Landstar System (LSTR) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 27, 2021	Apr. 19, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-25
Document Period End Date	Mar. 27, 2021
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		38,408,570
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	Mar. 27, 2021	Dec. 26, 2020
Current Assets
Cash and cash equivalents	$ 219,389	$ 249,354
Short-term investments	41,407	41,375
Trade accounts receivable, less allowance of $7,095 and $8,670	824,872	764,169
Other receivables, including advances to independent contractors, less allowance of $6,711 and $7,239	40,067	134,757
Other current assets	11,584	18,520
Total current assets	1,137,319	1,208,175
Operating property, less accumulated depreciation and amortization of $309,464 and $299,407	288,041	296,996
Goodwill	40,732	40,949
Other assets	108,373	107,679
Total assets	1,574,465	1,653,799
Current Liabilities
Cash overdraft	74,754	74,748
Accounts payable	414,440	380,505
Current maturities of long-term debt	32,800	35,415
Insurance claims	39,229	149,774
Dividends payable		76,770
Other current liabilities	101,442	88,925
Total current liabilities	662,665	806,137
Long-term debt, excluding current maturities	58,196	65,359
Insurance claims	39,850	38,867
Deferred income taxes and other noncurrent liabilities	50,835	51,601
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,212,296 and 68,183,702 shares	682	682
Additional paid-in capital	232,597	228,875
Retained earnings	2,115,411	2,046,238
Cost of 29,803,726 and 29,797,639 shares of common stock in treasury	(1,582,818)	(1,581,961)
Accumulated other comprehensive loss	(2,953)	(1,999)
Total shareholders' equity	762,919	691,835
Total liabilities and shareholders' equity	$ 1,574,465	$ 1,653,799

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 27, 2021	Dec. 26, 2020
Allowance on trade accounts receivable	$ 7,095	$ 8,670
Allowance on other receivables	6,711	7,239
Accumulated depreciation and amortization on operating property	$ 309,464	$ 299,407
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,212,296	68,183,702
Treasury stock, shares	29,803,726	29,797,639

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Revenue	$ 1,287,534	$ 927,566
Investment income	684	1,167
Costs and expenses:
Purchased transportation	998,285	709,257
Commissions to agents	100,009	75,376
Other operating costs, net of gains on asset sales/dispositions	7,642	8,306
Insurance and claims	21,505	24,957
Selling, general and administrative	45,408	45,327
Depreciation and amortization	12,101	11,505
Total costs and expenses	1,184,950	874,728
Operating income	103,268	54,005
Interest and debt expense	1,042	952
Income before income taxes	102,226	53,053
Income taxes	24,986	12,158
Net income	$ 77,240	$ 40,895
Diluted earnings per share	$ 2.01	$ 1.04
Average diluted shares outstanding	38,404,000	39,254,000
Dividends per common share	$ 0.210	$ 0.185

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Net income	$ 77,240	$ 40,895
Other comprehensive loss:
Unrealized holding losses on available-for-sale investments, net of tax benefits of $147 and $432	(534)	(1,579)
Foreign currency translation losses	(420)	(7,902)
Other comprehensive loss	(954)	(9,481)
Comprehensive income	$ 76,286	$ 31,414

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Unrealized holding losses on available-for-sale investments, net of tax benefit	$ 147	$ 432

