Landstar System (LSTR) 10-Q 29 Jul 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 25, 2022	Jul. 18, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 25, 2022
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		36,427,385
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	0-21238
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1313069
Entity Address, Address Line One	13410 Sutton Park Drive South
Entity Address, City or Town	Jacksonville
Entity Address, Postal Zip Code	32224
City Area Code	904
Local Phone Number	398-9400
Entity Address, State or Province	FL

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Current Assets
Cash and cash equivalents	$ 78,220	$ 215,522
Short-term investments	41,549	35,778
Trade accounts receivable, less allowance of $9,940 and $7,074	1,216,518	1,154,314
Other receivables, including advances to independent contractors, less allowance of $9,856 and $8,125	114,794	101,124
Other current assets	54,190	16,162
Total current assets	1,505,271	1,522,900
Operating property, less accumulated depreciation and amortization of $369,344 and $344,099	314,191	317,386
Goodwill	40,977	40,768
Other assets	156,628	164,411
Total assets	2,017,067	2,045,465
Current Liabilities
Cash overdraft	113,603	116,478
Accounts payable	670,534	604,130
Current maturities of long-term debt	36,827	36,561
Insurance claims	53,971	46,896
Dividends payable		75,387
Other current liabilities	102,956	130,531
Total current liabilities	977,891	1,009,983
Long-term debt, excluding current maturities	73,999	75,243
Insurance claims	53,303	49,509
Deferred income taxes and other noncurrent liabilities	55,004	48,720
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,376,934 and 68,232,975 shares	684	682
Additional paid-in capital	252,045	255,148
Retained earnings	2,535,997	2,317,184
Cost of 31,946,616 and 30,539,235 shares of common stock in treasury	(1,919,535)	(1,705,601)
Accumulated other comprehensive loss	(12,321)	(5,403)
Total shareholders' equity	856,870	862,010
Total liabilities and shareholders' equity	$ 2,017,067	$ 2,045,465

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Allowance on trade accounts receivable	$ 9,940	$ 7,074
Allowance on other receivables	9,856	8,125
Accumulated depreciation and amortization on operating property	$ 369,344	$ 344,099
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,376,934	68,232,975
Treasury stock, shares	31,946,616	30,539,235

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Revenue	$ 1,975,064	$ 1,570,718	$ 3,945,663	$ 2,858,252
Investment income	586	748	1,307	1,432
Costs and expenses:
Purchased transportation	1,545,688	1,228,241	3,096,018	2,226,526
Commissions to agents	161,856	121,693	311,634	221,702
Other operating costs, net of gains on asset sales/dispositions	10,381	8,903	21,522	16,545
Insurance and claims	34,052	24,124	64,820	45,629
Selling, general and administrative	58,967	54,114	111,680	99,522
Depreciation and amortization	14,288	12,143	28,045	24,244
Total costs and expenses	1,825,232	1,449,218	3,633,719	2,634,168
Operating income	150,418	122,248	313,251	225,516
Interest and debt expense	1,105	967	2,228	2,009
Income before income taxes	149,313	121,281	311,023	223,507
Income taxes	36,758	28,987	73,629	53,973
Net income	$ 112,555	$ 92,294	$ 237,394	$ 169,534
Diluted earnings per share	$ 3.05	$ 2.4	$ 6.39	$ 4.41
Average diluted shares outstanding	36,905,000	38,402,000	37,162,000	38,403,000
Dividends per common share	$ 0.25	$ 0.21	$ 0.5	$ 0.42

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Net income	$ 112,555	$ 92,294	$ 237,394	$ 169,534
Other comprehensive (loss) income:
Unrealized holding losses on available-for-sale investments, net of tax benefit of $2,025, $243, $604 and $96	(2,204)	(349)	(7,391)	(883)
Foreign currency translation gains (losses)	(802)	1,450	473	1,030
Other comprehensive (loss) income	(3,006)	1,101	(6,918)	147
Comprehensive income	$ 109,549	$ 93,395	$ 230,476	$ 169,681

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Unrealized holding losses on available-for-sale investments, net of tax benefit	$ 604	$ 96	$ 2,025	$ 243

