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Operating lease
right-of-use
assets

Other assets

Finance lease asset
s

Operating property, less accumulated depreciation and amortization

Total lease assets

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 27, 2020	Jul. 20, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Entity Central Index Key	0000853816
Document Transition Report	false
Current Fiscal Year End Date	--12-26
Document Period End Date	Jun. 27, 2020
Entity Registrant Name	LANDSTAR SYSTEM INC
Entity Filer Category	Large Accelerated Filer
Trading Symbol	LSTR
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,379,459
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 - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Current Assets
Cash and cash equivalents	$ 245,471	$ 319,515
Short-term investments	36,274	32,901
Trade accounts receivable, less allowance of $8,580 and $7,284	489,182	588,549
Other receivables, including advances to independent contractors, less allowance of $9,241 and $7,667	27,861	35,553
Other current assets	41,564	21,370
Total current assets	840,352	997,888
Operating property, less accumulated depreciation and amortization of $288,055 and $280,849	284,794	285,855
Goodwill	40,071	38,508
Other assets	106,893	105,460
Total assets	1,272,110	1,427,711
Current Liabilities
Cash overdraft	35,534	53,878
Accounts payable	273,324	271,996
Current maturities of long-term debt	38,219	42,632
Insurance claims	53,764	44,532
Dividends payable		78,947
Contractor escrow	25,774	24,902
Other current liabilities	46,845	36,017
Total current liabilities	473,460	552,904
Long-term debt, excluding current maturities	60,152	70,212
Insurance claims	34,762	33,575
Deferred income taxes and other noncurrent liabilities	54,615	49,551
Shareholders' Equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,176,787 and 68,083,419 shares	682	681
Additional paid-in capital	225,332	226,123
Retained earnings	2,012,173	1,962,161
Cost of 29,797,328 and 28,609,926 shares of common stock in treasury	(1,581,921)	(1,465,284)
Accumulated other comprehensive loss	(7,145)	(2,212)
Total shareholders' equity	649,121	721,469
Total liabilities and shareholders' equity	$ 1,272,110	$ 1,427,711

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Allowance on trade accounts receivable	$ 8,580	$ 7,284
Allowance on other receivables	9,241	7,667
Accumulated depreciation and amortization on operating property	$ 288,055	$ 280,849
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	160,000,000	160,000,000
Common stock, issued shares	68,176,787	68,083,419
Treasury stock, shares	29,797,328	28,609,926

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Revenue	$ 823,514	$ 1,045,040	$ 1,751,080	$ 2,078,040
Investment income	835	1,283	2,002	2,421
Costs and expenses:
Purchased transportation	635,133	799,371	1,344,390	1,591,126
Commissions to agents	75,266	87,623	150,642	173,294
Other operating costs, net of gains on asset sales/dispositions	7,368	9,861	15,674	18,100
Insurance and claims	19,751	16,286	44,708	31,279
Selling, general and administrative	40,601	41,297	85,928	82,565
Depreciation and amortization	11,467	11,034	22,972	22,350
Impairment of intangible and other assets	2,582		2,582
Total costs and expenses	792,168	965,472	1,666,896	1,918,714
Operating income	32,181	80,851	86,186	161,747
Interest and debt expense	976	709	1,928	1,514
Income before income taxes	31,205	80,142	84,258	160,233
Income taxes	6,951	19,042	19,109	35,833
Net income	24,254	61,100	65,149	124,400
Less: Net loss attributable to noncontrolling interest				(17)
Net income attributable to Landstar System, Inc. and subsidiary	$ 24,254	$ 61,100	$ 65,149	$ 124,417
Earnings per common share attributable to Landstar System, Inc. and subsidiary	$ 0.63	$ 1.53	$ 1.68	$ 3.11
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.63	$ 1.53	$ 1.68	$ 3.11
Average number of shares outstanding:
Earnings per common share	38,379,000	39,945,000	38,816,000	40,053,000
Diluted earnings per share	38,379,000	39,945,000	38,816,000	40,053,000
Dividends per common share	$ 0.185	$ 0.165	$ 0.370	$ 0.330

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Net income attributable to Landstar System, Inc. and subsidiary	$ 24,254	$ 61,100	$ 65,149	$ 124,417
Other comprehensive (loss) income:
Unrealized holding gains on available-for-sale investments, net of tax expense of $338, $494, $770 and $222	2,816	810	1,237	1,805
Foreign currency translation (losses) gains	1,732	571	(6,170)	1,125
Other comprehensive (loss) income	4,548	1,381	(4,933)	2,930
Comprehensive income attributable to Landstar System, Inc. and subsidiary	$ 28,802	$ 62,481	$ 60,216	$ 127,347

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Unrealized holding gains on available-for-sale investments, net of tax expense	$ 770	$ 222	$ 338	$ 494

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
OPERATING ACTIVITIES
Net income	$ 65,149	$ 124,400
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of operating property and intangible assets	22,972	22,350
Non-cash interest charges	126	126
Provisions for losses on trade and other accounts receivable	6,528	4,194
Gains on sales/disposals of operating property	(1,812)	(1,219)
Impairment of intangible and other assets	2,582
Deferred income taxes, net	6,228	5,060
Stock-based compensation	1,201	3,368
Changes in operating assets and liabilities:
Decrease in trade and other accounts receivable	99,601	89,820
Increase in other assets	(24,809)	(22,808)
Decrease in accounts payable	(31)	(28,565)
Increase (decrease) in other liabilities	10,231	(14,315)
Increase in insurance claims	10,419	1,665
NET CASH PROVIDED BY OPERATING ACTIVITIES	198,385	184,076
INVESTING ACTIVITIES
Net changes in other short-term investments	131
Sales and maturities of investments	14,897	41,345
Purchases of investments	(16,382)	(42,812)
Purchases of operating property	(17,676)	(9,224)
Proceeds from sales of operating property	4,465	3,219
Consideration paid for acquisition	(2,701)
NET CASH USED BY INVESTING ACTIVITIES	(17,266)	(7,472)
FINANCING ACTIVITIES
Decrease in cash overdraft	(18,344)	(11,719)
Dividends paid	(93,382)	(13,257)
Proceeds from exercises of stock options	614	343
Taxes paid in lieu of shares issued related to stock-based compensation plans	(3,280)	(8,438)
Purchases of common stock	(115,962)	(69,729)
Principal payments on finance lease obligations	(21,958)	(23,658)
Purchase of noncontrolling interest		(600)
NET CASH USED BY FINANCING ACTIVITIES	(252,312)	(127,058)
Effect of exchange rate changes on cash and cash equivalents	(2,851)	930
(Decrease) increase in cash and cash equivalents	(74,044)	50,476
Cash and cash equivalents at beginning of period	319,515	199,736
Cash and cash equivalents at end of period	$ 245,471	$ 250,212