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
OPERATING ACTIVITIES
Net income	$ 77,240	$ 40,895
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	12,101	11,505
Non-cash interest charges	112	63
Provisions for losses on trade and other accounts receivable	547	4,122
Gains on sales/disposals of operating property	(24)	(858)
Deferred income taxes, net	(1,110)	797
Stock-based compensation	4,029	631
Changes in operating assets and liabilities:
Decrease in trade and other accounts receivable	33,440	21,369
Decrease in other assets	6,175	9,987
Increase in accounts payable	33,935	179
Increase in other liabilities	13,008	4,404
(Decrease) increase in insurance claims	(109,562)	6,122
NET CASH PROVIDED BY OPERATING ACTIVITIES	69,891	99,216
INVESTING ACTIVITIES
Net changes in other short-term investments		131
Sales and maturities of investments	7,957	7,963
Purchases of investments	(8,716)	(8,830)
Purchases of operating property	(4,076)	(5,799)
Proceeds from sales of operating property	500	2,081
NET CASH USED BY INVESTING ACTIVITIES	(4,335)	(4,454)
FINANCING ACTIVITIES
Increase (decrease) in cash overdraft	6	(17,876)
Dividends paid	(84,837)	(86,283)
Proceeds from exercises of stock options	77	575
Taxes paid in lieu of shares issued related to stock-based compensation plans	(1,241)	(2,994)
Purchases of common stock		(115,962)
Principal payments on finance lease obligations	(9,778)	(10,923)
NET CASH USED BY FINANCING ACTIVITIES	(95,773)	(233,463)
Effect of exchange rate changes on cash and cash equivalents	252	(3,590)
Decrease in cash and cash equivalents	(29,965)	(142,291)
Cash and cash equivalents at beginning of period	249,354	319,515
Cash and cash equivalents at end of period	$ 219,389	$ 177,224

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
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 (Accounting Standards Update 2016-13) at Dec. 28, 2019	(702)			(702)
Net income	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. 26, 2020		68,183,702			29,797,639
Beginning Balance at Dec. 26, 2020	691,835	$ 682	228,875	2,046,238	$ (1,581,961)	(1,999)
Net income	77,240			77,240
Dividends	(8,067)			(8,067)
Issuance of stock related to stock-based compensation plans (in shares)		28,594			6,087
Issuance of stock related to stock-based compensation plans	(1,164)		(307)		$ (857)
Stock-based compensation	4,029		4,029
Other comprehensive (loss) income	(954)					(954)
Ending Balance (in shares) at Mar. 27, 2021		68,212,296			29,803,726
Ending Balance at Mar. 27, 2021	$ 762,919	$ 682	$ 232,597	$ 2,115,411	$ (1,582,818)	$ (2,953)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Dividends per common share	$ 0.210	$ 0.185

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 27, 2021
Significant Accounting Policies	(1) Significant Accounting Policies Revenue from Contracts with Customers – Disaggregation of Revenue The following table summarizes (i) the percentage of consolidated revenue generated by mode of transportation and (ii) the total amount of truck transportation revenue hauled by BCO Independent Contractors and Truck Brokerage Carriers March 27, 2021 March 28, 2020 Thirteen Weeks Ended March 27, 2021 March 28, 2020 Mode Truck – BCO Independent Contractors 44 % 46 % Truck – Truck Brokerage Carriers 49 % 46 % Rail intermodal 2 % 3 % Ocean and air cargo carriers 4 % 3 % Truck Equipment Type Van equipment $ 827,187 $ 545,307 Unsided/platform equipment $ 340,632 $ 286,328 Less-than-truckload $ 25,670 $ 22,941

