Landstar System (LSTR) 10-Q 29 Oct 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 25, 2021	Oct. 18, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-25
Document Period End Date	Sep. 25, 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		38,108,586
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. 25, 2021	Dec. 26, 2020
Current Assets
Cash and cash equivalents	$ 230,564	$ 249,354
Short-term investments	36,644	41,375
Trade accounts receivable, less allowance of $6,543 and $8,670	1,010,538	764,169
Other receivables, including advances to independent contractors, less allowance of $7,696 and $7,239	109,007	134,757
Other current assets	25,375	18,520
Total current assets	1,412,128	1,208,175
Operating property, less accumulated depreciation and amortization of $332,785 and $299,407	301,373	296,996
Goodwill	40,980	40,949
Other assets	159,561	107,679
Total assets	1,914,042	1,653,799
Current Liabilities
Cash overdraft	88,958	74,748
Accounts payable	548,385	380,505
Current maturities of long-term debt	34,617	35,415
Insurance claims	64,958	149,774
Dividends payable		76,770
Other current liabilities	110,394	88,925
Total current liabilities	847,312	806,137
Long-term debt, excluding current maturities	62,724	65,359
Insurance claims	46,914	38,867
Deferred income taxes and other noncurrent liabilities	57,402	51,601
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,231,013 and 68,183,702 shares	682	682
Additional paid-in capital	246,302	228,875
Retained earnings	2,288,754	2,046,238
Cost of 30,122,427 and 29,797,639 shares of common stock in treasury	(1,633,109)	(1,581,961)
Accumulated other comprehensive loss	(2,939)	(1,999)
Total shareholders' equity	899,690	691,835
Total liabilities and shareholders' equity	$ 1,914,042	$ 1,653,799

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 25, 2021	Dec. 26, 2020
Allowance on trade accounts receivable	$ 6,543	$ 8,670
Allowance on other receivables	7,696	7,239
Accumulated depreciation and amortization on operating property	$ 332,785	$ 299,407
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,231,013	68,183,702
Treasury stock, shares	30,122,427	29,797,639

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Revenue	$ 1,734,299	$ 1,085,546	$ 4,592,551	$ 2,836,626
Investment income	706	714	2,138	2,716
Costs and expenses:
Purchased transportation	1,356,671	838,753	3,583,197	2,183,143
Commissions to agents	135,295	85,848	356,997	236,490
Other operating costs, net of gains on asset sales/dispositions	10,572	7,361	27,117	23,035
Insurance and claims	29,569	21,855	75,198	66,563
Selling, general and administrative	59,198	38,851	158,720	124,779
Depreciation and amortization	12,288	11,240	36,532	34,212
Impairment of intangible and other assets	0	0	0	2,582
Total costs and expenses	1,603,593	1,003,908	4,237,761	2,670,804
Operating income	131,412	82,352	356,928	168,538
Interest and debt expense	965	1,008	2,974	2,936
Income before income taxes	130,447	81,344	353,954	165,602
Income taxes	31,772	19,458	85,745	38,567
Net income	$ 98,675	$ 61,886	$ 268,209	$ 127,035
Diluted earnings per share	$ 2.58	$ 1.61	$ 7	$ 3.28
Average diluted shares outstanding	38,218,000	38,386,000	38,342,000	38,673,000
Dividends per common share	$ 0.25	$ 0.21	$ 0.67	$ 0.58

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Net income	$ 98,675	$ 61,886	$ 268,209	$ 127,035
Other comprehensive (loss) income:
Unrealized holding (losses) gains on available-for-sale investments, net of tax (benefit) expense of ($347), $413, ($104) and $75	(377)	273	(1,260)	1,510
Foreign currency translation gains (losses)	(710)	908	320	(5,262)
Other comprehensive (loss) income	(1,087)	1,181	(940)	(3,752)
Comprehensive income	$ 97,588	$ 63,067	$ 267,269	$ 123,283

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Unrealized holding losses on available-for-sale investments, net of tax (benefit) expense	$ (104)	$ 75	$ (347)	$ 413