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock at Cost	Accumulated Other Comprehensive (Loss) Income	Non-controlling Interests
Beginning Balance (in shares) at Dec. 29, 2018		67,870,962			27,755,001
Beginning Balance at Dec. 29, 2018	$ 689,133	$ 679	$ 226,852	$ 1,841,279	$ (1,376,111)	$ (5,875)	$ 2,309
Net income (loss)	63,300			63,317			(17)
Dividends	(6,629)			(6,629)
Purchases of common stock (in shares)					124,481
Purchases of common stock	(12,977)				$ (12,977)
Purchase of noncontrolling interests	(600)		1,842				(2,442)
Issuance of stock related to stock-based compensation plans (in shares)		176,079			5,199
Issuance of stock related to stock-based compensation plans	(7,604)	$ 1	(7,081)		$ (524)
Stock-based compensation	1,938		1,938
Other comprehensive (loss) income	1,699					1,549	150
Ending Balance (in shares) at Mar. 30, 2019		68,047,041			27,884,681
Ending Balance at Mar. 30, 2019	728,260	$ 680	223,551	1,897,967	$ (1,389,612)	(4,326)	0
Beginning Balance (in shares) at Dec. 29, 2018		67,870,962			27,755,001
Beginning Balance at Dec. 29, 2018	689,133	$ 679	226,852	1,841,279	$ (1,376,111)	(5,875)	2,309
Net income (loss)	124,400
Ending Balance (in shares) at Jun. 29, 2019		68,064,877			28,435,182
Ending Balance at Jun. 29, 2019	728,300	$ 681	224,550	1,952,439	$ (1,446,425)	(2,945)	0
Beginning Balance (in shares) at Mar. 30, 2019		68,047,041			27,884,681
Beginning Balance at Mar. 30, 2019	728,260	$ 680	223,551	1,897,967	$ (1,389,612)	(4,326)	0
Net income (loss)	61,100			61,100
Dividends	(6,628)			(6,628)
Purchases of common stock (in shares)					549,929
Purchases of common stock	(56,752)				$ (56,752)
Issuance of stock related to stock-based compensation plans (in shares)		17,836			572
Issuance of stock related to stock-based compensation plans	(491)	$ 1	(431)		$ (61)
Stock-based compensation	1,430		1,430
Other comprehensive (loss) income	1,381					1,381
Ending Balance (in shares) at Jun. 29, 2019		68,064,877			28,435,182
Ending Balance at Jun. 29, 2019	728,300	$ 681	224,550	1,952,439	$ (1,446,425)	(2,945)	$ 0
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)
Adoption of accounting standards (Note 14) \| Accounting Standards Update 2016-13	(702)			(702)
Net income (loss)	40,895			40,895
Dividends	(7,336)			(7,336)
Purchases of common stock (in shares)					1,178,970
Purchases of common stock	(115,962)				$ (115,962)
Issuance of stock related to stock-based compensation plans (in shares)		84,063			8,078
Issuance of stock related to stock-based compensation plans	(2,419)	$ 1	(1,781)		$ (639)
Stock-based compensation	631		631
Other comprehensive (loss) income	(9,481)					(9,481)
Ending Balance (in shares) at Mar. 28, 2020		68,167,482			29,796,974
Ending Balance at Mar. 28, 2020	627,095	$ 682	224,973	1,995,018	$ (1,581,885)	(11,693)
Beginning Balance (in shares) at Dec. 28, 2019		68,083,419			28,609,926
Beginning Balance at Dec. 28, 2019	721,469	$ 681	226,123	1,962,161	$ (1,465,284)	(2,212)
Net income (loss)	65,149
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)
Beginning Balance (in shares) at Mar. 28, 2020		68,167,482			29,796,974
Beginning Balance at Mar. 28, 2020	627,095	$ 682	224,973	1,995,018	$ (1,581,885)	(11,693)
Net income (loss)	24,254			24,254
Dividends	(7,099)			(7,099)
Issuance of stock related to stock-based compensation plans (in shares)		9,305			354
Issuance of stock related to stock-based compensation plans	(247)		(211)		$ (36)
Stock-based compensation	570		570
Other comprehensive (loss) income	4,548					4,548
Ending Balance (in shares) at Jun. 27, 2020		68,176,787			29,797,328
Ending Balance at Jun. 27, 2020	$ 649,121	$ 682	$ 225,332	$ 2,012,173	$ (1,581,921)	$ (7,145)

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Dividends per common share	$ 0.185	$ 0.185	$ 0.165	$ 0.165	$ 0.370	$ 0.330

Business Description

6 Months Ended

Jun. 27, 2020

Business Description and Basis of Presentation [Text Block]

The consolidated financial statements include the accounts of Landstar System, Inc. and its

subsidiary

, Landstar System Holdings, Inc., and reflect all adjustments (all of a normal, recurring nature) which are, in the opinion of management, necessary for a fair statement of the results for the periods presented. The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates. Landstar System, Inc. and its subsidiary are herein referred to as “Landstar” or the “Company.” Significant intercompany accounts have been eliminated in consolidation.

