Landstar System (LSTR) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 26, 2020	Oct. 19, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-26
Document Period End Date	Sep. 26, 2020
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		38,383,779
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	Sep. 26, 2020	Dec. 28, 2019
Current Assets
Cash and cash equivalents	$ 218,554	$ 319,515
Short-term investments	39,068	32,901
Trade accounts receivable, less allowance of $8,120 and $7,284	637,908	588,549
Other receivables, including advances to independent contractors, less allowance of $8,827 and $7,667	40,550	35,553
Other current assets	27,989	21,370
Total current assets	964,069	997,888
Operating property, less accumulated depreciation and amortization of $291,159 and $280,849	279,495	285,855
Goodwill	40,251	38,508
Other assets	108,390	105,460
Total assets	1,392,205	1,427,711
Current Liabilities
Cash overdraft	47,459	53,878
Accounts payable	339,798	271,996
Current maturities of long-term debt	34,723	42,632
Insurance claims	46,019	44,532
Dividends payable		78,947
Contractor escrow	28,345	24,902
Other current liabilities	47,206	36,017
Total current liabilities	543,550	552,904
Long-term debt, excluding current maturities	52,570	70,212
Insurance claims	36,344	33,575
Deferred income taxes and other noncurrent liabilities	54,107	49,551
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,181,418 and 68,083,419 shares	682	681
Additional paid-in capital	226,878	226,123
Retained earnings	2,065,999	1,962,161
Cost of 29,797,639 and 28,609,926 shares of common stock in treasury	(1,581,961)	(1,465,284)
Accumulated other comprehensive loss	(5,964)	(2,212)
Total shareholders' equity	705,634	721,469
Total liabilities and shareholders' equity	$ 1,392,205	$ 1,427,711

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Allowance on trade accounts receivable	$ 8,120	$ 7,284
Allowance on other receivables	8,827	7,667
Accumulated depreciation and amortization on operating property	$ 291,159	$ 280,849
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,181,418	68,083,419
Treasury stock, shares	29,797,639	28,609,926

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenue	$ 1,085,546	$ 1,011,658	$ 2,836,626	$ 3,089,698
Investment income	714	1,315	2,716	3,736
Costs and expenses:
Purchased transportation	838,753	774,520	2,183,143	2,365,646
Commissions to agents	85,848	84,568	236,490	257,862
Other operating costs, net of gains/losses on asset sales/dispositions	7,361	10,431	23,035	28,531
Insurance and claims	21,855	23,969	66,563	55,248
Selling, general and administrative	38,851	38,152	124,779	120,717
Depreciation and amortization	11,240	10,695	34,212	33,045
Impairment of intangible and other assets			2,582
Total costs and expenses	1,003,908	942,335	2,670,804	2,861,049
Operating income	82,352	70,638	168,538	232,385
Interest and debt expense	1,008	764	2,936	2,278
Income before income taxes	81,344	69,874	165,602	230,107
Income taxes	19,458	16,619	38,567	52,452
Net income	61,886	53,255	127,035	177,655
Less: Net loss attributable to noncontrolling interest				(17)
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,886	$ 53,255	$ 127,035	$ 177,672
Earnings per common share attributable to Landstar System, Inc. and subsidiary	$ 1.61	$ 1.35	$ 3.28	$ 4.45
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.61	$ 1.35	$ 3.28	$ 4.45
Average number of shares outstanding:
Earnings per common share	38,386,000	39,566,000	38,673,000	39,891,000
Diluted earnings per share	38,386,000	39,566,000	38,673,000	39,891,000
Dividends per common share	$ 0.210	$ 0.185	$ 0.580	$ 0.515

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,886	$ 53,255	$ 127,035	$ 177,672
Other comprehensive (loss) income:
Unrealized holding gains on available-for-sale investments, net of tax expense of $413, $577, $75 and $83	273	307	1,510	2,112
Foreign currency translation (losses) gains	908	(1,083)	(5,262)	42
Other comprehensive (loss) income	1,181	(776)	(3,752)	2,154
Comprehensive income attributable to Landstar System, Inc. and subsidiary	$ 63,067	$ 52,479	$ 123,283	$ 179,826

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Unrealized holding gains on available-for-sale investments, net of tax expense	$ 75	$ 83	$ 413	$ 577

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
OPERATING ACTIVITIES
Net income	$ 127,035	$ 177,655
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	34,212	33,045
Non-cash interest charges	222	190
Provisions for losses on trade and other accounts receivable	7,206	6,942
Gains on sales/disposals of operating property	(2,295)	(1,188)
Impairment of intangible and other assets	2,582
Deferred income taxes, net	4,758	7,151
Stock-based compensation	2,691	4,470
Changes in operating assets and liabilities:
(Increase) decrease in trade and other accounts receivable	(62,492)	84,607
Increase in other assets	(13,492)	(21,129)
Increase (decrease) in accounts payable	66,815	(28,692)
Increase (decrease) in other liabilities	14,050	(16,076)
Increase in insurance claims	4,256	13,739
NET CASH PROVIDED BY OPERATING ACTIVITIES	185,548	260,714
INVESTING ACTIVITIES
Net changes in other short-term investments	131
Sales and maturities of investments	18,795	56,467
Purchases of investments	(21,102)	(58,829)
Purchases of operating property	(25,426)	(15,199)
Proceeds from sales of operating property	6,623	3,621
Consideration paid for acquisition	(2,766)
NET CASH USED BY INVESTING ACTIVITIES	(23,745)	(13,940)
FINANCING ACTIVITIES
Decrease in cash overdraft	(6,419)	(10,714)
Dividends paid	(101,442)	(20,589)
Payment for debt issue costs	(959)
Proceeds from exercises of stock options	676	629
Taxes paid in lieu of shares issued related to stock-based compensation plans	(3,326)	(8,449)
Purchases of common stock	(115,962)	(88,578)
Principal payments on finance lease obligations	(33,036)	(34,141)
Purchase of noncontrolling interest		(600)
NET CASH USED BY FINANCING ACTIVITIES	(260,468)	(162,442)
Effect of exchange rate changes on cash and cash equivalents	(2,296)	366
(Decrease) increase in cash and cash equivalents	(100,961)	84,698
Cash and cash equivalents at beginning of period	319,515	199,736
Cash and cash equivalents at end of period	$ 218,554	$ 284,434