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
OPERATING ACTIVITIES
Net income	$ 237,394	$ 169,534
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28,045	24,244
Non-cash interest charges	224	224
Provisions for losses on trade and other accounts receivable	6,359	1,393
Gains on sales/disposals of operating property	(1,213)	(766)
Deferred income taxes, net	5,999	6,240
Stock-based compensation	5,810	10,893
Changes in operating assets and liabilities:
Increase in trade and other accounts receivable	(82,233)	(55,236)
Increase in other assets	(42,742)	(24,704)
Increase in accounts payable	66,404	101,206
(Decrease) increase in other liabilities	(25,265)	7,882
Increase (decrease) in insurance claims	10,869	(103,734)
NET CASH PROVIDED BY OPERATING ACTIVITIES	209,651	137,176
INVESTING ACTIVITIES
Sales and maturities of investments	21,918	17,242
Purchases of investments	(23,883)	(68,366)
Purchases of operating property	(7,467)	(9,000)
Proceeds from sales of operating property	2,358	1,438
Purchase of non-marketable securities	(4,999)
NET CASH USED BY INVESTING ACTIVITIES	(12,073)	(58,686)
FINANCING ACTIVITIES
Decrease in cash overdraft	(2,875)	(4,194)
Dividends paid	(93,968)	(92,905)
Proceeds from exercises of stock options	56	77
Taxes paid in lieu of shares issued related to stock-based compensation plans	(10,269)	(2,341)
Purchases of common stock	(212,632)	(23,837)
Principal payments on finance lease obligations	(19,051)	(19,143)
Payment of deferred consideration		(168)
NET CASH USED BY FINANCING ACTIVITIES	(338,739)	(142,511)
Effect of exchange rate changes on cash and cash equivalents	(190)	1,071
Decrease in cash, cash equivalents and restricted cash	(141,351)	(62,950)
Cash, cash equivalents and restricted cash at beginning of period	219,571	249,354
Cash, cash equivalents and restricted cash at end of period	$ 78,220	$ 186,404

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock at Cost	Accumulated Other Comprehensive (Loss) Income
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	169,534
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)
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)
Beginning Balance (in shares) at Dec. 25, 2021		68,232,975			30,539,235
Beginning Balance at Dec. 25, 2021	862,010	$ 682	255,148	2,317,184	$ (1,705,601)	(5,403)
Net income	124,839			124,839
Dividends	(9,324)			(9,324)
Purchases of common stock (in shares)					693,550
Purchases of common stock	(109,332)				$ (109,332)
Issuance of stock related to stock-based compensation plans (in shares)		137,176			10,033
Issuance of stock related to stock-based compensation plans	(10,127)	$ 2	(8,913)		$ (1,216)
Stock-based compensation	1,995		1,995
Other comprehensive (loss) income	(3,912)					(3,912)
Ending Balance (in shares) at Mar. 26, 2022		68,370,151			31,242,818
Ending Balance at Mar. 26, 2022	856,149	$ 684	248,230	2,432,699	$ (1,816,149)	(9,315)
Beginning Balance (in shares) at Dec. 25, 2021		68,232,975			30,539,235
Beginning Balance at Dec. 25, 2021	862,010	$ 682	255,148	2,317,184	$ (1,705,601)	(5,403)
Net income	237,394
Ending Balance (in shares) at Jun. 25, 2022		68,376,934			31,946,616
Ending Balance at Jun. 25, 2022	856,870	$ 684	252,045	2,535,997	$ (1,919,535)	(12,321)
Beginning Balance (in shares) at Mar. 26, 2022		68,370,151			31,242,818
Beginning Balance at Mar. 26, 2022	856,149	$ 684	248,230	2,432,699	$ (1,816,149)	(9,315)
Net income	112,555			112,555
Dividends	(9,257)			(9,257)
Purchases of common stock (in shares)					703,211
Purchases of common stock	(103,300)				$ (103,300)
Issuance of stock related to stock-based compensation plans (in shares)		6,783			587
Issuance of stock related to stock-based compensation plans	(86)				$ (86)
Stock-based compensation	3,815		3,815
Other comprehensive (loss) income	(3,006)					(3,006)
Ending Balance (in shares) at Jun. 25, 2022		68,376,934			31,946,616
Ending Balance at Jun. 25, 2022	$ 856,870	$ 684	$ 252,045	$ 2,535,997	$ (1,919,535)	$ (12,321)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 25, 2022	Mar. 26, 2022	Jun. 26, 2021	Mar. 27, 2021	Jun. 25, 2022	Jun. 26, 2021
Dividends per common share	$ 0.25	$ 0.25	$ 0.21	$ 0.21	$ 0.5	$ 0.42