Significant Accounting Policies

6 Months Ended

Jun. 27, 2020

Significant Accounting Policies

(1)	Significant Accounting Policies

Revenue from Contracts with Customers – Disaggregation of Revenue

During the twenty six weeks ended June 27, 2020, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 46%, 46% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the

twenty-six-week

period ended June 27, 2020. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the

twenty-six-week

period ended June 27, 2020 was $1,028,334,000 hauled via van equipment, $533,716,000 hauled via unsided/platform equipment and $45,859,000 of less-than-truckload. During the twenty six weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 44%, 48% and 3%, respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the

twenty-six-week

period ended June 29, 2019. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the

twenty-six-week

period ended June 29, 2019 was $1,224,379,000 hauled via van equipment, $648,828,000 hauled via unsided/platform equipment and $48,108,000 of less-than-truckload.

During the thirteen weeks ended June 27, 2020, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 46%, 46% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 4% of the Company’s consolidated revenue in the thirteen-week period ended June 27, 2020. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 27, 2020 was $483,027,000 hauled via van equipment, $247,388,000 hauled via unsided/platform equipment and $22,918,000 of less-than-truckload. During the thirteen weeks ended June 29, 2019, revenue generated by BCO Independent Contractors, Truck Brokerage Carriers and railroads represented approximately 45%, 47% and 3% respectively, of the Company’s consolidated revenue. Collectively, revenue generated by air and ocean cargo carriers represented approximately 3% of the Company’s consolidated revenue in the thirteen-week period ended June 29, 2019. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the thirteen-week period ended June 29, 2019 was $605,365,000 hauled via van equipment, $338,107,000 hauled via unsided/platform equipment and $24,732,000 of less-than-truckload.

Acquired Business

6 Months Ended

Jun. 27, 2020

Acquired Business

(2)	Acquired Business

On May 6, 2020, Landstar System Holdings, Inc. formed a new subsidiary that was subsequently renamed Landstar Blue, LLC (“Landstar Blue”). Landstar Blue arranges truckload brokerage services while helping the Company to develop and test digital technologies and processes for the benefit of all Landstar independent commission sales agents. On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. Cash consideration paid for the acquisition was approximately

2,701

000

In addition, the Company assumed approximately $200,000 in liabilities consisting of additional contingent purchase price. The resulting goodwill arising from the acquisition was approximately

2,807,000

With respect to this goodwill, 100% is expected to be deductible by the Company for U.S. income tax purposes. Pro fo

ma financial information for prior periods is not presented as the Company does not believe the acquisition to be material to the Company’s consolidated results. The results of operations for Landstar Blue are presented as part of the Company’s transportations logistics segment. Transaction costs for the acquisition were insignificant.

Share-based Payment Arrangements

6 Months Ended

Jun. 27, 2020

Share-based Payment Arrangements

(3)	Share-based Payment Arrangements

As of June 27, 2020, the Company had two employee equity incentive plans, the 2002 employee stock option and stock incentive plan (the “ESOSIP”) and the 2011 equity incentive plan (the “2011 EIP”). No further grants can be made under the ESOSIP. The Company also has a stock compensation plan for members of its Board of Directors, the Amended and Restated 2013 Directors Stock Compensation Plan (as amended and restated as of May 17, 2016, the “2013 DSCP”). 6,000,000 shares of the Company’s common stock were 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 ESOSIP, 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):


	Twenty Six Weeks Ended						Thirteen Weeks Ended
	June 27, 2020			June 29, 2019			June 27, 2020			June 29, 2019
Total cost of the Plans during the period	$	1,201		$	3,368		$	570		$	1,430
Amount of related income tax benefit recognized during the period		(1,135	)		(3,734	)		(262	)		(672	)

Net cost of the Plans during the period	$	66		$	(366	)	$	308		$	758

Included in income tax benefits recognized in the

twenty-six-week

periods ended June 27, 2020 and June 29, 2019 were excess tax benefits from stock-based awards of $829,000 and $2,871,000, respectively.

As of June 27, 2020, there were 60,586 shares of the Company’s common stock reserved for issuance under the 2013 DSCP and 3,683,524 shares of the Company’s common stock reserved for issuance in the aggregate under the ESOSIP and 2011 EIP.

Restricted Stock Units

The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards with either a performance condition or a market condition under the Plans:


	Number of RSUs			Weighted Average Grant Date Fair Value
Outstanding at December 28, 2019		198,875		$	84.37
Granted		59,478		$	102.66
Shares earned in excess of target (1)		11,648		$	77.00
Vested shares, including shares earned in excess of target		(76,290	)	$	73.44
Forfeited		(10,987	)	$	100.55

Outstanding at June 27, 2020		182,724		$	93.44

(1)	Represents shares earned in excess of target under the February 2, 2017 RSU awards as actual results exceeded the target under the awards as a result of fiscal year 2019 results.

During the

twenty-six-week

period ended June 27, 2020, the Company granted RSUs with a performance condition. Outstanding RSUs at both December 28, 2019 and June 27, 2020 include RSUs with a performance condition and RSUs with a market condition, as further described below and in the Company’s 2019 Annual Report on Form

10-K.

RSUs with a performance condition granted on January 31, 2020 may vest on

January

31 of 2023, 2024 and 2025 based on growth in operating income and

pre-tax

income per diluted share from continuing operations attributable to Landstar System, Inc. and subsidiary as compared to the results from the 2019 fiscal year.

The Company recognized approximately ($308,000) and $2,062,000 of share-based compensation (benefit)/expense related to RSU awards in the

twenty-six-week

periods ended June 27, 2020 and June 29, 2019, respectively. As of June 27, 2020, there was a maximum of $35.3 million of total unrecognized compensation cost related to RSU awards granted under the Plans with an expected average remaining life of approximately 3.3 years. With respect to RSU awards with a performance condition, the amount of future compensation expense to be recognized will be determined based on future operating results.