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
OPERATING ACTIVITIES
Net income	$ 268,209	$ 127,035
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	36,532	34,212
Non-cash interest charges	336	222
Provisions for losses on trade and other accounts receivable	3,884	7,206
Gains on sales/disposals of operating property	(1,259)	(2,295)
Impairment of intangible and other assets	0	2,582
Deferred income taxes, net	4,948	4,758
Stock-based compensation	18,717	2,691
Changes in operating assets and liabilities:
Increase in trade and other accounts receivable	(224,503)	(62,492)
Increase in other assets	(3,822)	(13,492)
Increase in accounts payable	167,880	66,815
Increase in other liabilities	22,837	14,050
(Decrease) increase in insurance claims	(76,769)	4,256
NET CASH PROVIDED BY OPERATING ACTIVITIES	216,990	185,548
INVESTING ACTIVITIES
Net changes in other short-term investments	0	131
Sales and maturities of investments	25,521	18,795
Purchases of investments	(77,649)	(21,102)
Purchases of operating property	(18,561)	(25,426)
Proceeds from sales of operating property	2,047	6,623
Consideration paid for acquisition	0	(2,766)
NET CASH USED BY INVESTING ACTIVITIES	(68,642)	(23,745)
FINANCING ACTIVITIES
Increase (decrease) in cash overdraft	14,210	(6,419)
Dividends paid	(102,463)	(101,442)
Payment for debt issue costs	0	(959)
Proceeds from exercises of stock options	134	676
Taxes paid in lieu of shares issued related to stock-based compensation plans	(2,342)	(3,326)
Purchases of common stock	(50,230)	(115,962)
Principal payments on finance lease obligations	(26,513)	(33,036)
Payment of deferred consideration	(168)	0
NET CASH USED BY FINANCING ACTIVITIES	(167,372)	(260,468)
Effect of exchange rate changes on cash and cash equivalents	234	(2,296)
Decrease in cash and cash equivalents	(18,790)	(100,961)
Cash and cash equivalents at beginning of period	249,354	319,515
Cash and cash equivalents at end of period	$ 230,564	$ 218,554

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. 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	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	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	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)
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)
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	268,209
Ending Balance (in shares) at Sep. 25, 2021		68,231,013			30,122,427
Ending Balance at Sep. 25, 2021	899,690	$ 682	246,302	2,288,754	$ (1,633,109)	(2,939)
Beginning Balance (in shares) at Mar. 27, 2021		68,212,296			29,803,726
Beginning Balance at Mar. 27, 2021	762,919	$ 682	232,597	2,115,411	$ (1,582,818)	(2,953)
Net income	92,294			92,294
Dividends	(8,068)			(8,068)
Purchases of common stock (in shares)					150,000
Purchases of common stock	(23,837)				$ (23,837)
Issuance of stock related to stock-based compensation plans (in shares)		17,584			355
Issuance of stock related to stock-based compensation plans	(1,100)		(1,039)		$ (61)
Stock-based compensation	6,864		6,864
Other comprehensive (loss) income	1,101					1,101
Ending Balance (in shares) at Jun. 26, 2021		68,229,880			29,954,081
Ending Balance at Jun. 26, 2021	830,173	$ 682	238,422	2,199,637	$ (1,606,716)	(1,852)
Net income	98,675			98,675
Dividends	(9,558)			(9,558)
Purchases of common stock (in shares)					167,046
Purchases of common stock	(26,393)				$ (26,393)
Issuance of stock related to stock-based compensation plans (in shares)		1,133			1,300
Issuance of stock related to stock-based compensation plans	56		56
Stock-based compensation	7,824		7,824
Other comprehensive (loss) income	(1,087)					(1,087)
Ending Balance (in shares) at Sep. 25, 2021		68,231,013			30,122,427
Ending Balance at Sep. 25, 2021	$ 899,690	$ 682	$ 246,302	$ 2,288,754	$ (1,633,109)	$ (2,939)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 25, 2021	Jun. 26, 2021	Mar. 27, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 25, 2021	Sep. 26, 2020
Dividends per common share	$ 0.25	$ 0.21	$ 0.21	$ 0.21	$ 0.185	$ 0.185	$ 0.67	$ 0.58

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 25, 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 generated by equipment type during the thirty-nine-week and thirteen-week periods ended September 25, 2021 and September 26, 2020 (dollars in thousands): Thirty Nine Weeks Ended Thirteen Weeks Ended September 25, 2021 September 26, 2020 September 25, 2021 September 26, 2020 Mode Truck – BCO Independent Contractors 41 % 46 % 40 % 46 % Truck – Truck Brokerage Carriers 50 % 46 % 51 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 4 % 3 % 5 % 3 % Truck Equipment Type Van equipment $ 2,502,025 $ 1,485,553 $ 918,115 $ 578,166 Unsided/platform equipment $ 1,112,358 $ 807,966 $ 422,979 $ 294,273 Less-than-truckload $ 85,551 $ 70,984 $ 30,819 $ 25,125 Other truck transportation (1) $ 518,472 $ 249,584 $ 208,817 $ 108,614 (1) Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment. Power-only refers to shipments where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper or consignee.