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. 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)	0
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)	177,655
Ending Balance (in shares) at Sep. 28, 2019		68,072,834			28,609,926
Ending Balance at Sep. 28, 2019	755,975	$ 681	225,937	1,998,362	$ (1,465,284)	(3,721)	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)	0
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
Net income (loss)	53,255			53,255
Dividends	(7,332)			(7,332)
Purchases of common stock (in shares)					174,658
Purchases of common stock	(18,849)				$ (18,849)
Issuance of stock related to stock-based compensation plans (in shares)		7,957			86
Issuance of stock related to stock-based compensation plans	275		285		$ (10)
Stock-based compensation	1,102		1,102
Other comprehensive (loss) income	(776)					(776)
Ending Balance (in shares) at Sep. 28, 2019		68,072,834			28,609,926
Ending Balance at Sep. 28, 2019	755,975	$ 681	225,937	1,998,362	$ (1,465,284)	(3,721)	$ 0
Beginning Balance (in shares) at Dec. 28, 2019		68,083,419			28,609,926
Beginning Balance at Dec. 28, 2019	721,469	$ 681	226,123	1,962,161	$ (1,465,284)	(2,212)
Beginning Balance at Dec. 28, 2019	721,469
Adoption of accounting standards (Note 15) | Accounting Standards Update 2016-13	(702)			(702)
Net income (loss)	40,895			40,895
Dividends	(7,336)			(7,336)
Purchases of common stock (in shares)					1,178,970
Purchases of common stock	(115,962)				$ (115,962)
Issuance of stock related to stock-based compensation plans (in shares)		84,063			8,078
Issuance of stock related to stock-based compensation plans	(2,419)	$ 1	(1,781)		$ (639)
Stock-based compensation	631		631
Other comprehensive (loss) income	(9,481)					(9,481)
Ending Balance (in shares) at Mar. 28, 2020		68,167,482			29,796,974
Ending Balance at Mar. 28, 2020	627,095	$ 682	224,973	1,995,018	$ (1,581,885)	(11,693)
Beginning Balance (in shares) at Dec. 28, 2019		68,083,419			28,609,926
Beginning Balance at Dec. 28, 2019	721,469	$ 681	226,123	1,962,161	$ (1,465,284)	(2,212)
Beginning Balance at Dec. 28, 2019	721,469
Net income (loss)	127,035
Ending Balance (in shares) at Sep. 26, 2020		68,181,418			29,797,639
Ending Balance at Sep. 26, 2020	705,634	$ 682	226,878	2,065,999	$ (1,581,961)	(5,964)
Beginning Balance (in shares) at Mar. 28, 2020		68,167,482			29,796,974
Beginning Balance at Mar. 28, 2020	627,095	$ 682	224,973	1,995,018	$ (1,581,885)	(11,693)
Net income (loss)	24,254			24,254
Dividends	(7,099)			(7,099)
Issuance of stock related to stock-based compensation plans (in shares)		9,305			354
Issuance of stock related to stock-based compensation plans	(247)		(211)		$ (36)
Stock-based compensation	570		570
Other comprehensive (loss) income	4,548					4,548
Ending Balance (in shares) at Jun. 27, 2020		68,176,787			29,797,328
Ending Balance at Jun. 27, 2020	649,121	$ 682	225,332	2,012,173	$ (1,581,921)	(7,145)
Net income (loss)	61,886			61,886
Dividends	(8,060)			(8,060)
Issuance of stock related to stock-based compensation plans (in shares)		4,631			311
Issuance of stock related to stock-based compensation plans	16		56		$ (40)
Stock-based compensation	1,490		1,490
Other comprehensive (loss) income	1,181					1,181
Ending Balance (in shares) at Sep. 26, 2020		68,181,418			29,797,639
Ending Balance at Sep. 26, 2020	$ 705,634	$ 682	$ 226,878	$ 2,065,999	$ (1,581,961)	$ (5,964)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 26, 2020	Sep. 28, 2019
Dividends per common share	$ 0.210	$ 0.185	$ 0.185	$ 0.185	$ 0.165	$ 0.165	$ 0.580	$ 0.515

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 26, 2020
Significant Accounting Policies	(1) Significant Accounting Policies Revenue from Contracts with Customers – Disaggregation of Revenue The following table summarizes the percentage of consolidated revenue generated by mode of transportation dollars Thirty Nine Weeks Ended Thirteen Weeks Ended Mode September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 BCO Independent Contractors – 46 % 45 % 46 % 46 % Brokerage Carriers - 46 % 47 % 46 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 3 % 3 % 3 % 3 % Equipment Type - Truck Van equipment $ 1,694,916 $ 1,799,421 $ 666,582 $ 575,042 Unsided/platform equipment $ 848,187 $ 980,615 $ 314,471 $ 331,787 Less-than-truckload $ 70,984 $ 73,475 $ 25,125 $ 25,367

Acquired Business

Acquired Business	9 Months Ended
	Sep. 26, 2020
Acquired Business	(2) Acquired Business On May 6, 2020, Landstar System Holdings, Inc. formed a new subsidiary that was subsequently renamed Landstar Blue, LLC (“Landstar Blue”). Landstar Blue arranges truckload brokerage services while helping the Company to develop and test digital technologies and processes for the benefit of all Landstar independent commission sales agents. On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. Cash consideration paid for the acquisition was approximately $2,766,000. In addition, the Company assumed approximately $200,000 in liabilities consisting of additional contingent purchase price. The resulting goodwill arising from the acquisition was approximately $2,871,000. With respect to this goodwill, 100% is expected to be deductible by the Company for U.S. income tax purposes. Pro forma financial information for prior periods is not presented as the Company does not believe the acquisition to be material to the Company’s consolidated results. The results of operations for Landstar Blue are presented as part of the Company’s transportations logistics segment. Transaction costs for the acquisition were insignificant.