Stock Options

The following table summarizes information regarding the Company’s outstanding stock options under the Plans:


	Number of Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (000s)
Options outstanding at December 28, 2019		44,467		$	51.24
Exercised		(16,517	)	$	47.70

Options outstanding at June 27, 2020		27,950		$	53.33		2.1	$	1,514
Options exercisable at June 27, 2020		27,950		$	53.33		2.1	$	1,514

The total intrinsic value of stock options exercised during the

twenty-six-week

periods ended June 27, 2020 and June 29, 2019 was $1,071,000 and $1,269,000, respectively.

As of June 27, 2020, there was no unrecognized compensation cost related to stock options granted under the Plans.

Non-vested

Restricted Stock and Deferred Stock Units

The following table summarizes information regarding the Company’s outstanding shares of

non-vested

restricted stock and Deferred Stock Units (defined below) under the Plans:


	Number of Shares and Deferred Stock Units			Weighted Average Grant Date Fair Value
Non-vested at December 28, 2019		64,808		$	98.24
Granted		26,604		$	111.88
Vested		(27,619	)	$	98.91
Forfeited		(2,351	)	$	106.34

Non-vested at June 27, 2020		61,442		$	103.54

The fair value of each share of

non-vested

restricted stock issued and Deferred Stock Unit granted under the Plans is based on the fair value of a share of the Company’s common stock on the date of grant. Shares of

non-vested

restricted stock are generally subject to vesting in three equal annual installments either on the first, second and third anniversary of the date of the grant or the third, fourth and fifth anniversary of the date of the grant, or 100% on the first or fifth anniversary of the date of the grant. For restricted stock awards granted under the 2013 DSCP plan, each recipient may elect to defer receipt of shares and instead receive restricted stock units (“Deferred Stock Units”), which represent contingent rights to receive shares of the Company’s common stock on the date of recipient separation from service from the Board of Directors, or, if earlier, upon a change in control event of the Company. Deferred Stock Units become vested 100% on the first anniversary of the date of the grant. Deferred Stock Units do not represent actual ownership in shares of the Company’s common stock and the recipient does not have voting rights or other incidents of ownership until the shares are issued. However, Deferred Stock Units do contain the right to receive dividend equivalent payments prior to settlement into shares.

As of June 27, 2020, there was $4,841,000 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 2.1 years.

Income Taxes

6 Months Ended

Jun. 27, 2020

Income Taxes

(4)	Income Taxes

The provisions for income taxes for the 2020 and 2019

twenty-six-week

periods were each based on an estimated annual effective income tax rate of 24.2%, adjusted for discrete events, such as benefits resulting from stock-based awards. The effective income tax rate for the 2020

twenty-six-week

period was 22.7%, 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 state tax refunds and excess tax benefits realized on stock

based awards. The effective income tax rate for the 2019

twenty-six-week

period was 22.4%, 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

. The provision for income taxes for the 2019

twenty-six-week

period was favorably impacted by $2,871,000 of excess tax benefits from stock-based awards.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings Per Share

6 Months Ended

Jun. 27, 2020

Earnings Per Share

(5)	Earnings Per Share

Earnings per common share attributable to Landstar System, Inc. and subsidiary are based on the weighted average number of shares outstanding, including outstanding non-vested restricted stock and outstanding Deferred Stock Units. Diluted earnings per share attributable to Landstar System, Inc. and subsidiary are based on the weighted average number of common shares and Deferred Stock Units outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options. During the 2020 and 2019 twenty-six-week and thirteen-week periods

the future compensation cost attributable to

shares of

non-vested restricted stock

exceeded

the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options.

For each of the

twenty-six-week

periods ended June 27, 2020 and June 29, 2019, no options outstanding to purchase shares of common stock were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share attributable to Landstar System, Inc. and subsidiary for all periods because the performance metric requirements or market condition for vesting had not been satisfied.

Additional Cash Flow Information

6 Months Ended

Jun. 27, 2020

Additional Cash Flow Information

(6)	Additional Cash Flow Information

During the 2020

twenty-six-week

period, Landstar paid income taxes and interest of $16,198,000 and $2,057,000, respectively. During the 2019

twenty-six-week

period, Landstar paid income taxes and interest of $39,180,000 and $2,286,000, respectively. Landstar acquired operating property by entering into finance leases in the amount of $7,485,000 in the 2020

twenty-six-week

period. Landstar did not acquire any operating property by entering into finance leases in the 2019

twenty-six-week

periods. In addition, during the 2020

twenty-six-week

period, Landstar acquired

1,440,000 of operating property for which the Comp

ny accrued a corresponding liability in accounts payable as of June 27, 2020. Capital expenditures are recorded as cash outflows from investing activities in the consolidated statement of cash flows in the period in which they are paid.

Segment Information

6 Months Ended

Jun. 27, 2020

Segment Information

(7)	Segment Information

The following table summarizes information about the Company’s reportable business segments as of and for the

twenty-six-week

and thirteen week periods ended June 27, 2020 and June 29, 2019 (in thousands):


	Twenty Six Weeks Ended
	June 27, 2020						June 29, 2019
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	1,723,682	$	27,398	$	1,751,080	$	2,049,777	$	28,263	$	2,078,040
Internal revenue				35,834		35,834				27,367		27,367
Investment income				2,002		2,002				2,421		2,421
Operating income		76,518		9,668		86,186		135,919		25,828		161,747
Expenditures on long-lived assets		17,676				17,676		9,224				9,224
Goodwill		40,071				40,071		38,407				38,407

	Thirteen Weeks Ended
	June 27, 2020						June 29, 2019
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	809,798	$	13,716	$	823,514	$	1,030,816	$	14,224	$	1,045,040
Internal revenue				26,755		26,755				17,753		17,753
Investment income				835		835				1,283		1,283
Operating income		21,474		10,707		32,181		68,336		12,515		80,851
Expenditures on long-lived assets		11,877				11,877		4,648				4,648

In the

twenty-six-week

periods ended June 27, 2020 and June 29, 2019, no single customer accounted for more than 10% of the Company’s consolidated revenue.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Comprehensive Income

6 Months Ended

Jun. 27, 2020

Other Comprehensive Income

(8)	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

period ended June 27, 2020 (in thousands):


	Unrealized Holding Gains on Available-for-Sale Securities		Foreign Currency Translation			Total
Balance as of December 28, 2019	$	1,120	$	(3,332	)	$	(2,212	)
Other comprehensive gain (loss)		1,237		(6,170	)		(4,933	)

Balance as of June 27, 2020	$	2,357	$	(9,502	)	$	(7,145	)

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

period ended June 27, 2020.

