use $ 13,132 Interest on lease liability 1,928 Total finance lease cost 15,060 Operating leases: Lease cost 2,280 Variable lease cost — Sublease income (2,571 ) Total operating lease (income)/cost (291 ) Total lease cost $ 14,769 A summary of the lease classification on our consolidated balance sheet as of June 29, 2019 is as follows (in thousands): Assets: Operating lease right-of-use Other assets $ 2,929 Finance lease assets Operating property, less accumulated 152,206 Total lease assets $ 155,135 The following table reconciles the undiscounted cash flows for the finance and operating leases to the finance and operating lease liabilities recorded on the balance sheet at June 29, 2019 (in thousands): Finance Leases Operating Leases 2019 Remainder $ 21,586 $ 445 2020 39,475 681 2021 25,065 616 2022 15,902 622 2023 8,875 551 Thereafter — 301 Total future minimum lease payments 110,903 3,216 Less amount representing interest (2.1% to 4.4%) 6,136 287 Present value of minimum lease payments $ 104,767 $ 2,929 Current maturities of long-term debt 39,194 Long-term debt, excluding current maturities 65,573 Other current liabilities 715 Deferred income taxes and other noncurrent liabilities 2,214 The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 29, 2019 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.2 4.6 Weighted average discount rate 3.2 % 4.0 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 29, 2019
Commitments and Contingencies	(10) Commitments and Contingencies Short-term investments include $35,138,000 in current maturities of investments held by the Company’s insurance segment at June 29, 2019. The non-current p ortion of the bond portfolio of $ is included in other assets. The short-term investments, together with $ of non-current investments, provide collateral for the $ of letters of credit issued to guarantee payment of insurance claims. As of June , , Landstar also had $ of additional letters of credit outstanding under the Company’s Credit Agreement. On January 25, 2019, a purported class action was filed in the Superior Court of the State of California for the County of San Bernardino against Landstar System, Inc. and Landstar Ranger, Inc. (together, the “Defendants”). The complaint purports to bring this action on behalf of Hany Tanious, as an individual, and “all owner operators who performed work for the Defendants, and who were classified as independent contractors, during the four years preceding the filing of this action through the present.” On June 11, 2019, the Defendants filed a Notice of Removal that resulted in the removal of the case from state court to federal court, where it was assigned to Judge Dale S. Fischer of the United State District Court for the Central District of California. Mr. Tanious is a truck owner-operator and formerly an independent contractor who was a party to an independent contractor operating agreement with Landstar Ranger, Inc. The complaint asserts claims based on the alleged misclassification of Mr. Tanious as an independent contractor and alleges violations under California law relating to overtime, minimum wage, meal and rest breaks, failure to reimburse certain expenses, wage statements, waiting time and unfair competition. Mr. Tanious is seeking, on behalf of himself and the purported class, payment of minimum wages, restitution and certain statutory damages and penalties, including compensatory, consequential, general, liquidated and special damages. None of the California Labor Code provisions under which Mr. Tanious seeks relief apply to independent contractors. Due to a number of factors including the preliminary status of this matter, the Company does not believe it is in a position to conclude whether or not there is a reasonable possibility of an adverse outcome in this case or what damages, if any, the plaintiffs would be awarded should they prevail on all or any part of their claims. However, the Company believes it has meritorious defenses and it intends to assert these defenses vigorously. 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	6 Months Ended
	Jun. 29, 2019
Change in Accounting Estimate for Self-Insured Claims	(11) 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, net income attributable to Landstar System, Inc. and subsidiary and earnings per share attributable to Landstar System, Inc. and subsidiary set forth in the consolidated statements of income for the twenty-six-week Twenty Six Weeks Ended Thirteen Weeks Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Operating income $ 2,900 $ 8,244 $ 1,493 $ 5,686 Net income attributable to Landstar System, Inc. and subsidiary 2,198 6,224 1,131 4,293 Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 $ 0.15 $ 0.03 $ 0.10 Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 $ 0.15 $ 0.03 $ 0.10 The unfavorable development of prior years’ claims in the thirteen-week period ended June 30, 2018 was primarily attributable to three claims.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 29, 2019
Recent Accounting Pronouncements	(12) Recent Accounting Pronouncements Adoption of New Accounting Standards In February 2016, the FASB issued Accounting Standards Update 2016-02 Leases 2016-02”), 2018-11, Leases Targeted Improvements 2016-02 right-of-use right-of-use 2016-02. 2016-02 Accounting Standards Issued But Not Yet Adopted 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

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 29, 2019
Revenue Recognition	Revenue from Contracts with Customers – Disaggregation of Revenue During the twenty six weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 44%, 48% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the twenty-six-week twenty-six-week twenty-six-week twenty-six-week During the thirteen weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 45%, 47% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the thirteen-week period ended June 29, 2019. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 29, 2019 was $605,365,000 hauled via van equipment, $338,107,000 hauled via unsided/platform equipment and $24,732,000 of less-than-truckload. During the thirteen weeks ended June 30, 2018, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 45%, 49% and 3%, respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 2% of the Company’s consolidated revenue in the thirteen-week period ended June 30, 2018. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 30, 2018 was $713,341,000 hauled via van equipment, $364,676,000 hauled via unsided/platform equipment and $27,364,000 of less-than-truckload.