Share-based Payment Arrangement

Share-based Payment Arrangements	9 Months Ended
	Sep. 26, 2020
Share-based Payment Arrangements	(3) Share-based Payment Arrangements As of September 26, 2020, 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 Thirty Nine Weeks Ended Thirteen Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Total cost of the Plans during the period $ 2,691 $ 4,470 $ 1,490 $ 1,102 Amount of related income tax benefit recognized during the period (1,618 ) (4,125 ) (483 ) (391 ) Net cost of the Plans during the period $ 1,073 $ 345 $ 1,007 $ 711 Included in income tax benefits recognized in the thirty-nine-week periods ended September 26, 2020 and September 28, 2019 were excess tax benefits from stock-based awards of $927,000 and $2,968,000, respectively. As of September 26, 2020, there were 60,586 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,675,862 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 28, 2019 198,875 $ 84.37 Granted 59,719 $ 102.62 Shares earned in excess of target (1) 11,648 $ 77.00 Vested shares, including shares earned in excess of target (76,290 ) $ 73.44 Forfeited (10,987 ) $ 100.55 Outstanding at September 26, 2020 182,965 $ 93.44 (1) Represents additional shares earned under the February 2, 2017 RSU awards as 2019 financial results exceeded target performance level. During the thirty-nine-week period ended September 26, 2020, the Company granted RSUs with a performance condition. Outstanding RSUs at both December 28, 2019 and September 26, 2020 include RSUs with a performance condition and RSUs with a market condition, as further described below and in the Company’s 2019 Annual Report on Form 10-K. RSUs with a performance condition granted on January 31, 2020 may vest on January 31 of 2023, 2024 and 2025 based on growth in operating income and pre-tax The Company recognized approximately $415,000 and $2,477,000 of share-based compensation expense related to RSU awards in the thirty-nine-week periods ended September 26, 2020 and September 28, 2019, respectively. As of September 26, 2020, there was a maximum of $34.6 million of total unrecognized compensation cost related to RSU awards granted under the Plans with an expected average remaining life of approximately 3.1 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: Number of Options Weighted Average per Share Weighted Average Remaining Term (years) Aggregate Intrinsic Value (000s) Options outstanding at December 28, 2019 44,467 $ 51.24 Exercised (23,717 ) $ 49.31 Options outstanding at September 26, 2020 20,750 $ 53.44 1.9 $ 1,499 Options exercisable at September 26, 2020 20,750 $ 53.44 1.9 $ 1,499 The total intrinsic value of stock options exercised during the thirty-nine-week periods ended September 26, 2020 and September 28, 2019 was $1,599,000 and $1,877,000, respectively. As of September 26, 2020, 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 and Deferred Stock Weighted Average Grant Date Fair Value Non-vested 64,808 $ 98.24 Granted 26,604 $ 111.88 Vested (28,621 ) $ 98.83 Forfeited (2,351 ) $ 106.34 Non-vested 60,440 $ 103.65 The fair value of each share of non-vested As of September 26, 2020, there was $4,074,000 of total unrecognized compensation cost related to non-vested non-vested

Income Taxes

Income Taxes	9 Months Ended
	Sep. 26, 2020
Income Taxes	(4) Income Taxes The provisions for income taxes for the 2020 and 2019 thirty-nine-week periods were each based on an estimated annual effective income tax rate of 24.2%, adjusted for discrete events, such as benefits resulting from stock-based awards. The effective income tax rate for the 2020 thirty-nine-week period was 23.3%, which was higher than the statutory federal income tax rate of 21% primarily attributable to state taxes and the meals and entertainment exclusion, partially offset by excess tax benefits realized on stock-based awards and state tax refunds. The provision for income taxes for the 2020 thirty-nine-week period was favorably impacted by $927,000 of excess tax benefits from stock-based awards. The effective income tax rate for the 2019 thirty-nine-week period was 22.8%, which was higher than the statutory federal in come tax rate of 21% primarily attributable to state taxes and the meals and entertainment

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 26, 2020
Earnings Per Share	(5) 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 in reference to the determination of diluted earnings per share, outstanding non-vested impact of For each of the thirty-nine-week periods ended September 26, 2020 and September 28, 2019, 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	9 Months Ended
	Sep. 26, 2020
Additional Cash Flow Information	(6) Additional Cash Flow Information During the 2020 thirty-nine-week period, Landstar paid income taxes and interest of $28,761,000 and $3,087,000, respectively. During the 2019 thirty-nine-week period, Landstar paid income taxes and interest of $54,877,000 and $3,302,000, respectively. Landstar acquired operating property by entering into finance leases in the amounts of $7,485,000 and $6,481,000 in the 2020 and 2019 thirty-nine-week periods, respectively. In addition, during the 2020 thirty-nine-week period, Landstar acquired $1,068,000 of operating property for which the Company accrued a corresponding liability in accounts payable as of September 26, 2020. Capital expenditures 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	9 Months Ended
	Sep. 26, 2020
Segment Information	(7) Segment Information The following table summarizes information about the Company’s reportable business segments as of and for the thirty-nine-week and thirteen week periods ended September 26, 2020 and September 28, 2019 (in thousands): Thirty Nine Weeks Ended September 26, 2020 September 28, 2019 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 2,795,056 $ 41,570 $ 2,836,626 $ 3,047,329 $ 42,369 $ 3,089,698 Internal revenue 44,912 44,912 36,978 36,978 Investment income 2,716 2,716 3,736 3,736 Operating income 148,270 20,268 168,538 200,767 31,618 232,385 Expenditures on long-lived assets 25,426 25,426 15,199 15,199 Goodwill 40,251 40,251 38,232 38,232 Thirteen Weeks Ended September 26, 2020 September 28, 2019 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,071,374 $ 14,172 $ 1,085,546 $ 997,552 $ 14,106 $ 1,011,658 Internal revenue 9,078 9,078 9,611 9,611 Investment income 714 714 1,315 1,315 Operating income 71,752 10,600 82,352 64,848 5,790 70,638 Expenditures on long-lived assets 7,750 7,750 5,975 5,975 In the thirty-nine-week periods ended September accounted