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week Twenty Six Weeks Ended Thirteen Weeks Ended Mode June 25, 2022 June 26, 2021 June 25, 2022 June 26, 2021 Truck – BCO Independent Contractors 36 % 42 % 35 % 41 % Truck – Truck Brokerage Carriers 53 % 50 % 54 % 51 % Rail intermodal 2 % 3 % 2 % 3 % Ocean and air cargo carriers 8 % 4 % 8 % 4 % Truck Equipment Type Van equipment $ 2,108,143 $ 1,583,911 $ 1,026,938 $ 854,509 Unsided/platform equipment $ 883,032 $ 689,378 $ 474,274 $ 391,893 Less-than-truckload $ 70,651 $ 54,732 $ 36,931 $ 29,062 Other truck transportation (1) $ 436,656 $ 309,655 $ 209,055 $ 168,723 (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	6 Months Ended
	Jun. 25, 2022
Share-based Payment Arrangements	(2) Share-based Payment Arrangements As of June 25, 2022, the Company has an employee equity incentive plan, the 2011 equity incentive plan (the “2011 EIP”). The Company also had two stock compensation plans 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”) and the 2022 Directors Stock Compensation Plan (the “2022 DSCP”), which replaced the 2013 DSCP. At the Company’s 2022 Annual Meeting of Stockholders held on May 11, 2022, the Company’s stockholders approved the 2022 DSCP. The provisions of the 2022 DSCP are substantially similar to the provisions of the 2013 DSCP. 6,000,000 shares of the Company’s common stock were authorized for issuance under the 2011 EIP, and 200,000 shares of the Company’s common stock were authorized for issuance under the 2022 DSCP. No further grants can be made under the 2013 DSCP, including 56,502 shares of the C c s Twenty Six Weeks Thirteen Weeks June 25, 2022 June 26, 2021 June 25, 2022 June 26, 2021 Total cost of the Plans during the period $ 5,810 $ 10,893 $ 3,815 $ 6,864 Amount of related income tax benefit recognized during the period (4,270 ) (3,717 ) (910 ) (2,376 ) Net cost of the Plans during the period $ 1,540 $ 7,176 $ 2,905 $ 4,488 Included in income tax benefits recognized in the twenty-six- As of June 25, 2022, there were 193,217 shares of the Company’s common stock reserved for issuance under the 2022 DSCP and 3,233,908 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 Fair Value Outstanding at December 25, 2021 209,399 $ 102.90 Granted 49,596 $ 139.67 Shares earned in excess of target (1) 91,497 $ 92.58 Vested shares, including shares earned in excess of target (174,366 ) $ 96.14 Forfeited (16,768 ) $ 105.35 Outstanding at June 25, 2022 159,358 $ 115.55 (1) Represents additional shares earned under each of the February 2, 2017; February 2, 2018 and February 1, 2019 RSU awards as fiscal year 2021 financial results exceeded target performance level. During the twenty-six-week 10-K. RSUs with a performance condition granted on January 28, 2022 may vest on January 31 of 2025, 2026 and 2027 based on growth in operating income and pre-tax The Company recognized approximately $4,203,000 and $9,249,000 of share-based compensation expense related to RSU awards in the twenty-six-week 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 56,436 $ 125.16 Granted 23,791 $ 153.11 Vested (27,074 ) $ 122.68 Forfeited (2,302 ) $ 108.59 Non-vested 50,851 $ 140.31 The fair value of each share of non-vested non-vested As of June 25, 2022, there was $5,692,000 of total unrecognized compensation cost related to non-vested non-vested Stock Options The following table summarizes information regarding the Company’s outstanding stock options under the Plans: Number of Weighted Average per Share Weighted Average Term (years) Aggregate Intrinsic Options outstanding at December 25, 2021 8,570 $ 55.42 Exercised (3,500 ) $ 54.01 Options outstanding at June 25, 2022 5,070 $ 56.40 0.6 $ 464 Options exercisable at June 25, 2022 5,070 $ 56.40 0.6 $ 464 The total intrinsic value of stock options exercised during the twenty-six-week As of June 25, 2022, there was no unrecognized compensation cost related to stock options granted under the Plans.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 25, 2022
Income Taxes	(3) Income Taxes The provisions for income taxes for the 2022 and 2021 twenty-six-week non-deductible twenty-six-week twenty-six-week

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week non-vested For each of the twenty-six-week

Additional Cash Flow Informatio

Additional Cash Flow Information	6 Months Ended
	Jun. 25, 2022
Additional Cash Flow Information	(5) Additional Cash Flow Information During the 2022 twenty-six-week twenty-six-week twenty-six-week twenty-six-week

Segment Information

Segment Information	6 Months Ended
	Jun. 25, 2022
Segment Information	(6) Segment Information The following table summarizes information about the Company’s reportable business segments as of and for the twenty-six-week Twenty Six Weeks Ended June 25, 2022 June 26, 2021 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 3,906,558 $ 39,105 $ 3,945,663 $ 2,823,557 $ 34,695 $ 2,858,252 Internal revenue 52,870 52,870 43,495 43,495 Investment income 1,307 1,307 1,432 1,432 Operating income 291,890 21,361 313,251 199,960 25,556 225,516 Expenditures on long-lived assets 7,467 7,467 9,000 9,000 Goodwill 40,977 40,977 40,973 40,973 Thirteen Weeks Ended June 25, 2022 June 26, 2021 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,955,219 $ 19,845 $ 1,975,064 $ 1,553,058 $ 17,660 $ 1,570,718 Internal revenue 39,986 39,986 33,961 33,961 Investment income 586 586 748 748 Operating income 139,944 10,474 150,418 110,228 12,020 122,248 Expenditures on long-lived assets 3,858 3,858 4,924 4,924 In the twenty-six-week

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week Unrealized Available-for-Sale Foreign Total Balance as of December 25, 2021 $ 113 $ (5,516) $ (5,403) Other comprehensive (loss) income (7,391) 473 (6,918) Balance as of June 25, 2022 $ (7,278) $ (5,043) $ (12,321) Amounts reclassified from accumulated other comprehensive income to investment income due to the realization of previously unrealized gains and losses in the accompanying consolidated statements of income were not significant for the twenty-six-week