Investments

6 Months Ended

Jun. 27, 2020

Investments

(9)	Investments

Investments include primarily investment-grade corporate bonds and U.S. Treasury obligations having maturities of up to five years (the “bond portfolio”) and money market investments. Investments in the bond portfolio are reported as

available-for-sale

and are carried at fair value. Investments maturing less than one year from the balance sheet date are included in short-term investments and investments maturing more than one year from the balance sheet date are included in other assets in the consolidated balance sheets. Management performs an analysis of the nature of the unrealized losses on

available-for-sale

investments to determine whether an allowance for credit loss is necessary. Unrealized losses, representing the excess of the purchase price of an investment over its fair value as of the end of a period, considered to be a result of credit-related factors, are to be included as a charge in the statement of income, while unrealized losses considered to be a result of noncredit-related factors are to be included as a component of shareholders’ equity. Investments whose values

are based on quoted market prices in active markets are classified within Level 1. Investments that trade in markets that are not considered to be active, but are valued based on quoted market prices, are classified within Level 2. As Level 2 investments include positions that are not traded in active markets, valuations may be adjusted to reflect illiquidity and/or

non-transferability,

which are generally based on available market information. Any transfers between levels are recognized as of the beginning of any reporting period. Fair value of the bond portfolio was determined using Level 1 inputs related to U.S. Treasury obligations and money market investments and Level 2 inputs related to investment-grade corporate bonds, asset-backed securities and direct obligations of government agencies. Unrealized gains, net of unrealized losses, on the investments in the bond portfolio were $3,002,000 and $1,427,000 at June 27, 2020 and December 28, 2019, respectively.

The amortized cost and fair values of

available-for-sale

investments are as follows at June 27, 2020 and December 28, 2019 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 27, 2020
Money market investments	$	14,038	$	—	$	—	$	14,038
Asset-backed securities		569		—		84		485
Corporate bonds and direct obligations of
government agencies		100,722		3,261		316		103,667
U.S. Treasury obligations		2,337		141		—		2,478

Total	$	117,666	$	3,402	$	400	$	120,668

December 28, 2019
Money market investments	$	15,691	$	—	$	—	$	15,691
Asset-backed securities		572		—		1		571
Corporate bonds and direct obligations of
government agencies		97,583		1,465		44		99,004
U.S. Treasury obligation s		2,335		12		5		2,342

Total	$	116,181	$	1,477	$	50	$	117,608

For those

available-for-sale

investments with unrealized losses at June 27, 2020 and December 28, 2019, the following table summarizes the duration of the unrealized loss (in thousands):


	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
June 27, 2020
Asset-backed securities	$	485	$	84	$	—	$	—	$	485	$	84
Corporate bonds and direct obligations of government agencies		4,937		316		—		—		4,937		316

Total	$	5,422	$	400	$	—	$	—	$	5,422	$	400

December 28, 2019
Asset-backed securities	$	571	$	1	$	—	$	—	$	571	$	1
Corporate bonds and direct obligations of government agencies		8,728		41		4,260		3		12,988		44
U.S. Treasury obligation s		1,226		5		—		—		1,226		5

Total	$	10,525	$	47	$	4,260	$	3	$	14,785	$	50

The Company expects to recover, through collection of all of the contractual cash flows of each security, the amortized cost basis of these securities as it does not intend to sell, and does not anticipate being required to sell, these securities before recovery of the cost basis. For these reasons, no losses have been recognized in the Company’s consolidated statements of income.

Leases

6 Months Ended

Jun. 27, 2020

Leases

(10) Leases

Landstar’s noncancelable leases are primarily comprised of finance leases for the acquisition of new trailing equipment. Each finance lease for the acquisition of trailing equipment is a five year lease with a $1 purchase

option for the applicable equipment at lease expiration. Substantially all of Landstar’s operating lease

right-of-use

assets and operating lease liabilities represent leases for orientation centers for 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”

lease terms, which are not required to be recorded on the balance sheet due to the less than twelve month lease term exemption. Sublease income is primarily comprised of weekly trailing equipment rentals to our BCO Independent Contractors.

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

assets and lease liabilities as they are not reasonably certain of exercise. Landstar regularly evaluates the renewal options, and when they are reasonably certain of exercise, Landstar includes the renewal period in the lease term.

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 twenty six weeks ended June 27, 2020 were (in thousands):


Finance leases:
Amortization of right-of-use assets	$	12,372
Interest on lease liability		1,689

Total finance lease cost		14,061
Operating leases:
Lease cost		1,518
Variable lease cost		—
Sublease income		(2,413	)

Total operating lease (income)/cost		(895	)

Total lease cost	$	13,166

A summary of the lease classification on our consolidated balance sheet as of June 27, 2020 is as follows (in thousands):

Assets:

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 27, 2020 (in thousands):


	Finance Leases		Operating Leases
2020 Remainder	$	22,849	$	340
2021		32,858		643
2022		23,709		645
2023		16,686		515
2024		6,742		448
Thereafter		793		92

Total future minimum lease payments		103,637		2,683
Less amount representing interest (2.1% to 4.4%)		5,266		221