Share-Based Payment Arrangeme_2

Share-Based Payment Arrangements (Tables)	6 Months Ended
	Jun. 29, 2019
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): Twenty Six Weeks Ended Thirteen Weeks Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Total cost of the Plans during the period $ 3,368 $ 8,102 $ 1,430 $ 4,392 Amount of related income tax benefit recognized during the period (3,734 ) (3,468 ) (672 ) (1,217 ) Net cost of the Plans during the period $ (366 ) $ 4,634 $ 758 $ 3,175
Summary of Information Regarding Stock Options	The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Average Weighted Average Aggregate Intrinsic Options outstanding at December 29, 2018 89,114 $ 50.44 Exercised (22,700 ) $ 49.45 Options outstanding at June 29, 2019 66,414 $ 50.77 2.7 $ 3,800 Options exercisable at June 29, 2019 66,414 $ 50.77 2.7 $ 3,800
Restricted Stock Units (RSUs)
Schedule of Information on Restricted Stock Units	As of June 29, 2019, there were 66,454 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,995,988 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 Outstanding at December 29, 2018 292,345 $ 66.31 Granted 58,542 $ 95.70 Shares earned in excess of target (1) 71,172 $ 54.78 Vested shares, including shares earned in excess of target (226,981 ) $ 53.27 Forfeited (5,822 ) $ 84.39 Outstanding at June 29, 2019 189,256 $ 86.14 (1) Represents shares earned in excess of target under the January 27, 2015 and January 29, 2016 RSU awards as actual results exceeded the target under both awards as a result of fiscal year 2018 results and under the May 1, 2015 RSU award as total shareholder return exceeded the target under the award.
Non Vested Restricted Stock and Deferred Stock Units
Schedule of Information on Non-Vested Restricted Stock and Deferred Stock Units	Non-vested The following table summarizes information regarding the Company’s outstanding shares of non-vested Number of Shares Weighted Average Grant Date Fair Value Non-vested 55,987 $ 93.66 Granted 30,338 $ 102.76 Vested (21,165 ) $ 92.66 Non-vested 65,160 $ 98.22

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
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): Twenty Six Weeks Ended Thirteen Weeks June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Average number of common shares outstanding 40,053 41,744 39,945 41,450 Incremental shares from assumed exercises of stock options — 51 — 41 Average number of common shares and common share equivalents outstanding 40,053 41,795 39,945 41,491

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 29, 2019
Information Regarding Reportable Business Segments	The following table summarizes information about the Company’s reportable business segments as of and for the twenty-six-week Twenty Six Weeks Ended June 29, 2019 June 30, 2018 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 2,049,777 $ 28,263 $ 2,078,040 $ 2,205,561 $ 25,151 $ 2,230,712 Internal revenue 27,367 27,367 22,917 22,917 Investment income 2,421 2,421 1,752 1,752 Operating income 135,919 25,828 161,747 146,298 12,281 158,579 Expenditures on long-lived assets 9,224 9,224 4,121 4,121 Goodwill 38,407 38,407 38,704 38,704 Thirteen Weeks Ended June 29, 2019 June 30, 2018 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,030,816 $ 14,224 $ 1,045,040 $ 1,169,921 $ 12,865 $ 1,182,786 Internal revenue 17,753 17,753 15,419 15,419 Investment income 1,283 1,283 891 891 Operating income 68,336 12,515 80,851 78,998 4,428 83,426 Expenditures on long-lived assets 4,648 4,648 307 307

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 29, 2019
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 twenty-six-week Unrealized Available-for-Sale Foreign Currency Total Balance as of December 29, 2018 $ (930 ) $ (4,945 ) $ (5,875 ) Other comprehensive income 1,805 1,125 2,930 Balance as of June 29, 2019 $ 875 $ (3,820 ) $ (2,945 )