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 26, 2020
Other Comprehensive Income	(8) Other Comprehensive Income The following table presents components Unrealized Available-for-Sale Foreign Currency Total Balance as of December 28, 2019 $ 1,120 $ (3,332 ) $ (2,212 ) Other comprehensive gain (loss) 1,510 (5,262 ) (3,752 ) Balance as of September 26, 2020 $ 2,630 $ (8,594 ) $ (5,964 ) 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 thirty-nine-week period ended September 26, 2020.

Investments

Investments	9 Months Ended
	Sep. 26, 2020
Investments	(9) Investments Investments include primarily investment-grade corporate bonds and U.S. Treasury obligations 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 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 26, 2020 Money market investments $ 14,456 $ — $ — $ 14,456 Asset-backed securities 569 — 38 531 Corporate bonds and direct obligations of government agencies 101,090 3,540 289 104,341 U.S. Treasury obligations 2,337 137 — 2,474 Total $ 118,452 $ 3,677 $ 327 $ 121,802 December 28, 2019 Money market investments $ 15,691 $ — $ — $ 15,691 Asset-backed securities 572 — 1 571 Corporate bonds and direct obligations of government agencies 97,583 1,465 44 99,004 U.S. Treasury obligations 2,335 12 5 2,342 Total $ 116,181 $ 1,477 $ 50 $ 117,608 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 September 26, 2020 Asset-backed securities $ 531 $ 38 $ — $ — $ 531 $ 38 Corporate bonds and direct obligations of government agencies 4,277 289 — — 4,277 289 Total $ 4,808 $ 327 $ — $ — $ 4,808 $ 327 December 28, 2019 Asset-backed securities $ 571 $ 1 $ — $ — $ 571 $ 1 Corporate bonds and direct obligations of government agencies 8,728 41 4,260 3 12,988 44 U.S. Treasury obligations 1,226 5 — — 1,226 5 Total $ 10,525 $ 47 $ 4,260 $ 3 $ 14,785 $ 50 The Company expects to recover, through collection of all of the contractual cash flows of each security, 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, no losses have been recognized in the Company’s consolidated statements of income.

Leases

Leases	9 Months Ended
	Sep. 26, 2020
Leases	(10) 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 facilities maintained in support of the Company’s network of build-out owned trailer fleet under “month-to-month” 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 thirty nine weeks ended September 26, 2020 were (in thousands): Finance leases: Amortization of right-of-use $ 18,534 Interest on lease liability 2,447 Total finance lease cost 20,981 Operating leases: Lease cost 2,300 Variable lease cost — Sublease income (3,513 ) Total net (1,213 ) Total net $ 19,768 A summary of the lease classification on our consolidated balance sheet as of September 26, 2020 is as follows (in thousands): Assets: Operating lease right-of-use assets Other assets $ 2,391 Finance lease assets Operating property, less accumulated depreciation and amortization 140,064 Total lease assets $ 142,455 Liabilities: 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 September 26, 2020 (in thousands): Finance Leases Operating Leases 2020 Remainder $ 11,269 $ 166 2021 33,830 651 2022 24,358 653 2023 16,681 523 2024 6,742 454 Thereafter 793 154 Total future minimum lease payments 93,673 2,601 Less amount representing interest (2.1% to 4.4%) 6,380 210 Present value of minimum lease payments $ 87,293 $ 2,391 Current maturities of long-term debt 34,723 Long-term debt, excluding current maturities 52,570 Other current liabilities 640 Deferred income taxes and other noncurrent liabilities 1,751 The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of September 26, 2020 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.0 4.2 Weighted average discount rate 3.2 % 4.0 %