Present value of minimum lease payments	$	98,371	$	2,462


Current maturities of long-term debt		38,219
Long-term debt, excluding current maturities		60,152
Other current liabilitie s				648
Deferred income taxes and other noncurrent liabilities				1,814

The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 27, 2020 were:


	Finance Leases			Operating Leases
Weighted average remaining lease term (years)		3.2			4.3
Weighted average discount rate		3.2	%		4.0	%

Commitments and Contingencies

6 Months Ended

Jun. 27, 2020

Commitments and Contingencies

(11)	Commitments and Contingencies

Short-term investments include $36,274,000 in current maturities of investments held by the Company’s insurance segment at June 27, 2020. The

non-current

portion of the bond portfolio of $84,394,000 is included in other assets. The short-term investments, together with $32,063,000 of

non-current

investments, provide collateral for the $61,503,000 of letters of credit issued to guarantee payment of insurance claims. As of June 27, 2020, Landstar also had $34,156,000 of additional letters of credit outstanding under the Company’s Credit Agreement.

On January 25, 2019, a purported class action was filed in the Superior Court of the State of California for the County of San Bernardino against Landstar System, Inc. and Landstar Ranger, Inc. (together, the “Defendants”). The complaint purported to bring this action on behalf of Hany Tanious, as an individual, and “all owner operators who performed work for the Defendants, and who were classified as independent contractors, during the four years preceding the filing of this action through the present.” The complaint asserted claims based on the alleged misclassification of Mr. Tanious as an independent contractor and alleged violations under California law relating to overtime, minimum wage, meal and rest breaks, failure to reimburse certain expenses, wage statements, waiting time and unfair competition. Mr. Tanious was a truck owner-operator and formerly an independent contractor who was a party to an independent contractor operating agreement with Landstar Ranger, Inc. On June 11, 2019, the Defendants filed a Notice of Removal that resulted in the removal of the case from state court to federal court, where it was assigned to Judge Dale S. Fischer of the United State District Court for the Central District of California. On August 22, 2019, the Court issued an order, among other things, striking all class allegations from the complaint and stating that this matter would proceed as an individual action. On June 15, 2020, the Court issued an order granting the Defendants’ motion to transfer venue to the United States District Court for the Middle District of Florida, where the matter was assigned to Judge Marcia Morales Howard. On June 24, 2020, the Court,

sua sponte

, issued an order striking the first amended complaint that was deemed by the Court to have been filed by the plaintiff on March 23, 2020. On July 6, 2020, the plaintiff filed a voluntary dismissal without prejudice of all remaining claims relating to this action. On July 15, 2020, the Court issued an order granting the voluntary dismissal of this action in full.

The Company is involved in certain claims and pending litigation arising from the normal conduct of business. Many of these claims are covered in whole or in part by insurance. Based on knowledge of the facts and, in certain cases, opinions of outside counsel, management believes that adequate provisions have been made for probable losses with respect to the resolution of all such claims and pending litigation and that the ultimate outcome, after provisions therefor, will not have a material adverse effect on the financial condition of the Company, but could have a material effect on the results of operations in a given quarter or year.

Change in Accounting Estimate for Self-Insured Claims

6 Months Ended

Jun. 27, 2020

Change in Accounting Estimate for Self-Insured Claims

(12)	Change in Accounting Estimate for Self-Insured Claims

Landstar provides for the estimated costs of self-insured claims primarily on an actuarial basis. The amount recorded for the estimated liability for claims incurred is based upon the facts and circumstances known on the applicable balance sheet date. The ultimate resolution of these claims may be for an amount greater or less than the amount estimated by management. The Company continually revises its existing claim estimates as new or revised information becomes available on the status of each claim. Historically, the Company has experienced both favorable and unfavorable development of prior years’ claims estimates.

The following table summarizes the effect of the increase in the cost of insurance claims resulting from unfavorable development of prior year self-insured claims estimates on operating income, net income attributable to Landstar System, Inc. and subsidiary and earnings per share attributable to Landstar System, Inc. and subsidiary set forth in the consolidated statements of income for the

twenty-six-week

and thirteen-week periods ended June 27, 2020 and June 29, 2019 (in thousands, except per share amounts):


	Twenty Six Weeks Ended				Thirteen Weeks Ended
	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Operating income	$	5,039	$	2,900	$	2,816	$	1,493
Net income attributable to Landstar System, Inc. and subsidiary	$	3,820	$	2,198	$	2,135	$	1,131
Earnings per share attributable to Landstar System, Inc. and subsidiary	$	0.10	$	0.05	$	0.06	$	0.03
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$	0.10	$	0.05	$	0.06	$	0.03

Impairment of Intangible and Other Assets

6 Months Ended

Jun. 27, 2020

Impairment of Intangible and Other Assets

(13)	Impairment of Intangible and Other Assets

During the 2020 second fiscal quarter, the Company recorded a

non-cash

impairment charge of $2,582

,000

in respect of certain assets, primarily customer contract and related customer relationship intangible assets, acquired on September 20, 2017, along with substantially all of the other assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V. (“Fletes Avella”). As previously disclosed in Item 1A. Risk Factors in the Company’s Form

10-Q

for the 2020 first quarter, negative macroeconomic trends in Mexico, including issues in the international oil and gas sector, have caused significant disruptions in the M

xican economy. Accordingly, management performed impairment tests of the carrying values of certain assets that primarily relate to intra-Mexico business acquired as a part of the Fletes Avella acquisition. The impairment tests resulted in an impairment charge of

2,582,000

, as the negative macroeconomic trends in Mexico have caused current financial projections relating to these intangible assets to be substantially below those originally anticipat

d at the acquisition date. There was no corresponding goodwill impairment charge recorded as the fair value of the Company’s Mexico and cross-border reporting unit continues to significantly exceed its carrying value as of June 27, 2020.