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 29, 2019
Amortized Cost and Fair Value of Available-for-Sale Investments	The amortized cost and fair values of available-for-sale Amortized Gross Gross Fair Value June 29, 2019 Money market investments $ 17,207 $ — $ — $ 17,207 Asset-backed securities 112 — — 112 Corporate bonds and direct obligations of government agencies 96,282 1,155 49 97,388 U.S. Treasury obligations 1,104 9 — 1,113 Total $ 114,705 $ 1,164 $ 49 $ 115,820 December 29, 2018 Money market investments $ 11,714 $ — $ — $ 11,714 Asset-backed securities 624 — 4 620 Corporate bonds and direct obligations of government agencies 101,021 33 1,213 99,841 Total $ 113,359 $ 33 $ 1,217 $ 112,175
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 June 29, 2019 Corporate bonds and direct obligations of government agencies $ 288 $ 1 $ 17,420 $ 48 $ 17,708 $ 49 December 29, 2018 Asset-backed securities $ — $ — $ 620 $ 4 $ 620 $ 4 Corporate bonds and direct obligations of government agencies 45,960 354 42,803 859 88,763 1,213 Total $ 45,960 $ 354 $ 43,423 $ 863 $ 89,383 $ 1,217

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 29, 2019
Lease, Cost [Table Text Block]	The components of lease cost for finance leases and operating leases for the twenty six weeks ended June 29, 2019 were (in thousands): Finance leases: Amortization of right-of-use $ 13,132 Interest on lease liability 1,928 Total finance lease cost 15,060 Operating leases: Lease cost 2,280 Variable lease cost — Sublease income (2,571 ) Total operating lease (income)/cost (291 ) Total lease cost $ 14,769
Schedule Of Supplemental Balance Sheet In formation Related To Leases [Table Text Block]	A summary of the lease classification on our consolidated balance sheet as of June 29, 2019 is as follows (in thousands): Assets: Operating lease right-of-use Other assets $ 2,929 Finance lease assets Operating property, less accumulated 152,206 Total lease assets $ 155,135
Finance And Operating Lease Maturity [Table Text Block]	The following table reconciles the undiscounted cash flows for the finance and operating leases to the finance and operating lease liabilities recorded on the balance sheet at June 29, 2019 (in thousands): Finance Leases Operating Leases 2019 Remainder $ 21,586 $ 445 2020 39,475 681 2021 25,065 616 2022 15,902 622 2023 8,875 551 Thereafter — 301 Total future minimum lease payments 110,903 3,216 Less amount representing interest (2.1% to 4.4%) 6,136 287 Present value of minimum lease payments $ 104,767 $ 2,929 Current maturities of long-term debt 39,194 Long-term debt, excluding current maturities 65,573 Other current liabilities 715 Deferred income taxes and other noncurrent liabilities 2,214
Schedule Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets [Table Text Block]	The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 29, 2019 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.2 4.6 Weighted average discount rate 3.2 % 4.0 %

Change in Accounting Estimate_2

Change in Accounting Estimate for Self-Insured Claims (Tables)	6 Months Ended
	Jun. 29, 2019
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, net income attributable to Landstar System, Inc. and subsidiary and earnings per share attributable to Landstar System, Inc. and subsidiary set forth in the consolidated statements of income for the twenty-six-week Twenty Six Weeks Ended Thirteen Weeks Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Operating income $ 2,900 $ 8,244 $ 1,493 $ 5,686 Net income attributable to Landstar System, Inc. and subsidiary 2,198 6,224 1,131 4,293 Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 $ 0.15 $ 0.03 $ 0.10 Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.05 $ 0.15 $ 0.03 $ 0.10

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 1,045,040,000	$ 1,182,786,000	$ 2,078,040,000	$ 2,230,712,000
BCO Independent Contractor
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	45.00%	45.00%	44.00%	45.00%
Truck Brokerage Carriers
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	47.00%	49.00%	48.00%	49.00%
Railroads
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	3.00%	3.00%	3.00%	3.00%
Air and Ocean Cargo Carriers
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	3.00%	2.00%	3.00%	2.00%
BCO Independent Contractor and Truck Brokerage Carriers | Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 605,365,000	$ 713,341,000	$ 1,224,379,000	$ 1,369,476,000
BCO Independent Contractor and Truck Brokerage Carriers | Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	338,107,000	364,676,000	648,828,000	664,045,000
BCO Independent Contractor and Truck Brokerage Carriers | Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	$ 24,732,000	$ 27,364,000	$ 48,108,000	$ 50,948,000