Share-based Payment Arrangement

Share-based Payment Arrangements	9 Months Ended
	Sep. 25, 2021
Share-based Payment Arrangements	(2) Share-based Payment Arrangements As of September 25, 2021, the Company has an employee equity incentive plan, the 2011 equity incentive plan (the “2011 EIP”). The Company also has a stock compensation plan for members of its Board of Directors, the Amended and Restated 2013 Directors Stock Compensation Plan (as amended and restated as of May 17, 2016, the “2013 DSCP”). 6,000,000 shares of the Company’s common stock were authorized for issuance under the 2011 EIP and 115,000 shares of the Company’s common stock were authorized for issuance under the 2013 DSCP. The 2011 EIP and 2013 DSCP are each referred to herein as a “Plan,” and, collectively, as the “Plans.” Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands): Thirty Nine Weeks Ended Thirteen Weeks Ended September 25, September 26, September 25, September 26, 2021 2020 2021 2020 Total cost of the Plans during the period $ 18,717 $ 2,691 $ 7,824 $ 1,490 Amount of related income tax benefit recognized during the period (5,636 ) (1,618 ) (1,919 ) (483 ) Net cost of the Plans during the period $ 13,081 $ 1,073 $ 5,905 $ 1,007 Included in income tax benefits recognized in the thirty-nine-week periods ended September 25, 2021 and September 26, 2020 were excess tax benefits from stock-based awards of $1,039,000 and $927,000, respectively. As of September 25, 2021, there were 56,782 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,505,880 shares of the Company’s common stock reserved for issuance under the 2011 EIP. Restricted Stock Units The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards with either a performance condition or a market condition under the Plans: Number of Weighted Average Grant Date RSUs Fair Value Outstanding at December 26, 2020 183,213 $ 93.44 Granted 46,103 $ 128.78 Shares earned in excess of target (1) 7,132 $ 31.97 Vested shares (24,600 ) $ 59.85 Forfeited (2,688 ) $ 107.76 Outstanding at September 25, 2021 209,160 $ 102.90 (1) Represents shares earned in excess of target under the May 1, 2015 RSU award as total shareholder return exceeded the target under the award. During the thirty-nine-week period ended September 25, 2021, the Company granted RSUs with a performance condition. Outstanding RSUs at both December 26, 2020 and September 25, 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 $ and $ of share-based compensation expense related to RSU awards in the thirty-nine-week periods ended September , and September , , respectively. As of September , , there was a maximum of $ million of total unrecognized compensation cost related to RSU awards granted under the Plans with an expected average remaining life of approximately 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. 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 26,351 $ 150.20 Vested (29,055 ) $ 104.35 Forfeited (1,300 ) $ 97.81 Non-vested 56,436 $ 125.16 The fair value of each share of non-vested non-vested DSCP service from As of September , , there was $ of total unrecognized compensation cost related to non-vested shares of restricted stock and Deferred 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 years. Stock Options The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Weighted Aggregate Options outstanding at December 26, 2020 17,650 $ 54.16 Exercised (6,480 ) $ 52.68 Options outstanding at September 25, 2021 11,170 $ 55.02 1.0 $ 1,224 Options exercisable at September 25, 2021 11,170 $ 55.02 1.0 $ 1,224 The total intrinsic value of , and September , was $ and $ , respectively. As of September , , there was no unrecognized compensation cost related to stock options granted under the Plans.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 25, 2021
Income Taxes	(3) Income Taxes The provisions for income taxes for the 2021 and 2020 thirty-nine-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 thirty-nine-week period was 24.2%, which was higher than the statutory federal income tax rate of 21% primarily attributable to state taxes and nondeductible executive compensation, partially offset by excess tax benefits realized on 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 25, 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 thirty-nine-week periods ended September 25, 2021 and September 26, 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	9 Months Ended
	Sep. 25, 2021
Additional Cash Flow Information	(5) Additional Cash Flow Information During the 2021 thirty-nine-week period, Landstar paid income taxes and interest of $71,823,000 and $2,780,000, respectively. During the 2020 thirty-nine-week period, Landstar paid income taxes and interest of $28,761,000 and $3,087,000, respectively. Landstar acquired operating property by entering into finance leases in the amounts of $23,080,000 and $7,485,000 in the 2021 and 2020 thirty-nine-week periods, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 25, 2021
Segment Information	(6) 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 25, 2021 and September 26, 2020 (in thousands): Thirty Nine Weeks Ended September 25, 2021 September 26, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 4,539,561 $ 52,990 $ 4,592,551 $ 2,795,056 $ 41,570 $ 2,836,626 Internal revenue 53,028 53,028 44,912 44,912 Investment income 2,138 2,138 2,716 2,716 Operating income 323,370 33,558 356,928 148,270 20,268 168,538 Expenditures on long-lived assets 18,561 18,561 25,426 25,426 Goodwill 40,980 40,980 40,251 40,251 Thirteen Weeks Ended September 25, 2021 September 26, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,716,004 $ 18,295 $ 1,734,299 $ 1,071,374 $ 14,172 $ 1,085,546 Internal revenue 9,533 9,533 9,078 9,078 Investment income 706 706 714 714 Operating income 123,410 8,002 131,412 71,752 10,600 82,352 Expenditures on long-lived assets 9,561 9,561 7,750 7,750 In the thirty-nine-week and thirteen-week periods ended September 25, 2021 and September 26, 2020, no single customer accounted for more than 10% of the Company’s consolidated revenue.