Share-based Payment Arrangement

Share-based Payment Arrangements	3 Months Ended
	Mar. 27, 2021
Share-based Payment Arrangements	(2) Share-based Payment Arrangements As of March 27, 2021, 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 and no stock options previously granted under the ESOSIP are unvested or unexercised as of March 27, 2021. 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”). shares of the Company’s common stock were authorized for issuance under the 2011 EIP and shares of the Company’s common stock were authorized for issuance under the 2013 DSCP. The ESOSIP, 2011 EIP and 2013 DSCP are each referred to herein as a “Plan,” and, collectively, as the “Plans.” Thirteen Weeks Ended March 27, 2021 March 28, 2020 Total cost of the Plans during the period $ 4,029 $ 631 Amount of related income tax benefit recognized during the period (1,341 ) (873 ) Net cost of the Plans during the period $ 2,688 $ (242 ) Included in income tax benefits recognized in the thirteen-week periods ended March 27, 2021 and March 28, 2020 were excess tax benefits from stock-based awards of $343,000 and $706,000, respectively. As of March 27, 2021, there were 60,586 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,521,140 shares of the Company’s common stock reserved for issuance under the 2011 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 Fair Value Outstanding at December 26, 2020 183,213 $ 93.44 Granted 45,707 $ 129.03 Vested shares (9,247 ) $ 106.14 Outstanding at March 27, 2021 219,673 $ 100.31 During the thirteen-week period ended March 27, 2021, the Company granted RSUs with a performance condition. Outstanding RSUs at both December 26, 2020 and March 27, 2021 include RSUs with a performance condition and RSUs with a market condition, as further described below and in the Company’s 2020 Annual Report on Form 10-K. RSUs with a performance condition granted on January 29, 2021 may vest on January 31 of 2024, 2025 and 2026 based on growth in operating income and pre-tax non-cash The Company recognized approximately $3,223,000 and ($136,000) of share-based compensation expense/(benefit) related to RSU awards in the thirteen-week periods ended March 27, 2021 March 27, 2021 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 60,440 $ 103.65 Granted 18,078 $ 140.97 Vested (21,733 ) $ 103.39 Non-vested 56,785 $ 115.63 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. Stock Units granted under the Plans. The unrecognized compensation cost related to these non-vested shares of restricted stock and Deferred Stock Units is expected to be recognized over a weighted average period of 2.4 years. Stock Options The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Average Weighted Average Term (years) Aggregate Intrinsic Options outstanding at December 26, 2020 17,650 $ 54.16 Exercised (5,280 ) $ 51.83 Options outstanding at March 27, 2021 12,370 $ 55.15 1.6 $ 1,411 Options exercisable at March 27, 2021 12,370 $ 55.15 1.6 $ 1,411 The total intrinsic value of stock options exercised during the thirteen-week periods ended March 27, 2021 and March 28, 2020 was $521,000 and $1,023,000, respectively. As of March 27, 2021, there was no unrecognized compensation cost related to stock options granted under the Plans.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 27, 2021
Income Taxes	(3) Income Taxes The provisions for income taxes for the 2021 and 2020 thirteen-week periods were based on estimated annual effective income tax rates of 24.4% and 24.2%, respectively, adjusted for discrete events, such as benefits resulting from stock-based awards. The increase in the estimated annual effective income tax rate was primarily attributable to increased anticipated nondeductible executive compensation during the 2021 period. The effective income tax rate for the 2021 thirteen-week period was 24.4%, which was higher than the statutory federal income tax rate of 21% primarily attributable to state taxes and non-deductible

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 27, 2021
Earnings Per Share	(4) Earnings Per Share Earnings per common share are based on the weighted average number of shares outstanding, including outstanding non-vested non-vested For each of the thirteen-week periods ended March 27, 2021 and March 28, 2020, no options outstanding to purchase shares of common stock were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share for all periods because the performance metric requirements or market condition for vesting had not been satisfied.

Additional Cash Flow Informatio

Additional Cash Flow Information	3 Months Ended
	Mar. 27, 2021
Additional Cash Flow Information	(5) Additional Cash Flow Information During the 2021 thirteen-week period, Landstar paid income taxes and interest of $353,000 and $983,000, respectively. During the 2020 thirteen-week period, Landstar paid income taxes and interest of $7,000 and $1,079,000, respectively. Landstar did not acquire any operating property by entering into finance leases in either the 2021 or 2020 thirteen-week periods.