Investments

Investments	6 Months Ended
	Jun. 25, 2022
Investments	(8) Investments Investments include primarily investment-grade corporate bonds and asset-backed securities 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 June 25, 2022 Money market investments $ 25,368 $ — $ — $ 25,368 Asset-backed securities 20,504 — 2,135 18,369 Corporate bonds and direct obligations of government agencies 124,513 29 7,104 117,438 U.S. Treasury obligations 2,342 — 62 2,280 Total $ 172,727 $ 29 $ 9,301 $ 163,455 December 25, 2021 Money market investments $ 8,750 $ — $ — $ 8,750 Asset-backed securities 22,441 — 346 22,095 Corporate bonds and direct obligations of government agencies 137,916 1,406 966 138,356 U.S. Treasury obligations 2,342 50 — 2,392 Total $ 171,449 $ 1,456 $ 1,312 $ 171,593 For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss June 25, 2022 Asset-backed securities $ 18,369 $ 2,135 $ — $ — $ 18,369 $ 2,135 Corporate bonds and direct obligations of government agencies 90,412 5,659 15,412 1,445 105,824 7,104 U.S. Treasury obligations 2,280 62 — — 2,280 62 Total $ 111,061 $ 7,856 $ 15,412 $ 1,445 $ 126,473 $ 9,301 December 25, 2021 Asset-backed securities $ 22,095 $ 346 $ — $ — $ 22,095 $ 346 Corporate bonds and direct obligations of government agencies 72,526 966 — — 72,526 966 Total $ 94,621 $ 1,312 $ — $ — $ 94,621 $ 1,312 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	6 Months Ended
	Jun. 25, 2022
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 These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives or other 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, the Company applies a portfolio approach for determining the incremental borrowing rate. The components of lease cost for finance leases and operating leases for the twenty six weeks ended June 25, 2022 were (in thousands): Finance leases: Amortization of right-of-use $ 10,792 Interest on lease liability 1,351 Total finance lease cost 12,143 Operating leases: Lease cost 1,757 Variable lease cost — Sublease income (2,524 ) Total net operating lease income (767 ) Total net lease cost $ 11,376 A summary of the lease classification on our consolidated balance sheet as of June 25, 2022 is as follows (in thousands): Assets: Operating lease right-of-use Other assets $ 1,743 Finance lease assets Operating property, less accumulated depreciation and amortization 148,084 Total lease assets $ 149,827 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 June 25, 2022 (in thousands): Finance Leases Operating Leases 2022 Remainder $ 20,806 $ 388 2023 35,904 639 2024 26,048 535 2025 19,838 284 2026 11,698 — Thereafter 1,884 — Total future minimum lease payments 116,178 1,846 Less amount representing interest (1.6% to 4.6%) 5,352 103 Present value of minimum lease payments $ 110,826 $ 1,743 Current maturities of long-term debt 36,827 Long-term debt, excluding current maturities 73,999 Other current liabilities 712 Deferred income taxes and other noncurrent liabilities 1,031 The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 25, 2022 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.6 2.8 Weighted average discount rate 2.8 % 4.0 %

Debt

Debt	6 Months Ended
	Jun. 25, 2022
Debt	(10) Debt Other than finance lease obligations as presented on the consolidated balance sheets, the Company had no outstanding debt as of June 25, 2022 and December 25, 2021. 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 “First Amended and Restated Credit Agreement”). As previously disclosed in a Form 8-K that superseded and replaced the First Amended and Restated Credit Agreement. The Second Amended and Restated Credit Agreement, which matures July 1, 2027, provides for borrowing capacity in the form of a revolving credit facility of of which may be utilized in the form of letters of credit. The Second Amended and Restated Credit Agreement also includes an “accordion” feature providing for a possible increase of up to an aggregate amount of borrowing capacity of The Second Amended and Restated Credit Agreement, which superseded and replaced the First Amended and Restated Credit Agreement, is referred to herein as the “Credit Agreement.” As of June 25, 2022, there were no borrowings outstanding under the revolving credit facility of the Credit Agreement. The revolving credit loans under the Credit Agreement, at the option of Landstar, bear interest at (i) a forward-looking term rate based on the secured overnight financing rate plus 0.10% and 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 0.20% to 0.30%, based on the Company’s Leverage Ratio at the end of the most recent applicable fiscal quarter for which financial statements have been delivered. 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 described 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 to 1 on a pro forma basis as of the end of the Company’s most recently completed fiscal quarter. The Credit Agreement provides for an event of default in the event that, among other things, a person or group acquires 35% or more of the outstanding capital stock of the Company or obtains power to elect a majority of the Company’s directors or the directors cease to consist of a majority of Continuing Directors, as defined in the Credit Agreement. None of these covenants are presently considered by management to be materially restrictive to the Company’s operations, capital resources or liquidity. The Company is currently in compliance with all of the debt covenants under the Credit Agreement. 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	6 Months Ended
	Jun. 25, 2022
Commitments and Contingencies	(11) Commitments and Contingencies Short-term investments include $41,549,000 in current maturities of investments held by the Company’s insurance segment at June 25, 2022. 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.