Debt

Debt	9 Months Ended
	Sep. 26, 2020
Debt	(11) Debt Other than the finance lease obligations as presented on the consolidated balance sheets, the Company had no outstanding debt as of September 26, 2020 and December 28, 2019. On June 2, 2016, Landstar entered into a credit agreement with a syndicate of banks and JPMorgan Chase Bank, N.A., as administrative agent, which was amended and restated on August 18, 2020 to extend the maturity date to August 2023 and amend certain other terms (as so amended and restated, the “Credit Agreement”). The Credit Agreement provides $250,000,000 of borrowing capacity in the form of a revolving credit facility, $35,000,000 of which may be utilized in the form of letters of credit. The Credit Agreement includes an “accordion” feature providing for a possible increase up to an aggregate borrowing capacity of $400,000,000. The revolving credit loans under the Credit Agreement, at the option of Landstar, bear interest at (i) the Eurocurrency rate plus an applicable margin ranging from 1.25% to 2.00%, or (ii) an alternate base rate plus an applicable margin ranging from 0.25% to 1.00%, in each case with the applicable margin determined based upon the Company’s Leverage Ratio, as defined in the Credit Agreement, at the end of the most recent applicable fiscal quarter for which financial statements have been delivered. The revolving credit facility bears a commitment fee, payable quarterly in arrears, of 0.25% to 0.35%, based on the Company’s Leverage Ratio at the end of the most recent applicable fiscal quarter for which financial statements have been delivered. As of September 26, 2020 and December 28, 2019, the Company had no borrowings outstanding under the Credit Agreement. The Credit Agreement contains a number of covenants that limit, among other things, the incurrence of additional indebtedness. The Company is required to, among other things, maintain a minimum Fixed Charge Coverage Ratio, as defined in the Credit Agreement, and maintain a Leverage Ratio, as defined in the Credit Agreement, below a specified maximum. The Credit Agreement provides for a restriction on cash dividends and other distributions to stockholders on the Company’s capital stock to the extent there is a default under the Credit Agreement. In addition, the Credit Agreement under certain circumstances limits the amount of such cash dividends and other distributions to stockholders to the extent that, after giving effect to any payment made to effect such cash dividend or other distribution, the Leverage Ratio would exceed 2.5 The interest rates on borrowings under the revolving credit facility are typically tied to short-term interest rates that adjust monthly and, as such, carrying value approximates fair value. Interest rates on borrowings under finance leases approximate the interest rates that would currently be available to the Company under similar terms and, as such, carrying value approximates fair value.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 26, 2020
Commitments and Contingencies	(12) Commitments and Contingencies Short-term investments include $39,068,000 in current maturities of investments held by the Company’s insurance segment at September 26, 2020. The non-current non-current 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	9 Months Ended
	Sep. 26, 2020
Change in Accounting Estimate for Self-Insured Claims	(1 3 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 thirty-nine-week and thirteen-week periods ended September 26, 2020 and September 28, 2019 (in thousands, except per share amounts): Thirty Nine Weeks Ended Thirteen Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Operating income $ 6,162 $ 9,497 $ 1,123 $ 6,597 Net income attributable to Landstar System, Inc. and subsidiary $ 4,671 $ 7,199 $ 851 $ 5,001 Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.12 $ 0.18 $ 0.02 $ 0.13 Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.12 $ 0.18 $ 0.02 $ 0.13 The unfavorable development thirty

Impairment of Intangible and Ot

Impairment of Intangible and Other Assets	9 Months Ended
	Sep. 26, 2020
Impairment of Intangible and Other Assets	(14) Impairment of Intangible and Other Assets During the 2020 second fiscal quarter, the Company recorded a non-cash 10-Q

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 26, 2020
Recent Accounting Pronouncements	(1 5 Recent Accounting Pronouncements Adoption of New Accounting Standards 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

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 26, 2020
Subsequent Events [Abstract]
Subsequent Event	(1 6 Subsequent Event In October 2020, the Company announced a new initiative in support of its BCO Independent Contractor network relating to its regional field operations centers located in the United States and Canada. It is the intent of the Company that this network of field operations centers will further support the Company’s efforts in recruiting and retaining BCO Independent Contractors. In connection with this initiative, the Company expects to record a provision of approximately $ during the 2020 fourth fiscal quarter relating to anticipated buyouts of certain incentive commission arrangements with several of its independent commission sales agents due to the Company’s discontinuation of a BCO recruitment and retention program that involved those agents.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 26, 2020
Revenue from Contracts with Customers – Disaggregation of Revenue	Revenue from Contracts with Customers – Disaggregation of Revenue The following table summarizes the percentage of consolidated revenue generated by mode of transportation dollars Thirty Nine Weeks Ended Thirteen Weeks Ended Mode September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 BCO Independent Contractors – 46 % 45 % 46 % 46 % Brokerage Carriers - 46 % 47 % 46 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 3 % 3 % 3 % 3 % Equipment Type - Truck Van equipment $ 1,694,916 $ 1,799,421 $ 666,582 $ 575,042 Unsided/platform equipment $ 848,187 $ 980,615 $ 314,471 $ 331,787 Less-than-truckload $ 70,984 $ 73,475 $ 25,125 $ 25,367

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 26, 2020
Schedule of Disaggregation of Revenue	The following table summarizes the percentage of consolidated revenue generated by mode of transportation dollars Thirty Nine Weeks Ended Thirteen Weeks Ended Mode September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 BCO Independent Contractors – 46 % 45 % 46 % 46 % Brokerage Carriers - 46 % 47 % 46 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 3 % 3 % 3 % 3 % Equipment Type - Truck Van equipment $ 1,694,916 $ 1,799,421 $ 666,582 $ 575,042 Unsided/platform equipment $ 848,187 $ 980,615 $ 314,471 $ 331,787 Less-than-truckload $ 70,984 $ 73,475 $ 25,125 $ 25,367

Share-based Payment Arrangeme_2

Share-based Payment Arrangements (Tables)	9 Months Ended
	Sep. 26, 2020
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): Thirty Nine Weeks Ended Thirteen Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Total cost of the Plans during the period $ 2,691 $ 4,470 $ 1,490 $ 1,102 Amount of related income tax benefit recognized during the period (1,618 ) (4,125 ) (483 ) (391 ) Net cost of the Plans during the period $ 1,073 $ 345 $ 1,007 $ 711
Summary of Information Regarding Stock Options	The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Options Weighted Average per Share Weighted Average Remaining Term (years) Aggregate Intrinsic Value (000s) Options outstanding at December 28, 2019 44,467 $ 51.24 Exercised (23,717 ) $ 49.31 Options outstanding at September 26, 2020 20,750 $ 53.44 1.9 $ 1,499 Options exercisable at September 26, 2020 20,750 $ 53.44 1.9 $ 1,499
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 Outstanding at December 28, 2019 198,875 $ 84.37 Granted 59,719 $ 102.62 Shares earned in excess of target (1) 11,648 $ 77.00 Vested shares, including shares earned in excess of target (76,290 ) $ 73.44 Forfeited (10,987 ) $ 100.55 Outstanding at September 26, 2020 182,965 $ 93.44 (1) Represents additional shares earned under the February 2, 2017 RSU awards as 2019 financial results exceeded target performance level.
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 64,808 $ 98.24 Granted 26,604 $ 111.88 Vested (28,621 ) $ 98.83 Forfeited (2,351 ) $ 106.34 Non-vested 60,440 $ 103.65