Segment Information

Segment Information	3 Months Ended
	Mar. 27, 2021
Segment Information	(6) Segment Information The following table summarizes information about the Company’s reportable business segments as of and for the thirteen-week periods ended March 27, 2021 and March 28, 2020 (in thousands): Thirteen Weeks Ended March 27, 2021 March 28, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,270,499 $ 17,035 $ 1,287,534 $ 913,884 $ 13,682 $ 927,566 Internal revenue 9,534 9,534 9,079 9,079 Investment income 684 684 1,167 1,167 Operating income 89,732 13,536 103,268 55,044 (1,039 ) 54,005 Expenditures on long-lived assets 4,076 4,076 5,799 5,799 Goodwill 40,732 40,732 37,182 37,182 In the thirteen-week periods ended March 27, 2021 and March 28, 2020, no single customer accounted for more than 10% of the Company’s consolidated revenue.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 27, 2021
Other Comprehensive Income	(7) Other Comprehensive Income The following table presents the components of and changes in accumulated other comprehensive income (loss), net of related income taxes, as of and for the thirteen-week period ended March 27, 2021 (in thousands): Unrealized Available-for-Sale Foreign Total Balance as of December 26, 2020 $ 2,808 $ (4,807 ) $ (1,999 ) Other comprehensive loss (534 ) (420 ) (954 ) Balance as of March 27, 2021 $ 2,274 $ (5,227 ) $ (2,953 ) Amounts reclassified from accumulated other comprehensive income to investment income due to the realization of previously unrealized gains and losses in the accompanying consolidated statements of income were not significant for the thirteen-week period ended March 27, 2021.

Investments

Investments	3 Months Ended
	Mar. 27, 2021
Investments	(8) 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, bond portfolio was determined using Level 1 inputs related to U.S. Treasury obligations and money market investments and Level 2 inputs related to The amortized cost and fair values of available-for-sale Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 27, 2021 Money market investments $ 14,731 $ — $ — $ 14,731 Asset-backed securities 566 — 11 555 Corporate bonds and direct obligations of government agencies 102,075 2,950 144 104,881 U.S. Treasury obligations 2,339 102 — 2,441 Total $ 119,711 $ 3,052 $ 155 $ 122,608 December 26, 2020 Money market investments $ 17,867 $ — $ — $ 17,867 Asset-backed securities 567 — 26 541 Corporate bonds and direct obligations of government agencies 98,241 3,551 72 101,720 U.S. Treasury obligations 2,338 125 — 2,463 Total $ 119,013 $ 3,676 $ 98 $ 122,591 For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 27, 2021 Asset-backed securities $ — $ — $ 555 $ 11 $ 555 $ 11 Corporate bonds and direct obligations of government agencies 8,596 123 1,255 21 9,851 144 Total $ 8,596 $ 123 $ 1,810 $ 32 $ 10,406 $ 155 December 26, 2020 Asset-backed securities $ 541 $ 26 $ — $ — $ 541 $ 26 Corporate bonds and direct obligations of government agencies 2,681 72 — — 2,681 72 Total $ 3,222 $ 98 $ — $ — $ 3,222 $ 98 The Company believes unrealized losses on investments were primarily caused by rising interest rates rather than changes in credit quality. The Company expects to recover, 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	3 Months Ended
	Mar. 27, 2021
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 build-out “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 thirteen weeks ended March 27, 2021 were (in thousands): Finance leases: Amortization of right-of-use $ 5,478 Interest on lease liability 727 Total finance lease cost 6,205 Operating leases: Lease cost 846 Variable lease cost — Sublease income (1,190 ) Total net operating lease income (344 ) Total net lease cost $ 5,861 A summary of the lease classification on our consolidated balance sheet as of March 27, 2021 is as follows (in thousands): Assets: Operating lease right-of-use Other assets $ 2,440 Finance lease assets Operating property, less accumulated depreciation and amortization 131,470 Total lease assets $ 133,910 Liabiliti e 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 March 27, 2021 (in thousands) : Finance Leases Operating Leases 2021 Remainder $ 27,426 $ 564 2022 28,753 686 2023 21,742 600 2024 11,827 516 2025 5,580 275 Thereafter — — Total future minimum lease paym e nts 95,328 2,641 Less amount representing interest (1.9% to 4.4%) 4,332 201 Present value of minimum lease payments $ 90,996 $ 2,440 Current maturities of long-term debt 32,800 Long-term debt, excluding current maturities 58,196 Other current liabilities 728 Deferred income taxes and other noncurrent liabilitie s 1,712 The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of March 27, 2021 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.3 3.9 Weighted average discount rate 3.0 % 4.0 %