Recent Accounting Pronouncements

6 Months Ended

Jun. 27, 2020

Recent Accounting Pronouncements

)

Recent Accounting Pronouncements

Adoption of New Accounting Standards

In June 2016, the FASB issued Accounting Standards Update

2016-13–

Financial Instruments –

Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

(“ASU

2016-13”),

which requires measurement and recognition of expected versus incurred credit losses for financial assets held. The Company adopted ASU

2016-13

on December 29, 2019, under the modified retrospective transition method resulting in a $702,000 cumulative adjustment to retained earnings.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 27, 2020

Revenue from Contracts with Customers – Disaggregation of Revenue

twenty-six-week

period ended June 27, 2020. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the

twenty-six-week

period ended June 29, 2019. Included in truck transportation revenue generated by BCO Independent Contractors and Truck Brokerage Carriers during the

twenty-six-week

period ended June 29, 2019 was $1,224,379,000 hauled via van equipment, $648,828,000 hauled via unsided/platform equipment and $48,108,000 of less-than-truckload.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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+ Details

Share-based Payment Arrangements (Tables)

6 Months Ended

Jun. 27, 2020

Amounts Recognized in Financial Statements with Respect to Plans

Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands):


	Twenty Six Weeks Ended						Thirteen Weeks Ended
	June 27, 2020			June 29, 2019			June 27, 2020			June 29, 2019
Total cost of the Plans during the period	$	1,201		$	3,368		$	570		$	1,430
Amount of related income tax benefit recognized during the period		(1,135	)		(3,734	)		(262	)		(672	)

Net cost of the Plans during the period	$	66		$	(366	)	$	308		$	758

Summary of Information Regarding Stock Options

The following table summarizes information regarding the Company’s outstanding stock options under the Plans:


	Number of Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (000s)
Options outstanding at December 28, 2019		44,467		$	51.24
Exercised		(16,517	)	$	47.70

Options outstanding at June 27, 2020		27,950		$	53.33		2.1	$	1,514
Options exercisable at June 27, 2020		27,950		$	53.33		2.1	$	1,514

Restricted Stock Units (RSUs)

Schedule of Information on Restricted Stock Units

The following table summarizes information regarding the Company’s outstanding restricted stock unit (“RSU”) awards with either a performance condition or a market condition under the Plans:


	Number of RSUs			Weighted Average Grant Date Fair Value
Outstanding at December 28, 2019		198,875		$	84.37
Granted		59,478		$	102.66
Shares earned in excess of target (1)		11,648		$	77.00
Vested shares, including shares earned in excess of target		(76,290	)	$	73.44
Forfeited		(10,987	)	$	100.55

Outstanding at June 27, 2020		182,724		$	93.44

(1)	Represents shares earned in excess of target under the February 2, 2017 RSU awards as actual results exceeded the target under the awards as a result of fiscal year 2019 results.

Non Vested Restricted Stock and Deferred Stock Units

Schedule of Information on Non-Vested Restricted Stock and Deferred Stock Units

The following table summarizes information regarding the Company’s outstanding shares of

non-vested

restricted stock and Deferred Stock Units (defined below) under the Plans:


	Number of Shares and Deferred Stock Units			Weighted Average Grant Date Fair Value
Non-vested at December 28, 2019		64,808		$	98.24
Granted		26,604		$	111.88
Vested		(27,619	)	$	98.91
Forfeited		(2,351	)	$	106.34

Non-vested at June 27, 2020		61,442		$	103.54

Segment Information (Tables)

6 Months Ended

Jun. 27, 2020

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

and thirteen week periods ended June 27, 2020 and June 29, 2019 (in thousands):


	Twenty Six Weeks Ended
	June 27, 2020						June 29, 2019
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	1,723,682	$	27,398	$	1,751,080	$	2,049,777	$	28,263	$	2,078,040
Internal revenue				35,834		35,834				27,367		27,367
Investment income				2,002		2,002				2,421		2,421
Operating income		76,518		9,668		86,186		135,919		25,828		161,747
Expenditures on long-lived assets		17,676				17,676		9,224				9,224
Goodwill		40,071				40,071		38,407				38,407

	Thirteen Weeks Ended
	June 27, 2020						June 29, 2019
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	809,798	$	13,716	$	823,514	$	1,030,816	$	14,224	$	1,045,040
Internal revenue				26,755		26,755				17,753		17,753
Investment income				835		835				1,283		1,283
Operating income		21,474		10,707		32,181		68,336		12,515		80,851
Expenditures on long-lived assets		11,877				11,877		4,648				4,648

Other Comprehensive Income (Tables)

6 Months Ended

Jun. 27, 2020

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

period ended June 27, 2020 (in thousands):


	Unrealized Holding Gains on Available-for-Sale Securities		Foreign Currency Translation			Total
Balance as of December 28, 2019	$	1,120	$	(3,332	)	$	(2,212	)
Other comprehensive gain (loss)		1,237		(6,170	)		(4,933	)

Balance as of June 27, 2020	$	2,357	$	(9,502	)	$	(7,145	)

Investments (Tables)

6 Months Ended

Jun. 27, 2020

Amortized Cost and Fair Value of Available-for-Sale Investments

The amortized cost and fair values of

available-for-sale

investments are as follows at June 27, 2020 and December 28, 2019 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 27, 2020
Money market investments	$	14,038	$	—	$	—	$	14,038
Asset-backed securities		569		—		84		485
Corporate bonds and direct obligations of
government agencies		100,722		3,261		316		103,667
U.S. Treasury obligations		2,337		141		—		2,478

Total	$	117,666	$	3,402	$	400	$	120,668

December 28, 2019
Money market investments	$	15,691	$	—	$	—	$	15,691
Asset-backed securities		572		—		1		571
Corporate bonds and direct obligations of
government agencies		97,583		1,465		44		99,004
U.S. Treasury obligation s		2,335		12		5		2,342

Total	$	116,181	$	1,477	$	50	$	117,608

Schedule of Unrealized Loss on Available-for-Sale Investments

For those

available-for-sale

investments with unrealized losses at June 27, 2020 and December 28, 2019, the following table summarizes the duration of the unrealized loss (in thousands):