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 26, 2020
Information Regarding Reportable Business Segments	The following table summarizes information about the Company’s reportable business segments as of and for the thirty-nine-week and thirteen week periods ended September 26, 2020 and September 28, 2019 (in thousands): Thirty Nine Weeks Ended September 26, 2020 September 28, 2019 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 2,795,056 $ 41,570 $ 2,836,626 $ 3,047,329 $ 42,369 $ 3,089,698 Internal revenue 44,912 44,912 36,978 36,978 Investment income 2,716 2,716 3,736 3,736 Operating income 148,270 20,268 168,538 200,767 31,618 232,385 Expenditures on long-lived assets 25,426 25,426 15,199 15,199 Goodwill 40,251 40,251 38,232 38,232 Thirteen Weeks Ended September 26, 2020 September 28, 2019 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,071,374 $ 14,172 $ 1,085,546 $ 997,552 $ 14,106 $ 1,011,658 Internal revenue 9,078 9,078 9,611 9,611 Investment income 714 714 1,315 1,315 Operating income 71,752 10,600 82,352 64,848 5,790 70,638 Expenditures on long-lived assets 7,750 7,750 5,975 5,975

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 26, 2020
Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes	The following table presents components Unrealized Available-for-Sale Foreign Currency Total Balance as of December 28, 2019 $ 1,120 $ (3,332 ) $ (2,212 ) Other comprehensive gain (loss) 1,510 (5,262 ) (3,752 ) Balance as of September 26, 2020 $ 2,630 $ (8,594 ) $ (5,964 )

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 26, 2020
Amortized Cost and Fair Value of Available-for-Sale Investments	The amortized cost and fair values of available-for-sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 26, 2020 Money market investments $ 14,456 $ — $ — $ 14,456 Asset-backed securities 569 — 38 531 Corporate bonds and direct obligations of government agencies 101,090 3,540 289 104,341 U.S. Treasury obligations 2,337 137 — 2,474 Total $ 118,452 $ 3,677 $ 327 $ 121,802 December 28, 2019 Money market investments $ 15,691 $ — $ — $ 15,691 Asset-backed securities 572 — 1 571 Corporate bonds and direct obligations of government agencies 97,583 1,465 44 99,004 U.S. Treasury obligations 2,335 12 5 2,342 Total $ 116,181 $ 1,477 $ 50 $ 117,608
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 September 26, 2020 Asset-backed securities $ 531 $ 38 $ — $ — $ 531 $ 38 Corporate bonds and direct obligations of government agencies 4,277 289 — — 4,277 289 Total $ 4,808 $ 327 $ — $ — $ 4,808 $ 327 December 28, 2019 Asset-backed securities $ 571 $ 1 $ — $ — $ 571 $ 1 Corporate bonds and direct obligations of government agencies 8,728 41 4,260 3 12,988 44 U.S. Treasury obligations 1,226 5 — — 1,226 5 Total $ 10,525 $ 47 $ 4,260 $ 3 $ 14,785 $ 50

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 26, 2020
Lease, Cost [Table Text Block]	The components of lease cost for finance leases and operating leases for the thirty nine weeks ended September 26, 2020 were (in thousands): Finance leases: Amortization of right-of-use $ 18,534 Interest on lease liability 2,447 Total finance lease cost 20,981 Operating leases: Lease cost 2,300 Variable lease cost — Sublease income (3,513 ) Total net (1,213 ) Total net $ 19,768
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 September 26, 2020 is as follows (in thousands): Assets: Operating lease right-of-use assets Other assets $ 2,391 Finance lease assets Operating property, less accumulated depreciation and amortization 140,064 Total lease assets $ 142,455
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 September 26, 2020 (in thousands): Finance Leases Operating Leases 2020 Remainder $ 11,269 $ 166 2021 33,830 651 2022 24,358 653 2023 16,681 523 2024 6,742 454 Thereafter 793 154 Total future minimum lease payments 93,673 2,601 Less amount representing interest (2.1% to 4.4%) 6,380 210 Present value of minimum lease payments $ 87,293 $ 2,391 Current maturities of long-term debt 34,723 Long-term debt, excluding current maturities 52,570 Other current liabilities 640 Deferred income taxes and other noncurrent liabilities 1,751
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 September 26, 2020 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.0 4.2 Weighted average discount rate 3.2 % 4.0 %

Change in Accounting Estimate_2

Change in Accounting Estimate for Self-Insured Claims (Tables)	9 Months Ended
	Sep. 26, 2020
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 thirty-nine-week and thirteen-week periods ended September 26, 2020 and September 28, 2019 (in thousands, except per share amounts): Thirty Nine Weeks Ended Thirteen Weeks Ended September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Operating income $ 6,162 $ 9,497 $ 1,123 $ 6,597 Net income attributable to Landstar System, Inc. and subsidiary $ 4,671 $ 7,199 $ 851 $ 5,001 Earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.12 $ 0.18 $ 0.02 $ 0.13 Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.12 $ 0.18 $ 0.02 $ 0.13