Debt

Debt	3 Months Ended
	Mar. 27, 2021
Debt	(10) Debt Other than the finance lease obligations as presented on the consolidated balance sheets, the Company had no outstanding debt as of March 27, 2021 and December 26, 2020. On August 18, 2020, Landstar entered into an amended and restated credit agreement with a syndicate of banks and JPMorgan Chase Bank, N.A., as administrative agent (the “Credit Agreement”). The Credit Agreement, which matures on August 18, 2023, 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 March 27, 2021 and December 26, 2020, 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	3 Months Ended
	Mar. 27, 2021
Commitments and Contingencies	(11) Commitments and Contingencies Short-term investments include $41,407,000 in current maturities of investments held by the Company’s insurance segment at March 27, 2021. 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.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 27, 2021
Revenue from Contracts with Customers – Disaggregation of Revenue	Revenue from Contracts with Customers – Disaggregation of Revenue The following table summarizes (i) the percentage of consolidated revenue generated by mode of transportation and (ii) the total amount of truck transportation revenue hauled by BCO Independent Contractors and Truck Brokerage Carriers March 27, 2021 March 28, 2020 Thirteen Weeks Ended March 27, 2021 March 28, 2020 Mode Truck – BCO Independent Contractors 44 % 46 % Truck – Truck Brokerage Carriers 49 % 46 % Rail intermodal 2 % 3 % Ocean and air cargo carriers 4 % 3 % Truck Equipment Type Van equipment $ 827,187 $ 545,307 Unsided/platform equipment $ 340,632 $ 286,328 Less-than-truckload $ 25,670 $ 22,941

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 27, 2021
Schedule of Disaggregation of Revenue	The following table summarizes (i) the percentage of consolidated revenue generated by mode of transportation and (ii) the total amount of truck transportation revenue hauled by BCO Independent Contractors and Truck Brokerage Carriers March 27, 2021 March 28, 2020 Thirteen Weeks Ended March 27, 2021 March 28, 2020 Mode Truck – BCO Independent Contractors 44 % 46 % Truck – Truck Brokerage Carriers 49 % 46 % Rail intermodal 2 % 3 % Ocean and air cargo carriers 4 % 3 % Truck Equipment Type Van equipment $ 827,187 $ 545,307 Unsided/platform equipment $ 340,632 $ 286,328 Less-than-truckload $ 25,670 $ 22,941

Share-based Payment Arrangeme_2

Share-based Payment Arrangements (Tables)	3 Months Ended
	Mar. 27, 2021
Amounts Recognized in Financial Statements with Respect to Plans	Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands): Thirteen Weeks Ended March 27, 2021 March 28, 2020 Total cost of the Plans during the period $ 4,029 $ 631 Amount of related income tax benefit recognized during the period (1,341 ) (873 ) Net cost of the Plans during the period $ 2,688 $ (242 )
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 Term (years) Aggregate Intrinsic Options outstanding at December 26, 2020 17,650 $ 54.16 Exercised (5,280 ) $ 51.83 Options outstanding at March 27, 2021 12,370 $ 55.15 1.6 $ 1,411 Options exercisable at March 27, 2021 12,370 $ 55.15 1.6 $ 1,411
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 Fair Value Outstanding at December 26, 2020 183,213 $ 93.44 Granted 45,707 $ 129.03 Vested shares (9,247 ) $ 106.14 Outstanding at March 27, 2021 219,673 $ 100.31
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 60,440 $ 103.65 Granted 18,078 $ 140.97 Vested (21,733 ) $ 103.39 Non-vested 56,785 $ 115.63