Share-Based Payment Arrangeme_3

Share-Based Payment Arrangements - Additional Information (Detail)	6 Months Ended
	Jun. 29, 2019USD ($)EquityPlanshares	Jun. 30, 2018USD ($)
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	$ 38,000	$ 64,000
Excess tax benefit from stock-based awards	2,871,000	1,426,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense	2,062,000	6,975,000
Unrecognized compensation cost, other than options	$ 26,400,000
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	$ 4,996,000
Unrecognized compensation cost expected to be recognized over period, years	2 years 3 months 18 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 or fifth 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	$ 1,269,000	$ 3,203,000
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
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	66,454
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	3,995,988

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 1,430	$ 4,392	$ 3,368	$ 8,102
Amount of related income tax benefit recognized during the period	(672)	(1,217)	(3,734)	(3,468)
Net cost of the Plans during the period	$ 758	$ 3,175	$ (366)	$ 4,634

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 29, 2019$ / sharesshares
Number of Shares
Beginning Balance | shares	292,345
Granted | shares	58,542
Shares earned in excess of target | shares	71,172
Vested shares, including shares earned in excess of target | shares	(226,981)
Forfeited | shares	(5,822)
Ending Balance | shares	189,256
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 66.31
Granted | $ / shares	95.70
Shares earned in excess of target | $ / shares	54.78
Vested shares, including shares earned in excess of target | $ / shares	53.27
Forfeited | $ / shares	84.39
Ending Balance | $ / shares	$ 86.14

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)$ / sharesshares
Number of Options
Beginning Balance, number of options | shares	89,114
Exercised, number of options | shares	(22,700)
Ending Balance, number of options | shares	66,414
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share | $ / shares	$ 50.44
Exercised, Weighted Average Exercise Price per Share | $ / shares	49.45
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	$ 50.77
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options | shares	66,414
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share | $ / shares	$ 50.77
Weighted Average Remaining Contractual Term (years)
Options outstanding at June 29, 2019	2 years 8 months 12 days
Options exercisable at June 29, 2019	2 years 8 months 12 days
Aggregate Intrinsic Value
Options outstanding at June 29, 2019 | $	$ 3,800
Options exercisable at June 29, 2019 | $	$ 3,800

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	6 Months Ended
	Jun. 29, 2019$ / sharesshares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	55,987
Granted | shares	30,338
Vested | shares	(21,165)
Ending Balance | shares	65,160
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 93.66
Granted | $ / shares	102.76
Vested | $ / shares	92.66
Ending Balance | $ / shares	$ 98.22

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Income Taxes [Line Items]
Corporate income tax rate	21.00%	21.00%
Excess tax benefit from stock-based awards	$ 2,871,000	$ 1,426,000
Estimated annual effective income tax rate	24.20%	24.50%
Effective income tax rate	22.40%	23.60%

Reconciliation of Average Numbe

Reconciliation of Average Number of Common Shares and Common Share Equivalents Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Average number of common shares outstanding	39,945,000	41,450,000	40,053,000	41,744,000
Incremental shares from assumed exercises of stock options	0	41,000	0	51,000
Average number of common shares and common share equivalents outstanding	39,945,000	41,491,000	40,053,000	41,795,000

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
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 Informat_2

Additional Cash Flow Information - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 39,180,000	$ 40,062,000
Purchase of operating property by finance lease	0	1,617,000
Interest paid	$ 2,286,000	$ 1,886,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
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%

Information Regarding Reportabl

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018
Segment Reporting Information [Line Items]
External revenue	$ 1,045,040	$ 1,182,786	$ 2,078,040	$ 2,230,712
Internal revenue	17,753	15,419	27,367	22,917
Investment income	1,283	891	2,421	1,752
Operating income	80,851	83,426	161,747	158,579
Expenditures on long-lived assets	4,648	307	9,224	4,121
Goodwill	38,407	38,704	38,407	38,704	$ 38,232
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,030,816	1,169,921	2,049,777	2,205,561
Operating income	68,336	78,998	135,919	146,298
Expenditures on long-lived assets	4,648	307	9,224	4,121
Goodwill	38,407	38,704	38,407	38,704
Insurance
Segment Reporting Information [Line Items]
External revenue	14,224	12,865	28,263	25,151
Internal revenue	17,753	15,419	27,367	22,917
Investment income	1,283	891	2,421	1,752
Operating income	$ 12,515	$ 4,428	$ 25,828	$ 12,281

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		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ 686,824
Other comprehensive income (loss)	$ 1,381	$ (1,733)	2,930	$ (2,122)
Ending Balance	728,300		728,300
Unrealized Holding (Losses) Gains on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(930)
Other comprehensive income (loss)			1,805
Ending Balance	875		875
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(4,945)
Other comprehensive income (loss)			1,125
Ending Balance	(3,820)		(3,820)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(5,875)
Ending Balance	$ (2,945)		$ (2,945)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 29, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Investments maximum maturity period	5 years
Unrealized gain (loss), net of unrealized gains/losses, on the investments in the bond portfolio	$ 1,115,000	$ (1,184,000)