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 25, 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 thirty-nine-week period ended September 25, 2021 (in thousands): Unrealized Available-for-Sale Foreign Currency Total Balance as of December 26, 2020 $ 2,808 $ (4,807 ) $ (1,999 ) Other comprehensive (loss) gain (1,260 ) 320 (940 ) Balance as of September 25, 2021 $ 1,548 $ (4,487 ) $ (2,939 ) 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 25, 2021.

Investments

Investments	9 Months Ended
	Sep. 25, 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, The amortized cost and fair values of available-for-sale Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 25, 2021 Money market investments $ 12,736 $ — $ — $ 12,736 Asset-backed securities 18,899 4 63 18,840 Corporate bonds and direct obligations of government agencies 136,854 2,209 259 138,804 U.S. Treasury obligations 2,341 80 — 2,421 Total $ 170,830 $ 2,293 $ 322 $ 172,801 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 September 25, 2021 Asset-backed securities $ 12,714 $ 63 $ — $ — $ 12,714 $ 63 Corporate bonds and direct obligations of government agencies 49,442 259 — — 49,442 259 Total $ 62,156 $ 322 $ — $ — $ 62,156 $ 322 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	9 Months Ended
	Sep. 25, 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 lease with a $ purchase option for the applicable equipment at lease expiration. Substantially all of Landstar’s operating lease right-of-use assets and operating lease liabilities represent leases for facilities maintained in support of the Company’s network of BCO Independent Contractors and office space used to conduct Landstar’s business. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives or other build-out clauses. Further, the leases do not contain contingent rent provisions. Landstar also leases certain trailing equipment to supplement the Company-owned trailer fleet under “month-to-month” 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 25, 2021 were (in thousands): Finance leases: Amortization of right-of-use $ 15,967 Interest on lease liability 2,023 Total finance lease cost 17,990 Operating leases: Lease cost 2,623 Variable lease cost — Sublease income (3,720 ) Total net operating lease income (1,097 ) Total net lease cost $ 16,893 A summary of the lease classification on our consolidated balance sheet as of September 25, 2021 is as follows (in thousands): Assets: Operating right-of-use Other assets $ 2,198 Finance lease assets Operating property, less accumulated depreciation and amortization 129,242 Total lease assets $ 131,440 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 25, 2021 (in thousands): Finance Leases Operating Leases 2021 Remainder $ 11,454 $ 192 2022 33,585 714 2023 26,573 634 2024 16,665 535 2025 10,418 284 Thereafter 2,916 — Total future minimum lease payments 101,611 2,359 Less amount representing interest (1.6% to 4.4%) 4,270 161 Present value of minimum lease payments $ 97,341 $ 2,198 Current maturities of long-term debt 34,617 Long-term debt, excluding current maturities 62,724 Other current liabilities 713 Deferred income taxes and other noncurrent liabilities 1,485 The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of September 25, 2021 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.5 3.5 Weighted average discount rate 2.7 % 4.0 %

Debt

Debt	9 Months Ended
	Sep. 25, 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 September 25, 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 September 25, 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	9 Months Ended
	Sep. 25, 2021
Commitments and Contingencies	(11) Commitments and Contingencies Short-term investments include $36,644,000 in current maturities of investments held by the Company’s insurance segment at September 25, 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.