Equity Investment

Equity Investment	6 Months Ended
	Jun. 25, 2022
Equity Securities without Readily Determinable Fair Value, Annual Amount [Abstract]
Equity investment	(12) Equity investment On April 1, 2022, Landstar Investment Holdco, LLC, a newly formed Delaware LLC and wholly-owned subsidiary of Landstar System Holdings, Inc., purchased Class A units of Cavnue, LLC, for approximately $4,999,000 in cash consideration. Cavnue, LLC is a privately held company focused on combining technology and road infrastructure to unlock the full potential of connected and autonomous vehicles. This non-controlling investment in units of Cavnue, LLC, is considered an investment in non-marketable non-marketable

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week Twenty Six Weeks Ended Thirteen Weeks Ended Mode June 25, 2022 June 26, 2021 June 25, 2022 June 26, 2021 Truck – BCO Independent Contractors 36 % 42 % 35 % 41 % Truck – Truck Brokerage Carriers 53 % 50 % 54 % 51 % Rail intermodal 2 % 3 % 2 % 3 % Ocean and air cargo carriers 8 % 4 % 8 % 4 % Truck Equipment Type Van equipment $ 2,108,143 $ 1,583,911 $ 1,026,938 $ 854,509 Unsided/platform equipment $ 883,032 $ 689,378 $ 474,274 $ 391,893 Less-than-truckload $ 70,651 $ 54,732 $ 36,931 $ 29,062 Other truck transportation (1) $ 436,656 $ 309,655 $ 209,055 $ 168,723 (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)	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week Twenty Six Weeks Ended Thirteen Weeks Ended Mode June 25, 2022 June 26, 2021 June 25, 2022 June 26, 2021 Truck – BCO Independent Contractors 36 % 42 % 35 % 41 % Truck – Truck Brokerage Carriers 53 % 50 % 54 % 51 % Rail intermodal 2 % 3 % 2 % 3 % Ocean and air cargo carriers 8 % 4 % 8 % 4 % Truck Equipment Type Van equipment $ 2,108,143 $ 1,583,911 $ 1,026,938 $ 854,509 Unsided/platform equipment $ 883,032 $ 689,378 $ 474,274 $ 391,893 Less-than-truckload $ 70,651 $ 54,732 $ 36,931 $ 29,062 Other truck transportation (1) $ 436,656 $ 309,655 $ 209,055 $ 168,723 (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)	6 Months Ended
	Jun. 25, 2022
Amounts Recognized in Financial Statements with Respect to Plans	Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands): Twenty Six Weeks Thirteen Weeks June 25, 2022 June 26, 2021 June 25, 2022 June 26, 2021 Total cost of the Plans during the period $ 5,810 $ 10,893 $ 3,815 $ 6,864 Amount of related income tax benefit recognized during the period (4,270 ) (3,717 ) (910 ) (2,376 ) Net cost of the Plans during the period $ 1,540 $ 7,176 $ 2,905 $ 4,488
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 25, 2021 209,399 $ 102.90 Granted 49,596 $ 139.67 Shares earned in excess of target (1) 91,497 $ 92.58 Vested shares, including shares earned in excess of target (174,366 ) $ 96.14 Forfeited (16,768 ) $ 105.35 Outstanding at June 25, 2022 159,358 $ 115.55 (1) Represents additional shares earned under each of the February 2, 2017; February 2, 2018 and February 1, 2019 RSU awards as fiscal year 2021 financial results exceeded target performance level.
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 56,436 $ 125.16 Granted 23,791 $ 153.11 Vested (27,074 ) $ 122.68 Forfeited (2,302 ) $ 108.59 Non-vested 50,851 $ 140.31
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 per Share Weighted Average Term (years) Aggregate Intrinsic Options outstanding at December 25, 2021 8,570 $ 55.42 Exercised (3,500 ) $ 54.01 Options outstanding at June 25, 2022 5,070 $ 56.40 0.6 $ 464 Options exercisable at June 25, 2022 5,070 $ 56.40 0.6 $ 464

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 25, 2022
Information Regarding Reportable Business Segments	The following table summarizes information about the Company’s reportable business segments as of and for the twenty-six-week Twenty Six Weeks Ended June 25, 2022 June 26, 2021 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 3,906,558 $ 39,105 $ 3,945,663 $ 2,823,557 $ 34,695 $ 2,858,252 Internal revenue 52,870 52,870 43,495 43,495 Investment income 1,307 1,307 1,432 1,432 Operating income 291,890 21,361 313,251 199,960 25,556 225,516 Expenditures on long-lived assets 7,467 7,467 9,000 9,000 Goodwill 40,977 40,977 40,973 40,973 Thirteen Weeks Ended June 25, 2022 June 26, 2021 Transportation Logistics Insurance Total Transportation Logistics Insurance Total External revenue $ 1,955,219 $ 19,845 $ 1,975,064 $ 1,553,058 $ 17,660 $ 1,570,718 Internal revenue 39,986 39,986 33,961 33,961 Investment income 586 586 748 748 Operating income 139,944 10,474 150,418 110,228 12,020 122,248 Expenditures on long-lived assets 3,858 3,858 4,924 4,924