Schedule Of Revenue By Major Cu

Schedule Of Revenue By Major Customers By Reporting Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 1,085,546	$ 1,011,658	$ 2,836,626	$ 3,089,698
BCO Independent Contractor - Truck
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	46.00%	46.00%	46.00%	45.00%
Brokerage Carriers - Truck
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	46.00%	46.00%	46.00%	47.00%
Rail Intermodal
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	3.00%	3.00%	3.00%	3.00%
Ocean and air cargo carriers
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	3.00%	3.00%	3.00%	3.00%
BCO Independent Contractor Truck and Brokerage Carriers Truck | Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 666,582	$ 575,042	$ 1,694,916	$ 1,799,421
BCO Independent Contractor Truck and Brokerage Carriers Truck | Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	314,471	331,787	848,187	980,615
BCO Independent Contractor Truck and Brokerage Carriers Truck | Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	$ 25,125	$ 25,367	$ 70,984	$ 73,475

Acquired Business - Additional

Acquired Business - Additional Information (Detail) - USD ($)	Jun. 15, 2020	Sep. 26, 2020
Purchase consideration	$ 2,766,000	$ 2,766,000
Business combination, recognized identifiable assets acquired and liabilities assumed, liabilities	200,000
Goodwill Purchase	$ 2,871,000
Income tax rate deduction	100.00%

Share-based Payment Arrangeme_3

Share-based Payment Arrangements - Additional Information (Detail)	9 Months Ended
	Sep. 26, 2020USD ($)Equityplanshares	Sep. 28, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employee equity incentive plans | Equityplan	2
Excess tax benefit from stock-based awards	$ 927,000	$ 2,968,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation (benefit)/expense	415,000	2,477,000
Unrecognized compensation cost, other than options	$ 34,600,000
Unrecognized compensation cost expected to be recognized over period, years	3 years 1 month 6 days
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	$ 4,074,000
Unrecognized compensation cost expected to be recognized over period, years	1 year 10 months 24 days
Terms of award	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
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised during periods	$ 1,599,000	$ 1,877,000
Maximum | Restricted Stock Units (RSUs) | Prior to 2015 grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of target available for common share issuance	100.00%
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	60,586
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	3,675,862

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 1,490	$ 1,102	$ 2,691	$ 4,470
Amount of related income tax benefit recognized during the period	(483)	(391)	(1,618)	(4,125)
Net cost of the Plans during the period	$ 1,007	$ 711	$ 1,073	$ 345

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 26, 2020$ / sharesshares
Number of Shares
Beginning Balance | shares	198,875
Granted | shares	59,719
Shares earned in excess of target | shares	11,648
Vested shares, including shares earned in excess of target | shares	(76,290)
Forfeited | shares	(10,987)
Ending Balance | shares	182,965
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 84.37
Granted | $ / shares	102.62
Shares earned in excess of target | $ / shares	77
Vested shares, including shares earned in excess of target | $ / shares	73.44
Forfeited | $ / shares	100.55
Ending Balance | $ / shares	$ 93.44

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)$ / sharesshares
Number of Options
Beginning Balance, number of options | shares	44,467
Exercised, number of options | shares	(23,717)
Ending Balance, number of options | shares	20,750
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share | $ / shares	$ 51.24
Exercised, Weighted Average Exercise Price per Share | $ / shares	49.31
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	$ 53.44
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options | shares	20,750
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share | $ / shares	$ 53.44
Weighted Average Remaining Contractual Term (years)
Options outstanding at June 27, 2020	1 year 10 months 24 days
Options exercisable at June 27, 2020	1 year 10 months 24 days
Aggregate Intrinsic Value
Options outstanding at June 27, 2020 | $	$ 1,499
Options exercisable at June 27, 2020 | $	$ 1,499

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	9 Months Ended
	Sep. 26, 2020$ / sharesshares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	64,808
Granted | shares	26,604
Vested | shares	(28,621)
Forfeited | shares	(2,351)
Ending Balance | shares	60,440
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 98.24
Granted | $ / shares	111.88
Vested | $ / shares	98.83
Forfeited | $ / shares	106.34
Ending Balance | $ / shares	$ 103.65

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Income Taxes [Line Items]
Corporate income tax rate	21.00%	21.00%
Excess tax benefit from stock-based awards	$ 927,000	$ 2,968,000
Estimated annual effective income tax rate	24.20%	24.20%
Effective income tax rate	23.30%	22.80%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
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 ($)	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 28,761,000	$ 54,877,000
Acquired operating property by accruing in accounts payable	1,068,000
Interest paid	3,087,000	3,302,000
Capital Lease Obligations Incurred	$ 7,485,000	$ 6,481,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Segment Reporting Information [Line Items]
External revenue	$ 1,085,546	$ 1,011,658	$ 2,836,626	$ 3,089,698
Internal revenue	9,078	9,611	44,912	36,978
Investment income	714	1,315	2,716	3,736
Operating income	82,352	70,638	168,538	232,385
Expenditures on long-lived assets	7,750	5,975	25,426	15,199
Goodwill	40,251	38,232	40,251	38,232	$ 38,508
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,071,374	997,552	2,795,056	3,047,329
Operating income	71,752	64,848	148,270	200,767
Expenditures on long-lived assets	7,750	5,975	25,426	15,199
Goodwill	40,251	38,232	40,251	38,232
Insurance
Segment Reporting Information [Line Items]
External revenue	14,172	14,106	41,570	42,369
Internal revenue	9,078	9,611	44,912	36,978
Investment income	714	1,315	2,716	3,736
Operating income	$ 10,600	$ 5,790	$ 20,268	$ 31,618

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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 649,121		$ 721,469
Other comprehensive loss	1,181	$ (776)	(3,752)	$ 2,154
Ending Balance	705,634		705,634
Unrealized Holding (Losses) Gains on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			1,120
Other comprehensive loss			1,510
Ending Balance	2,630		2,630
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(3,332)
Other comprehensive loss			(5,262)
Ending Balance	(8,594)		(8,594)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(7,145)		(2,212)
Other comprehensive loss			(3,752)
Ending Balance	$ (5,964)		$ (5,964)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 26, 2020	Dec. 28, 2019
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	$ 3,350,000	$ 1,427,000