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 114,705	$ 113,359
Gross Unrealized Gains	1,164	33
Gross Unrealized Losses	49	1,217
Fair Value	115,820	112,175
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	17,207	11,714
Fair Value	17,207	11,714
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	112	624
Gross Unrealized Losses		4
Fair Value	112	620
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	96,282	101,021
Gross Unrealized Gains	1,155	33
Gross Unrealized Losses	49	1,213
Fair Value	97,388	$ 99,841
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,104
Gross Unrealized Gains	9
Fair Value	$ 1,113

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value		$ 45,960
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss		354
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		43,423
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		863
Available-for-sale investments with unrealized losses, Fair Value, Total		89,383
Available-for-sale investments with unrealized losses, Unrealized Loss, Total		1,217
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		620
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		4
Available-for-sale investments with unrealized losses, Fair Value, Total		620
Available-for-sale investments with unrealized losses, Unrealized Loss, Total		4
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 288	45,960
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	1	354
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	17,420	42,803
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	48	859
Available-for-sale investments with unrealized losses, Fair Value, Total	17,708	88,763
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 49	$ 1,213

Leases - Additional Information

Leases - Additional Information (Detail)	Jun. 29, 2019USD ($)
Leases Disclosure [Line Items]
Finance Lease Option to Purchase Option Value	$ 1
Lessee, Finance Lease, Term of Contract	5 years

Leases - Components of Lease Co

Leases - Components of Lease Cost for Finance Leases and Operating Leases (Detail) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Finance leases:
Amortization of right-of-use assets	$ 13,132
Interest on lease liability	1,928
Total finance lease cost	15,060
Operating leases:
Lease cost	2,280
Sublease income	(2,571)
Total operating lease (income)/cost	(291)
Total lease cost	$ 14,769

Leases - Classification on our

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Jun. 29, 2019USD ($)
Total lease assets	$ 155,135
Other Assets [Member]
Operating lease right-of-use assets	2,929
Property Plant and Equipment Net [Member]
Finance lease assets	$ 152,206

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Operating Leased Assets [Line Items]
2019 Remainder	$ 21,586
2020	39,475
2021	25,065
2022	15,902
2023	8,875
Total future minimum lease payments	110,903
Less amount representing interest (2.1% to 4.4%)	6,136
Present value of minimum lease payments	104,767
Current maturities of long-term debt	39,194	$ 43,561
Long-term debt, excluding current maturities	65,573	$ 84,864
2019 Remainder	445
2020	681
2021	616
2022	622
2023	551
Thereafter	301
Total future minimum lease payments	3,216
Less amount representing interest (2.1% to 4.4%)	287
Present value of minimum lease payments	2,929
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	715
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 2,214

Leases - Undiscounted Cash Fl_2

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Jun. 29, 2019
Maximum [Member]
Finance lease Interest rate percentage	4.40%
Minimum [Member]
Finance lease Interest rate percentage	2.10%

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and the Weighted Average Discount Rate for Finance and Operating leases (Detail)	Jun. 29, 2019
Weighted average remaining lease term (years)	3 years 2 months 12 days
Weighted average discount rate	3.20%
Weighted average remaining lease term (years)	4 years 7 months 6 days
Weighted average discount rate	4.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jun. 29, 2019USD ($)
Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 35,138,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	80,682,000
Non-Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	33,199,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	34,367,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 61,503,000

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		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Change in Accounting Estimate [Line Items]
Operating income	$ 80,851	$ 83,426	$ 161,747	$ 158,579
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,100	$ 62,523	$ 124,417	$ 120,040
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.53	$ 1.51	$ 3.11	$ 2.88
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.53	$ 1.51	$ 3.11	$ 2.87
Development of Prior Year Self Insured Claims Estimates
Change in Accounting Estimate [Line Items]
Operating income	$ 1,493	$ 5,686	$ 2,900	$ 8,244
Net income attributable to Landstar System, Inc. and subsidiary	$ 1,131	$ 4,293	$ 2,198	$ 6,224
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.03	$ 0.10	$ 0.05	$ 0.15
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.03	$ 0.10	$ 0.05	$ 0.15

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Information (Detail)	Jun. 29, 2019USD ($)
Accounting Standards Update 2016-02 [Member]
Assets and Liabilities, Lessee [Abstract]
Right-of-use assets	$ 2,929,000