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 25, 2022
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 twenty-six-week Unrealized Available-for-Sale Foreign Total Balance as of December 25, 2021 $ 113 $ (5,516) $ (5,403) Other comprehensive (loss) income (7,391) 473 (6,918) Balance as of June 25, 2022 $ (7,278) $ (5,043) $ (12,321)

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 25, 2022
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 June 25, 2022 Money market investments $ 25,368 $ — $ — $ 25,368 Asset-backed securities 20,504 — 2,135 18,369 Corporate bonds and direct obligations of government agencies 124,513 29 7,104 117,438 U.S. Treasury obligations 2,342 — 62 2,280 Total $ 172,727 $ 29 $ 9,301 $ 163,455 December 25, 2021 Money market investments $ 8,750 $ — $ — $ 8,750 Asset-backed securities 22,441 — 346 22,095 Corporate bonds and direct obligations of government agencies 137,916 1,406 966 138,356 U.S. Treasury obligations 2,342 50 — 2,392 Total $ 171,449 $ 1,456 $ 1,312 $ 171,593
Schedule of Unrealized Loss on Available-for-Sale Investments	For those available-for-sale Less than 12 months 12 months or longer Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss June 25, 2022 Asset-backed securities $ 18,369 $ 2,135 $ — $ — $ 18,369 $ 2,135 Corporate bonds and direct obligations of government agencies 90,412 5,659 15,412 1,445 105,824 7,104 U.S. Treasury obligations 2,280 62 — — 2,280 62 Total $ 111,061 $ 7,856 $ 15,412 $ 1,445 $ 126,473 $ 9,301 December 25, 2021 Asset-backed securities $ 22,095 $ 346 $ — $ — $ 22,095 $ 346 Corporate bonds and direct obligations of government agencies 72,526 966 — — 72,526 966 Total $ 94,621 $ 1,312 $ — $ — $ 94,621 $ 1,312

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 25, 2022
Lease, Cost [Table Text Block]	The components of lease cost for finance leases and operating leases for the twenty six weeks ended June 25, 2022 were (in thousands): Finance leases: Amortization of right-of-use $ 10,792 Interest on lease liability 1,351 Total finance lease cost 12,143 Operating leases: Lease cost 1,757 Variable lease cost — Sublease income (2,524 ) Total net operating lease income (767 ) Total net lease cost $ 11,376
Schedule Of Supplemental Balance Sheet Information Related To Leases [Table Text Block]	A summary of the lease classification on our consolidated balance sheet as of June 25, 2022 is as follows (in thousands): Assets: Operating lease right-of-use Other assets $ 1,743 Finance lease assets Operating property, less accumulated depreciation and amortization 148,084 Total lease assets $ 149,827
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 June 25, 2022 (in thousands): Finance Leases Operating Leases 2022 Remainder $ 20,806 $ 388 2023 35,904 639 2024 26,048 535 2025 19,838 284 2026 11,698 — Thereafter 1,884 — Total future minimum lease payments 116,178 1,846 Less amount representing interest (1.6% to 4.6%) 5,352 103 Present value of minimum lease payments $ 110,826 $ 1,743 Current maturities of long-term debt 36,827 Long-term debt, excluding current maturities 73,999 Other current liabilities 712 Deferred income taxes and other noncurrent liabilities 1,031
Schedule Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets [Table Text Block]	The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 25, 2022 were: Finance Leases Operating Leases Weighted average remaining lease term (years) 3.6 2.8 Weighted average discount rate 2.8 % 4.0 %

Schedule Of Revenue By Major Cu

Schedule Of Revenue By Major Customers By Reporting Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,975,064	$ 1,570,718	$ 3,945,663	$ 2,858,252
BCO Independent Contractors – Truck
Disaggregation of Revenue [Line Items]
Percentage of consolidated revenue	35%	41%	36%	42%
Brokerage Carriers - Truck
Disaggregation of Revenue [Line Items]
Percentage of consolidated revenue	54%	51%	53%	50%
Rail Intermodal
Disaggregation of Revenue [Line Items]
Percentage of consolidated revenue	2%	3%	2%	3%
Ocean and air cargo carriers
Disaggregation of Revenue [Line Items]
Percentage of consolidated revenue	8%	4%	8%	4%
BCO Independent Contractor Truck and Brokerage Carriers Truck | Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 1,026,938	$ 854,509	$ 2,108,143	$ 1,583,911
BCO Independent Contractor Truck and Brokerage Carriers Truck | Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	474,274	391,893	883,032	689,378
BCO Independent Contractor Truck and Brokerage Carriers Truck | Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	36,931	29,062	70,651	54,732
BCO Independent Contractor Truck and Brokerage Carriers Truck | Other Truck Transportation
Disaggregation of Revenue [Line Items]
Revenue	$ 209,055	$ 168,723	$ 436,656	$ 309,655