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 27, 2021
Information Regarding Reportable Business Segments	The following table summarizes information about the Company’s reportable business segments as of and for the thirteen-week periods ended March 27, 2021 and March 28, 2020 (in thousands): Thirteen Weeks Ended March 27, 2021 March 28, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,270,499 $ 17,035 $ 1,287,534 $ 913,884 $ 13,682 $ 927,566 Internal revenue 9,534 9,534 9,079 9,079 Investment income 684 684 1,167 1,167 Operating income 89,732 13,536 103,268 55,044 (1,039 ) 54,005 Expenditures on long-lived assets 4,076 4,076 5,799 5,799 Goodwill 40,732 40,732 37,182 37,182

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 27, 2021
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 (loss), net of related income taxes, as of and for the thirteen-week period ended March 27, 2021 (in thousands): Unrealized Available-for-Sale Foreign Total Balance as of December 26, 2020 $ 2,808 $ (4,807 ) $ (1,999 ) Other comprehensive loss (534 ) (420 ) (954 ) Balance as of March 27, 2021 $ 2,274 $ (5,227 ) $ (2,953 )

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 27, 2021
Amortized Cost and Fair Value of Available-for-Sale Investments	Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 27, 2021 Money market investments $ 14,731 $ — $ — $ 14,731 Asset-backed securities 566 — 11 555 Corporate bonds and direct obligations of government agencies 102,075 2,950 144 104,881 U.S. Treasury obligations 2,339 102 — 2,441 Total $ 119,711 $ 3,052 $ 155 $ 122,608 December 26, 2020 Money market investments $ 17,867 $ — $ — $ 17,867 Asset-backed securities 567 — 26 541 Corporate bonds and direct obligations of government agencies 98,241 3,551 72 101,720 U.S. Treasury obligations 2,338 125 — 2,463 Total $ 119,013 $ 3,676 $ 98 $ 122,591
Schedule of Unrealized Loss on Available-for-Sale Investments	For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 27, 2021 Asset-backed securities $ — $ — $ 555 $ 11 $ 555 $ 11 Corporate bonds and direct obligations of government agencies 8,596 123 1,255 21 9,851 144 Total $ 8,596 $ 123 $ 1,810 $ 32 $ 10,406 $ 155 December 26, 2020 Asset-backed securities $ 541 $ 26 $ — $ — $ 541 $ 26 Corporate bonds and direct obligations of government agencies 2,681 72 — — 2,681 72 Total $ 3,222 $ 98 $ — $ — $ 3,222 $ 98

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 27, 2021
Lease, Cost [Table Text Block]	The components of lease cost for finance leases and operating leases for the thirteen weeks ended March 27, 2021 were (in thousands): Finance leases: Amortization of right-of-use $ 5,478 Interest on lease liability 727 Total finance lease cost 6,205 Operating leases: Lease cost 846 Variable lease cost — Sublease income (1,190 ) Total net operating lease income (344 ) Total net lease cost $ 5,861
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 March 27, 2021 is as follows (in thousands):Assets: Operating lease right-of-use Other assets $ 2,440 Finance lease assets Operating property, less accumulated depreciation and amortization 131,470 Total lease assets $ 133,910
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 March 27, 2021 (in thousands) : Finance Leases Operating Leases 2021 Remainder $ 27,426 $ 564 2022 28,753 686 2023 21,742 600 2024 11,827 516 2025 5,580 275 Thereafter — — Total future minimum lease paym e nts 95,328 2,641 Less amount representing interest (1.9% to 4.4%) 4,332 201 Present value of minimum lease payments $ 90,996 $ 2,440 Current maturities of long-term debt 32,800 Long-term debt, excluding current maturities 58,196 Other current liabilities 728 Deferred income taxes and other noncurrent liabilitie s 1,712
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 March 27, 2021 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.3 3.9 Weighted average discount rate 3.0 % 4.0 %