Impairment of Intangible and Ot

Impairment of Intangible and Other Assets	9 Months Ended
	Sep. 25, 2021
Impairment of Intangible and Other Assets	(12) Impairment of Intangible and Other Assets During the 2020 second fiscal quarter, the Company recorded a non-cash 10-Q

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 25, 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 generated by equipment type during the thirty-nine-week and thirteen-week periods ended September 25, 2021 and September 26, 2020 (dollars in thousands): Thirty Nine Weeks Ended Thirteen Weeks Ended September 25, 2021 September 26, 2020 September 25, 2021 September 26, 2020 Mode Truck – BCO Independent Contractors 41 % 46 % 40 % 46 % Truck – Truck Brokerage Carriers 50 % 46 % 51 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 4 % 3 % 5 % 3 % Truck Equipment Type Van equipment $ 2,502,025 $ 1,485,553 $ 918,115 $ 578,166 Unsided/platform equipment $ 1,112,358 $ 807,966 $ 422,979 $ 294,273 Less-than-truckload $ 85,551 $ 70,984 $ 30,819 $ 25,125 Other truck transportation (1) $ 518,472 $ 249,584 $ 208,817 $ 108,614 (1) Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment. Power-only refers to shipments where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper or consignee.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 25, 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 generated by equipment type during the thirty-nine-week and thirteen-week periods ended September 25, 2021 and September 26, 2020 (dollars in thousands): Thirty Nine Weeks Ended Thirteen Weeks Ended September 25, 2021 September 26, 2020 September 25, 2021 September 26, 2020 Mode Truck – BCO Independent Contractors 41 % 46 % 40 % 46 % Truck – Truck Brokerage Carriers 50 % 46 % 51 % 46 % Rail intermodal 3 % 3 % 3 % 3 % Ocean and air cargo carriers 4 % 3 % 5 % 3 % Truck Equipment Type Van equipment $ 2,502,025 $ 1,485,553 $ 918,115 $ 578,166 Unsided/platform equipment $ 1,112,358 $ 807,966 $ 422,979 $ 294,273 Less-than-truckload $ 85,551 $ 70,984 $ 30,819 $ 25,125 Other truck transportation (1) $ 518,472 $ 249,584 $ 208,817 $ 108,614 (1) Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment. Power-only refers to shipments where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper or consignee.

Share-based Payment Arrangeme_2

Share-based Payment Arrangements (Tables)	9 Months Ended
	Sep. 25, 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): Thirty Nine Weeks Ended Thirteen Weeks Ended September 25, September 26, September 25, September 26, 2021 2020 2021 2020 Total cost of the Plans during the period $ 18,717 $ 2,691 $ 7,824 $ 1,490 Amount of related income tax benefit recognized during the period (5,636 ) (1,618 ) (1,919 ) (483 ) Net cost of the Plans during the period $ 13,081 $ 1,073 $ 5,905 $ 1,007
Schedule of Information on Restricted Stock Units	The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards with either a performance condition or a market condition under the Plans: Number of Weighted Average Grant Date RSUs Fair Value Outstanding at December 26, 2020 183,213 $ 93.44 Granted 46,103 $ 128.78 Shares earned in excess of target (1) 7,132 $ 31.97 Vested shares (24,600 ) $ 59.85 Forfeited (2,688 ) $ 107.76 Outstanding at September 25, 2021 209,160 $ 102.90 (1) Represents shares earned in excess of target under the May 1, 2015 RSU award as total shareholder return exceeded the target under the award.
Summary of Information Regarding Stock Options	The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Weighted Aggregate Options outstanding at December 26, 2020 17,650 $ 54.16 Exercised (6,480 ) $ 52.68 Options outstanding at September 25, 2021 11,170 $ 55.02 1.0 $ 1,224 Options exercisable at September 25, 2021 11,170 $ 55.02 1.0 $ 1,224
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 26,351 $ 150.20 Vested (29,055 ) $ 104.35 Forfeited (1,300 ) $ 97.81 Non-vested 56,436 $ 125.16

