EXHIBIT 11.2 LANDSTAR SYSTEM, INC. AND SUBSIDIARY CALCULATION OF DILUTED EARNINGS PER SHARE (In thousands, except per share amounts) (Unaudited) Thirteen Weeks Ended --------------------------- March 25, March 27, 2000 1999 --------------------------- Net income $ 8,339 $ 7,475 ============ ============ Average number of common shares outstanding 9,169 10,368 Plus: Incremental shares from assumed exercise of stock options 202 123 ------------ ------------ Average number of common shares and common share equivalents outstanding 9,371 10,491 ============ ============ Diluted earnings per share $ 0.89 $ 0.71 ============ ============ 20