Schedule Of Revenue By Major Cu

Schedule Of Revenue By Major Customers By Reporting Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 1,287,534	$ 927,566
BCO Independent Contractors – Truck
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	44.00%	46.00%
Brokerage Carriers - Truck
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	49.00%	46.00%
Rail Intermodal
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	2.00%	3.00%
Ocean and air cargo carriers
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	4.00%	3.00%
BCO Independent Contractor Truck and Brokerage Carriers Truck | Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 827,187	$ 545,307
BCO Independent Contractor Truck and Brokerage Carriers Truck | Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	340,632	286,328
BCO Independent Contractor Truck and Brokerage Carriers Truck | Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	$ 25,670	$ 22,941

Share-based Payment Arrangeme_3

Share-based Payment Arrangements - Additional Information (Detail)	3 Months Ended
	Mar. 27, 2021USD ($)Equityplanshares	Mar. 28, 2020USD ($)
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	$ 343,000	$ 706,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation (benefit)/expense	3,223,000	(136,000)
Unrecognized compensation cost, other than options	$ 39,800,000
Unrecognized compensation cost expected to be recognized over period, years	3 years 4 months 24 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	$ 5,054,000
Unrecognized compensation cost expected to be recognized over period, years	2 years 4 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	$ 521,000	$ 1,023,000
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 | Maximum | Restricted Stock Units (RSUs)
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	3,521,140

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 4,029	$ 631
Amount of related income tax benefit recognized during the period	(1,341)	(873)
Net cost of the Plans during the period	$ 2,688	$ (242)

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 27, 2021$ / sharesshares
Number of Shares
Beginning Balance | shares	183,213
Granted | shares	45,707
Vested shares | shares	(9,247)
Ending Balance | shares	219,673
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 93.44
Granted | $ / shares	129.03
Vested shares | $ / shares	106.14
Ending Balance | $ / shares	$ 100.31

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	3 Months Ended
	Mar. 27, 2021$ / sharesshares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	60,440
Granted | shares	18,078
Vested | shares	(21,733)
Ending Balance | shares	56,785
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 103.65
Granted | $ / shares	140.97
Vested | $ / shares	103.39
Ending Balance | $ / shares	$ 115.63

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 27, 2021USD ($)$ / sharesshares
Number of Options
Beginning Balance, number of options | shares	17,650
Exercised, number of options | shares	(5,280)
Ending Balance, number of options | shares	12,370
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share | $ / shares	$ 54.16
Exercised, Weighted Average Exercise Price per Share | $ / shares	51.83
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	$ 55.15
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options | shares	12,370
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share | $ / shares	$ 55.15
Weighted Average Remaining Contractual Term (years)
Options outstanding at March 27, 2021	1 year 7 months 6 days
Options exercisable at March 27, 2021	1 year 7 months 6 days
Aggregate Intrinsic Value
Options outstanding at March 27, 2021 | $	$ 1,411
Options exercisable at March 27, 2021 | $	$ 1,411

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Income Taxes [Line Items]
Corporate income tax rate	21.00%	21.00%
Estimated annual effective income tax rate	24.40%	24.20%
Effective income tax rate	24.40%	22.90%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
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 ($)	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 353,000	$ 7,000
Interest paid	983,000	1,079,000
Capital Lease Obligations Incurred	$ 0	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
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
	Mar. 27, 2021	Mar. 28, 2020	Dec. 26, 2020
Segment Reporting Information [Line Items]
External revenue	$ 1,287,534	$ 927,566
Internal revenue	9,534	9,079
Investment income	684	1,167
Operating income	103,268	54,005
Expenditures on long-lived assets	4,076	5,799
Goodwill	40,732	37,182	$ 40,949
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,270,499	913,884
Operating income	89,732	55,044
Expenditures on long-lived assets	4,076	5,799
Goodwill	40,732	37,182
Insurance
Segment Reporting Information [Line Items]
External revenue	17,035	13,682
Internal revenue	9,534	9,079
Investment income	684	1,167
Operating income	$ 13,536	$ (1,039)