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 118,452	$ 116,181
Gross Unrealized Gains	3,677	1,477
Gross Unrealized Losses	327	50
Fair Value	121,802	117,608
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,456	15,691
Fair Value	14,456	15,691
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	569	572
Gross Unrealized Losses	38	1
Fair Value	531	571
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	101,090	97,583
Gross Unrealized Gains	3,540	1,465
Gross Unrealized Losses	289	44
Fair Value	104,341	99,004
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,337	2,335
Gross Unrealized Gains	137	12
Gross Unrealized Losses		5
Fair Value	$ 2,474	$ 2,342

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 4,808	$ 10,525
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	327	47
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		4,260
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		3
Available-for-sale investments with unrealized losses, Fair Value, Total	4,808	14,785
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	327	50
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	531	571
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	38	1
Available-for-sale investments with unrealized losses, Fair Value, Total	531	571
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	38	1
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	4,277	8,728
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	289	41
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		4,260
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		3
Available-for-sale investments with unrealized losses, Fair Value, Total	4,277	12,988
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 289	44
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value		1,226
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss		5
Available-for-sale investments with unrealized losses, Fair Value, Total		1,226
Available-for-sale investments with unrealized losses, Unrealized Loss, Total		$ 5

Leases - Additional Information

Leases - Additional Information (Detail)	Sep. 26, 2020USD ($)
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	9 Months Ended
	Sep. 26, 2020USD ($)
Finance leases:
Amortization of right-of-use assets	$ 18,534
Interest on lease liability	2,447
Total finance lease cost	20,981
Operating leases:
Lease cost	2,300
Sublease income	(3,513)
Total net operating lease income	(1,213)
Total net lease cost	$ 19,768

Leases - Classification on our

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Sep. 26, 2020USD ($)
Total lease assets	$ 142,455
Other Assets [Member]
Operating lease right-of-use assets	2,391
Property Plant and Equipment Net [Member]
Finance lease assets	$ 140,064

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Operating Leased Assets [Line Items]
2020 Remainder	$ 11,269
2021	33,830
2022	24,358
2023	16,681
2024	6,742
Thereafter	793
Total future minimum lease payments	93,673
Less amount representing interest (2.1% to 4.4%)	6,380
Present value of minimum lease payments	87,293
Current maturities of long-term debt	34,723	$ 42,632
Long-term debt, excluding current maturities	52,570	$ 70,212
2020 Remainder	166
2021	651
2022	653
2023	523
2024	454
Thereafter	154
Total future minimum lease payments	2,601
Less amount representing interest (2.1% to 4.4%)	210
Present value of minimum lease payments	2,391
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	640
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 1,751

Leases - Undiscounted Cash Fl_2

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Sep. 26, 2020
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)	Sep. 26, 2020
Weighted average remaining lease term (years)	3 years
Weighted average discount rate	3.20%
Weighted average remaining lease term (years)	4 years 2 months 12 days
Weighted average discount rate	4.00%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jun. 02, 2016	Sep. 26, 2020	Dec. 28, 2019
Debt Instrument [Line Items]
Debt Outstanding Excluding Capital Lease Obligations		$ 0	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, initiation date	Jun. 2, 2016
Credit facility, borrowing capacity		250,000,000
Credit facility, maximum borrowing capacity		400,000,000
Borrowings outstanding		$ 0	$ 0
Credit facility, debt covenants compliance		The Company is currently in compliance with all of the debt covenants under the Credit Agreement
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Credit facility, unused credit commitment fee		0.25%
Credit facility event of default, minimum percentage that a person or group should acquire outstanding capital stock		35.00%
Revolving Credit Facility | Minimum | Eurodollar [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate		1.25%
Revolving Credit Facility | Minimum | Base Rate [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate		0.25%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Credit facility, unused credit commitment fee		0.35%
Maximum Leverage ratio beyond which amount of cash dividends and other distributions to stockholders is limited		250.00%
Revolving Credit Facility | Maximum | Eurodollar [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate		2.00%
Revolving Credit Facility | Maximum | Base Rate [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate		1.00%
Letter of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 35,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Sep. 26, 2020USD ($)
Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 39,068,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	82,734,000
Non-Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	26,969,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	33,618,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 59,434,000

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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Change in Accounting Estimate [Line Items]
Operating income	$ 82,352	$ 70,638	$ 168,538	$ 232,385
Net income attributable to Landstar System, Inc. and subsidiary	$ 61,886	$ 53,255	$ 127,035	$ 177,672
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.61	$ 1.35	$ 3.28	$ 4.45
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 1.61	$ 1.35	$ 3.28	$ 4.45
Development of Prior Year Self Insured Claims Estimates
Change in Accounting Estimate [Line Items]
Operating income	$ 1,123	$ 6,597	$ 6,162	$ 9,497
Net income attributable to Landstar System, Inc. and subsidiary	$ 851	$ 5,001	$ 4,671	$ 7,199
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.02	$ 0.13	$ 0.12	$ 0.18
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.02	$ 0.13	$ 0.12	$ 0.18

Impairment of Intangible and _2

Impairment of Intangible and Other Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 27, 2020	Sep. 26, 2020
Impairment charges of intangible asset	$ 2,582	$ 2,582

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($)	Dec. 29, 2019	Mar. 28, 2020
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards (Note 15)	$ (702,000)	$ (702,000)

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail)	1 Months Ended
	Oct. 31, 2020USD ($)
Subsequent Event [Line Items]
Restructuring Charges	$ 15,000,000