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 25, 2021
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 25, 2021 and September 26, 2020 (in thousands): Thirty Nine Weeks Ended September 25, 2021 September 26, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 4,539,561 $ 52,990 $ 4,592,551 $ 2,795,056 $ 41,570 $ 2,836,626 Internal revenue 53,028 53,028 44,912 44,912 Investment income 2,138 2,138 2,716 2,716 Operating income 323,370 33,558 356,928 148,270 20,268 168,538 Expenditures on long-lived assets 18,561 18,561 25,426 25,426 Goodwill 40,980 40,980 40,251 40,251 Thirteen Weeks Ended September 25, 2021 September 26, 2020 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,716,004 $ 18,295 $ 1,734,299 $ 1,071,374 $ 14,172 $ 1,085,546 Internal revenue 9,533 9,533 9,078 9,078 Investment income 706 706 714 714 Operating income 123,410 8,002 131,412 71,752 10,600 82,352 Expenditures on long-lived assets 9,561 9,561 7,750 7,750

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 25, 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 thirty-nine-week period ended September 25, 2021 (in thousands): Unrealized Available-for-Sale Foreign Currency Total Balance as of December 26, 2020 $ 2,808 $ (4,807 ) $ (1,999 ) Other comprehensive (loss) gain (1,260 ) 320 (940 ) Balance as of September 25, 2021 $ 1,548 $ (4,487 ) $ (2,939 )

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 25, 2021
Amortized Cost and Fair Value of Available-for-Sale Investments	The amortized cost and fair values of available-for-sale Gross Gross Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 25, 2021 Money market investments $ 12,736 $ — $ — $ 12,736 Asset-backed securities 18,899 4 63 18,840 Corporate bonds and direct obligations of government agencies 136,854 2,209 259 138,804 U.S. Treasury obligations 2,341 80 — 2,421 Total $ 170,830 $ 2,293 $ 322 $ 172,801 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 September 25, 2021 Asset-backed securities $ 12,714 $ 63 $ — $ — $ 12,714 $ 63 Corporate bonds and direct obligations of government agencies 49,442 259 — — 49,442 259 Total $ 62,156 $ 322 $ — $ — $ 62,156 $ 322 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)	9 Months Ended
	Sep. 25, 2021
Lease, Cost [Table Text Block]	The components of lease cost for finance leases and operating leases for the thirty nine weeks ended September 25, 2021 were (in thousands): Finance leases: Amortization of right-of-use $ 15,967 Interest on lease liability 2,023 Total finance lease cost 17,990 Operating leases: Lease cost 2,623 Variable lease cost — Sublease income (3,720 ) Total net operating lease income (1,097 ) Total net lease cost $ 16,893
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 25, 2021 is as follows (in thousands): Assets: Operating right-of-use Other assets $ 2,198 Finance lease assets Operating property, less accumulated depreciation and amortization 129,242 Total lease assets $ 131,440
Finance And Operating Lease Maturity [Table Text Block]	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 25, 2021 (in thousands): Finance Leases Operating Leases 2021 Remainder $ 11,454 $ 192 2022 33,585 714 2023 26,573 634 2024 16,665 535 2025 10,418 284 Thereafter 2,916 — Total future minimum lease payments 101,611 2,359 Less amount representing interest (1.6% to 4.4%) 4,270 161 Present value of minimum lease payments $ 97,341 $ 2,198 Current maturities of long-term debt 34,617 Long-term debt, excluding current maturities 62,724 Other current liabilities 713 Deferred income taxes and other noncurrent liabilities 1,485
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 25, 2021 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.5 3.5 Weighted average discount rate 2.7 % 4.0 %

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. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 1,734,299	$ 1,085,546	$ 4,592,551	$ 2,836,626
BCO Independent Contractors – Truck
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	40.00%	46.00%	41.00%	46.00%
Brokerage Carriers - Truck
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	51.00%	46.00%	50.00%	46.00%
Rail Intermodal
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	3.00%	3.00%	3.00%	3.00%
Ocean and air cargo carriers
Disaggregation of Revenue [Line Items]
Percentage of Consolidated Revenue	5.00%	3.00%	4.00%	3.00%
BCO Independent Contractor Truck and Brokerage Carriers Truck | Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 918,115	$ 578,166	$ 2,502,025	$ 1,485,553
BCO Independent Contractor Truck and Brokerage Carriers Truck | Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	422,979	294,273	1,112,358	807,966
BCO Independent Contractor Truck and Brokerage Carriers Truck | Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	30,819	25,125	85,551	70,984
BCO Independent Contractor Truck and Brokerage Carriers Truck | Other Truck Transportation
Disaggregation of Revenue [Line Items]
Revenue	$ 208,817	$ 108,614	$ 518,472	$ 249,584