Share-based Payment Arrangeme_3

Share-based Payment Arrangements - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefit from stock-based awards	$ 2,844,000	$ 1,038,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation (benefit)/expense	4,203,000	9,249,000
Unrecognized compensation cost, other than options	$ 23,900,000
Unrecognized compensation cost expected to be recognized over period, years	3 years 9 months 18 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	$ 5,692,000
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 2022 DSCP, 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	$ 369,000	$ 521,000
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%
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	3,233,908
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 previously reserved for issuance	56,502
Number of shares available for grant	0
2022 Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance	200,000
Common stock reserved for issuance	193,217
2022 Directors Stock Compensation Plan | Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting percentage	100%

Amounts Recognized in Financial

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 3,815	$ 6,864	$ 5,810	$ 10,893
Amount of related income tax benefit recognized during the period	(910)	(2,376)	(4,270)	(3,717)
Net cost of the Plans during the period	$ 2,905	$ 4,488	$ 1,540	$ 7,176

Schedule of Information on Rest

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 25, 2022 $ / shares shares
Number of Shares
Beginning Balance | shares	209,399
Granted | shares	49,596
Shares earned in excess of target | shares	91,497
Vested shares, including shares earned in excess of target | shares	(174,366)
Forfeited | shares	(16,768)
Ending Balance | shares	159,358
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 102.9
Granted | $ / shares	139.67
Shares earned in excess of target | $ / shares	92.58
Vested shares, including shares earned in excess of target | $ / shares	96.14
Forfeited | $ / shares	105.35
Ending Balance | $ / shares	$ 115.55

Schedule of Information on Non

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	6 Months Ended
	Jun. 25, 2022 $ / shares shares
Number of Shares and Deferred Stock Units
Beginning Balance | shares	56,436
Granted | shares	23,791
Vested | shares	(27,074)
Forfeited | shares	(2,302)
Ending Balance | shares	50,851
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 125.16
Granted | $ / shares	153.11
Vested | $ / shares	122.68
Forfeited | $ / shares	108.59
Ending Balance | $ / shares	$ 140.31

Summary of Information Regardin

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 25, 2022 USD ($) $ / shares shares
Number of Options
Beginning Balance, number of options | shares	8,570
Exercised, number of options | shares	(3,500)
Ending Balance, number of options | shares	5,070
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share | $ / shares	$ 55.42
Exercised, Weighted Average Exercise Price per Share | $ / shares	54.01
Ending Balance, Weighted Average Exercise Price per Share | $ / shares	$ 56.4
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options | shares	5,070
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share | $ / shares	$ 56.4
Weighted Average Remaining Contractual Term (years)
Options outstanding at June 25, 2022	7 months 6 days
Options exercisable at June 25, 2022	7 months 6 days
Aggregate Intrinsic Value
Options outstanding at June 25, 2022 | $	$ 464
Options exercisable at June 25, 2022 | $	$ 464

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Income Taxes [Line Items]
Corporate income tax rate	21%	21%
Estimated annual effective income tax rate	24.50%	24.40%
Effective income tax rate	23.70%	24.10%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from calculation of diluted earnings per share, antidilutive	0	0

Additional Cash Flow Informat_2

Additional Cash Flow Information - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 95,730,000	$ 51,679,000
Interest paid	2,098,000	1,883,000
Capital Lease Obligations Incurred	$ 18,073,000	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Customer	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
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%	10%

Information Regarding Reportabl

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021	Dec. 25, 2021
Segment Reporting Information [Line Items]
External revenue	$ 1,975,064	$ 1,570,718	$ 3,945,663	$ 2,858,252
Internal revenue	39,986	33,961	52,870	43,495
Investment income	586	748	1,307	1,432
Operating income	150,418	122,248	313,251	225,516
Expenditures on long-lived assets	3,858	4,924	7,467	9,000
Goodwill	40,977	40,973	40,977	40,973	$ 40,768
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	1,955,219	1,553,058	3,906,558	2,823,557
Operating income	139,944	110,228	291,890	199,960
Expenditures on long-lived assets	3,858	4,924	7,467	9,000
Goodwill	40,977	40,973	40,977	40,973
Insurance
Segment Reporting Information [Line Items]
External revenue	19,845	17,660	39,105	34,695
Internal revenue	39,986	33,961	52,870	43,495
Investment income	586	748	1,307	1,432
Operating income	$ 10,474	$ 12,020	$ 21,361	$ 25,556

Components of and Changes in Ac

Components of and Changes in Accumulated Other Comprehensive Income, Net of Related Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ 862,010
Other comprehensive (loss) income	$ (3,006)	$ 1,101	(6,918)	$ 147
Ending Balance	856,870		856,870
Unrealized Holding Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			113
Other comprehensive (loss) income			(7,391)
Ending Balance	(7,278)		(7,278)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(5,516)
Other comprehensive (loss) income			473
Ending Balance	(5,043)		(5,043)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(5,403)
Other comprehensive (loss) income			(6,918)
Ending Balance	$ (12,321)		$ (12,321)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 25, 2022	Dec. 25, 2021
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	$ (9,272,000)	$ 144,000