Components of and Changes in Ac

Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2021	Mar. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 691,835
Other comprehensive loss	(954)	$ (9,481)
Ending Balance	762,919
Unrealized Holding (Losses) Gains on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	2,808
Other comprehensive loss	(534)
Ending Balance	2,274
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(4,807)
Other comprehensive loss	(420)
Ending Balance	(5,227)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,999)
Other comprehensive loss	(954)
Ending Balance	$ (2,953)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 27, 2021	Dec. 26, 2020
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	$ 2,897,000	$ 3,578,000

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Mar. 27, 2021	Dec. 26, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 119,711	$ 119,013
Gross Unrealized Gains	3,052	3,676
Gross Unrealized Losses	155	98
Fair Value	122,608	122,591
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,731	17,867
Fair Value	14,731	17,867
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	566	567
Gross Unrealized Losses	11	26
Fair Value	555	541
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	102,075	98,241
Gross Unrealized Gains	2,950	3,551
Gross Unrealized Losses	144	72
Fair Value	104,881	101,720
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,339	2,338
Gross Unrealized Gains	102	125
Fair Value	$ 2,441	$ 2,463

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Mar. 27, 2021	Dec. 26, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 8,596	$ 3,222
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	123	98
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	1,810
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	32
Available-for-sale investments with unrealized losses, Fair Value, Total	10,406	3,222
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	155	98
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value		541
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss		26
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	555
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	11
Available-for-sale investments with unrealized losses, Fair Value, Total	555	541
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	11	26
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	8,596	2,681
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	123	72
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	1,255
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	21
Available-for-sale investments with unrealized losses, Fair Value, Total	9,851	2,681
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 144	$ 72

Leases - Additional Information

Leases - Additional Information (Detail)	Mar. 27, 2021USD ($)
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	3 Months Ended
	Mar. 27, 2021USD ($)
Finance leases:
Amortization of right-of-use assets	$ 5,478
Interest on lease liability	727
Total finance lease cost	6,205
Operating leases:
Lease cost	846
Sublease income	(1,190)
Total net operating lease income	(344)
Total net lease cost	$ 5,861

Leases - Classification on our

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Mar. 27, 2021USD ($)
Total lease assets	$ 133,910
Other Assets [Member]
Operating lease right-of-use assets	2,440
Property Plant and Equipment Net [Member]
Finance lease assets	$ 131,470

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 27, 2021	Dec. 26, 2020
Operating Leased Assets [Line Items]
2021 Remainder	$ 27,426
2022	28,753
2023	21,742
2024	11,827
2025	5,580
Total future minimum lease payments	95,328
Less amount representing interest (1.9% to 4.4%)	4,332
Present value of minimum lease payments	90,996
Current maturities of long-term debt	32,800	$ 35,415
Long-term debt, excluding current maturities	58,196	$ 65,359
2021 Remainder	564
2022	686
2023	600
2024	516
2025	275
Total future minimum lease payments	2,641
Less amount representing interest (2.1% to 4.4%)	201
Present value of minimum lease payments	2,440
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	728
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 1,712

Leases - Undiscounted Cash Fl_2

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Mar. 27, 2021
Maximum [Member]
Finance lease Interest rate percentage	4.40%
Minimum [Member]
Finance lease Interest rate percentage	1.90%

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and the Weighted Average Discount Rate for Finance and Operating leases (Detail)	Mar. 27, 2021
Weighted average remaining lease term (years)	3 years 3 months 18 days
Weighted average discount rate	3.00%
Weighted average remaining lease term (years)	3 years 10 months 24 days
Weighted average discount rate	4.00%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Aug. 18, 2020	Mar. 27, 2021	Dec. 26, 2020
Debt Instrument [Line Items]
Debt Outstanding Excluding Capital Lease Obligations		$ 0	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, initiation date	Aug. 18, 2020
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)	Mar. 27, 2021USD ($)
Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 41,407,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	81,201,000
Non-Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	30,742,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	33,620,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 64,934,000