Share-based Payment Arrangeme_3

Share-based Payment Arrangements - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefit from stock-based awards	$ 1,039,000	$ 927,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation (benefit)/expense	16,223,000	415,000
Unrecognized compensation cost, other than options	$ 26,300,000
Unrecognized compensation cost expected to be recognized over period, years	3 years 2 months 12 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	$ 4,726,000
Unrecognized compensation cost expected to be recognized over period, years	2 years
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	$ 644,000	$ 1,599,000
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 reserved for issuance	3,505,880
2011 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance	6,000,000
2013 Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance	115,000
Common stock reserved for issuance	56,782
2013 Directors Stock Compensation Plan | Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting percentage	100.00%

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 7,824	$ 1,490	$ 18,717	$ 2,691
Amount of related income tax benefit recognized during the period	(1,919)	(483)	(5,636)	(1,618)
Net cost of the Plans during the period	$ 5,905	$ 1,007	$ 13,081	$ 1,073

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 25, 2021$ / sharesshares
Number of Shares
Beginning Balance | shares	183,213
Granted | shares	46,103
Shares earned in excess of target | shares	7,132
Vested shares | shares	(24,600)
Forfeited | shares	(2,688)
Ending Balance | shares	209,160
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 93.44
Granted | $ / shares	128.78
Shares earned in excess of target | $ / shares	31.97
Vested shares | $ / shares	59.85
Forfeited | $ / shares	107.76
Ending Balance | $ / shares	$ 102.90

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. 25, 2021$ / sharesshares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	60,440
Granted | shares	26,351
Vested | shares	(29,055)
Forfeited | shares	(1,300)
Ending Balance | shares	56,436
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 103.65
Granted | $ / shares	150.20
Vested | $ / shares	104.35
Forfeited | $ / shares	97.81
Ending Balance | $ / shares	$ 125.16

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 25, 2021USD ($)$ / sharesshares
Number of Options
Beginning Balance, number of options | shares	17,650
Exercised, number of options | shares	(6,480)
Ending Balance, number of options | shares	11,170
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	52.68
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	$ 55.02
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options | shares	11,170
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share | $ / shares	$ 55.02
Weighted Average Remaining Contractual Term (years)
Options outstanding at September 25, 2021	1 year
Options exercisable at September 25, 2021	1 year
Aggregate Intrinsic Value
Options outstanding at September 25, 2021 | $	$ 1,224
Options exercisable at September 25, 2021 | $	$ 1,224

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	9 Months Ended
	Sep. 25, 2021	Sep. 26, 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	24.20%	23.30%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	9 Months Ended
	Sep. 25, 2021	Sep. 26, 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 ($)	9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 71,823,000	$ 28,761,000
Interest paid	2,780,000	3,087,000
Capital Lease Obligations Incurred	$ 23,080,000	$ 7,485,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Segment Reporting Information [Line Items]
Number of customers accounting for 10 percent or more of total revenue	0	0	0	0
No single customer accounted for benchmark percentage to be considered major customer	10.00%	10.00%	10.00%	10.00%

Information Regarding Reportabl

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020	Dec. 26, 2020
Segment Reporting Information [Line Items]
External revenue	$ 1,734,299	$ 1,085,546	$ 4,592,551	$ 2,836,626
Internal revenue	9,533	9,078	53,028	44,912
Investment income	706	714	2,138	2,716
Operating income	131,412	82,352	356,928	168,538
Expenditures on long-lived assets	9,561	7,750	18,561	25,426
Goodwill	40,980	40,251	40,980	40,251	$ 40,949
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,716,004	1,071,374	4,539,561	2,795,056
Operating income	123,410	71,752	323,370	148,270
Expenditures on long-lived assets	9,561	7,750	18,561	25,426
Goodwill	40,980	40,251	40,980	40,251
Insurance
Segment Reporting Information [Line Items]
External revenue	18,295	14,172	52,990	41,570
Internal revenue	9,533	9,078	53,028	44,912
Investment income	706	714	2,138	2,716
Operating income	$ 8,002	$ 10,600	$ 33,558	$ 20,268