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 172,727	$ 171,449
Gross Unrealized Gains	29	1,456
Gross Unrealized Losses	9,301	1,312
Fair Value	163,455	171,593
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	25,368	8,750
Fair Value	25,368	8,750
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	20,504	22,441
Gross Unrealized Losses	2,135	346
Fair Value	18,369	22,095
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	124,513	137,916
Gross Unrealized Gains	29	1,406
Gross Unrealized Losses	7,104	966
Fair Value	117,438	138,356
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,342	2,342
Gross Unrealized Gains		50
Gross Unrealized Losses	62
Fair Value	$ 2,280	$ 2,392

Schedule of Unrealized Loss on

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 111,061	$ 94,621
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	7,856	1,312
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	15,412
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	1,445
Available-for-sale investments with unrealized losses, Fair Value, Total	126,473	94,621
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	9,301	1,312
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	18,369	22,095
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	2,135	346
Available-for-sale investments with unrealized losses, Fair Value, Total	18,369	22,095
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	2,135	346
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	90,412	72,526
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	5,659	966
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value	15,412
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss	1,445
Available-for-sale investments with unrealized losses, Fair Value, Total	105,824	72,526
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	7,104	$ 966
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	2,280
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	62
Available-for-sale investments with unrealized losses, Fair Value, Total	2,280
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 62

Leases - Additional Information

Leases - Additional Information (Detail)	Jun. 25, 2022 USD ($)
Leases Disclosure [Line Items]
Finance Lease Option to Purchase Option Value	$ 1
Lessee, Finance Lease, Term of Contract	5 years

Leases - Components of Lease Co

Leases - Components of Lease Cost for Finance Leases and Operating Leases (Detail) $ in Thousands	6 Months Ended
	Jun. 25, 2022 USD ($)
Finance leases:
Amortization of right-of-use assets	$ 10,792
Interest on lease liability	1,351
Total finance lease cost	12,143
Operating leases:
Lease cost	1,757
Sublease income	(2,524)
Total net operating lease income	(767)
Total net lease cost	$ 11,376

Leases - Classification on our

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Jun. 25, 2022 USD ($)
Total lease assets	$ 149,827
Other Assets [Member]
Operating lease right-of-use assets	1,743
Property Plant and Equipment Net [Member]
Finance lease assets	$ 148,084

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Operating Leased Assets [Line Items]
2022 Remainder	$ 20,806
2023	35,904
2024	26,048
2025	19,838
2026	11,698
Thereafter	1,884
Total future minimum lease payments	116,178
Less amount representing interest (1.6% to 4.4%)	5,352
Present value of minimum lease payments	110,826
Current maturities of long-term debt	36,827	$ 36,561
Long-term debt, excluding current maturities	73,999
2022 Remainder	388
2023	639
2024	535
2025	284
2026	0
Total future minimum lease payments	1,846
Less amount representing interest (1.6% to 4.6%)	103
Present value of minimum lease payments	1,743
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	712
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 1,031

Leases - Undiscounted Cash Fl_2

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Jun. 25, 2022
Maximum [Member]
Finance lease Interest rate percentage	4.60%
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)	Jun. 25, 2022
Weighted average remaining lease term (years)	3 years 7 months 6 days
Weighted average discount rate	2.80%
Weighted average remaining lease term (years)	2 years 9 months 18 days
Weighted average discount rate	4%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)			6 Months Ended
	Jul. 01, 2022	Aug. 18, 2020	Jun. 25, 2022	Dec. 25, 2021
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Outstanding Excluding Capital Lease Obligations			$ 0	$ 0
Credit facility, initiation date		Aug. 18, 2020
Credit facility, debt covenants compliance			The Company is currently in compliance with all of the debt covenants under the Credit Agreement.
Revolving Credit Facility | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 600,000,000
Additional overnight secured financing rate	0.10%
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Credit facility event of default, minimum percentage that a person or group should acquire outstanding capital stock			35%
Revolving Credit Facility | Minimum | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, unused credit commitment fee	0.20%
Revolving Credit Facility | Minimum | Eurodollar [Member] | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate	1.25%
Revolving Credit Facility | Minimum | Base Rate [Member] | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate	0.25%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Maximum Leverage ratio beyond which amount of cash dividends and other distributions to stockholders is limited			250%
Revolving Credit Facility | Maximum | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 300,000,000
Credit facility, unused credit commitment fee	0.30%
Revolving Credit Facility | Maximum | Eurodollar [Member] | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate	2%
Revolving Credit Facility | Maximum | Base Rate [Member] | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings, basis spread on variable rate	1%
Letter of Credit | Second Amended and Restated Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 45,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jun. 25, 2022 USD ($)
Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 41,549,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	121,906,000
Non-Current Investments | Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	43,525,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	33,495,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 76,567,000

Equity investment - Additional

Equity investment - Additional Information (Detail)	Apr. 01, 2022 USD ($)
Cavnue, LLC [Member] | Landstar Investment Holdo LLC [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity method investments	$ 4,999,000