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. 25, 2021	Sep. 26, 2020	Sep. 25, 2021	Sep. 26, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ 691,835
Other comprehensive (loss) gain	$ (1,087)	$ 1,181	(940)	$ (3,752)
Ending Balance	899,690		899,690
Unrealized Holding Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			2,808
Other comprehensive (loss) gain			(1,260)
Ending Balance	1,548		1,548
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(4,807)
Other comprehensive (loss) gain			320
Ending Balance	(4,487)		(4,487)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(1,999)
Other comprehensive (loss) gain			(940)
Ending Balance	$ (2,939)		$ (2,939)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 25, 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	$ 1,971,000	$ 3,578,000

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Sep. 25, 2021	Dec. 26, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 170,830	$ 119,013
Gross Unrealized Gains	2,293	3,676
Gross Unrealized Losses	322	98
Fair Value	172,801	122,591
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,736	17,867
Fair Value	12,736	17,867
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	18,899	567
Gross Unrealized Gains	4
Gross Unrealized Losses	63	26
Fair Value	18,840	541
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	136,854	98,241
Gross Unrealized Gains	2,209	3,551
Gross Unrealized Losses	259	72
Fair Value	138,804	101,720
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,341	2,338
Gross Unrealized Gains	80	125
Fair Value	$ 2,421	$ 2,463

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Sep. 25, 2021	Dec. 26, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 62,156	$ 3,222
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	322	98
Available-for-sale investments with unrealized losses, Fair Value, Total	62,156	3,222
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	322	98
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	12,714	541
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	63	26
Available-for-sale investments with unrealized losses, Fair Value, Total	12,714	541
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	63	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	49,442	2,681
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	259	72
Available-for-sale investments with unrealized losses, Fair Value, Total	49,442	2,681
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 259	$ 72

Leases - Additional Information

Leases - Additional Information (Detail)	Sep. 25, 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	9 Months Ended
	Sep. 25, 2021USD ($)
Finance leases:
Amortization of right-of-use assets	$ 15,967
Interest on lease liability	2,023
Total finance lease cost	17,990
Operating leases:
Lease cost	2,623
Sublease income	(3,720)
Total net operating lease income	(1,097)
Total net lease cost	$ 16,893

Leases - Classification on our

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Sep. 25, 2021USD ($)
Total lease assets	$ 131,440
Other Assets [Member]
Operating lease right-of-use assets	2,198
Property Plant and Equipment Net [Member]
Finance lease assets	$ 129,242

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 25, 2021	Dec. 26, 2020
Operating Leased Assets [Line Items]
2021 Remainder	$ 11,454
2022	33,585
2023	26,573
2024	16,665
2025	10,418
Thereafter	2,916
Total future minimum lease payments	101,611
Less amount representing interest (1.9% to 4.4%)	4,270
Present value of minimum lease payments	97,341
Current maturities of long-term debt	34,617	$ 35,415
Long-term debt, excluding current maturities	62,724	$ 65,359
2021 Remainder	192
2022	714
2023	634
2024	535
2025	284
Thereafter	0
Total future minimum lease payments	2,359
Less amount representing interest (2.1% to 4.4%)	161
Present value of minimum lease payments	2,198
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	713
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 1,485

Leases - Undiscounted Cash Fl_2

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Sep. 25, 2021
Maximum [Member]
Finance lease Interest rate percentage	4.40%
Minimum [Member]
Finance lease Interest rate percentage	1.60%

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and the Weighted Average Discount Rate for Finance and Operating leases (Detail)	Sep. 25, 2021
Weighted average remaining lease term (years)	3 years 6 months
Weighted average discount rate	2.70%
Weighted average remaining lease term (years)	3 years 6 months
Weighted average discount rate	4.00%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Aug. 18, 2020	Sep. 25, 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)	Sep. 25, 2021USD ($)
Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 36,644,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	136,157,000
Non-Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	40,505,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	33,577,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 69,434,000

Impairment of Intangible and _2

Impairment of Intangible and Other Assets - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 25, 2021	Sep. 26, 2020	Jun. 27, 2020	Sep. 25, 2021	Sep. 26, 2020
Impairment charges of intangible asset	$ 0	$ 0	$ 2,582,000	$ 0	$ 2,582,000
Goodwill impairment loss				$ 0