	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
June 27, 2020
Asset-backed securities	$	485	$	84	$	—	$	—	$	485	$	84
Corporate bonds and direct obligations of government agencies		4,937		316		—		—		4,937		316

Total	$	5,422	$	400	$	—	$	—	$	5,422	$	400

December 28, 2019
Asset-backed securities	$	571	$	1	$	—	$	—	$	571	$	1
Corporate bonds and direct obligations of government agencies		8,728		41		4,260		3		12,988		44
U.S. Treasury obligation s		1,226		5		—		—		1,226		5

Total	$	10,525	$	47	$	4,260	$	3	$	14,785	$	50

Leases (Tables)

6 Months Ended

Jun. 27, 2020

Lease, Cost [Table Text Block]

The components of lease cost for finance leases and operating leases for the twenty six weeks ended June 27, 2020 were (in thousands):


Finance leases:
Amortization of right-of-use assets	$	12,372
Interest on lease liability		1,689

Total finance lease cost		14,061
Operating leases:
Lease cost		1,518
Variable lease cost		—
Sublease income		(2,413	)

Total operating lease (income)/cost		(895	)

Total lease cost	$	13,166

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 June 27, 2020 is as follows (in thousands):

Assets:

Finance And Operating Lease Maturity [Table Text Block]


	Finance Leases		Operating Leases
2020 Remainder	$	22,849	$	340
2021		32,858		643
2022		23,709		645
2023		16,686		515
2024		6,742		448
Thereafter		793		92

Total future minimum lease payments		103,637		2,683
Less amount representing interest (2.1% to 4.4%)		5,266		221

Present value of minimum lease payments	$	98,371	$	2,462


Current maturities of long-term debt		38,219
Long-term debt, excluding current maturities		60,152
Other current liabilitie s				648
Deferred income taxes and other noncurrent liabilities				1,814

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 27, 2020 were:


	Finance Leases			Operating Leases
Weighted average remaining lease term (years)		3.2			4.3
Weighted average discount rate		3.2	%		4.0	%

Change in Accounting Estimate for Self-Insured Claims (Tables)

6 Months Ended

Jun. 27, 2020

Effect of Increase in Cost of Insurance and Claims

twenty-six-week

and thirteen-week periods ended June 27, 2020 and June 29, 2019 (in thousands, except per share amounts):


	Twenty Six Weeks Ended				Thirteen Weeks Ended
	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Operating income	$	5,039	$	2,900	$	2,816	$	1,493
Net income attributable to Landstar System, Inc. and subsidiary	$	3,820	$	2,198	$	2,135	$	1,131
Earnings per share attributable to Landstar System, Inc. and subsidiary	$	0.10	$	0.05	$	0.06	$	0.03
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$	0.10	$	0.05	$	0.06	$	0.03

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 823,514,000	$ 1,045,040,000	$ 1,751,080,000	$ 2,078,040,000
BCO Independent Contractor
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	46.00%	45.00%	46.00%	44.00%
Truck Brokerage Carriers
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	46.00%	47.00%	46.00%	48.00%
Railroads
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	3.00%	3.00%	3.00%	3.00%
Air and Ocean Cargo Carriers
Disaggregation of Revenue [Line Items]
Consolidated revenue, percentage	4.00%	3.00%	3.00%	3.00%
BCO Independent Contractor and Truck Brokerage Carriers \| Van Equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 483,027,000	$ 605,365,000	$ 1,028,334,000	$ 1,224,379,000
BCO Independent Contractor and Truck Brokerage Carriers \| Unsided/Platform Equipment
Disaggregation of Revenue [Line Items]
Revenue	247,388,000	338,107,000	533,716,000	648,828,000
BCO Independent Contractor and Truck Brokerage Carriers \| Less than Truckload
Disaggregation of Revenue [Line Items]
Revenue	$ 22,918,000	$ 24,732,000	$ 45,859,000	$ 48,108,000

Acquired Business - Additional Information (Detail) - USD ($)		6 Months Ended
	Jun. 15, 2020	Jun. 27, 2020
Purchase consideration	$ 2,701,000	$ 2,701,000
Business combination, recognized identifiable assets acquired and liabilities assumed, liabilities	200,000
Goodwill Purchase	$ 2,807,000
Income tax rate deduction	100.00%

Share-based Payment Arrangements - Additional Information (Detail)	6 Months Ended
	Jun. 27, 2020 USD ($) Equityplan shares	Jun. 29, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employee equity incentive plans \| Equityplan	2
Excess tax benefit from stock-based awards	$ 829,000	$ 2,871,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation (benefit)/expense	(308,000)	2,062,000
Unrecognized compensation cost, other than options	$ 35,300,000
Unrecognized compensation cost expected to be recognized over period, years	3 years 3 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	$ 4,841,000
Unrecognized compensation cost expected to be recognized over period, years	2 years 1 month 6 days
Terms of award	Company’s common stock on the date of grant. Shares of non-vested restricted stock are generally subject to vesting in three equal annual installments either on the first, second and third anniversary of the date of the grant or the third, fourth and fifth anniversary of the date of the grant, or 100% on the first or fifth anniversary of the date of the grant. For restricted stock awards granted under the 2013 DSCP plan, each recipient may elect to defer receipt of shares and instead receive restricted stock units (“Deferred Stock Units”), which represent contingent rights to receive shares of the Company’s common stock on the date of recipient separation
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised during periods	$ 1,071,000	$ 1,269,000
Maximum \| Restricted Stock Units (RSUs) \| Prior to 2015 grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of target available for common share issuance	100.00%
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance \| shares	6,000,000
2013 Directors Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance \| shares	115,000
Common stock reserved for issuance \| shares	60,586
2013 Directors Stock Compensation Plan \| Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting percentage	100.00%
Other Stock Compensation Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance \| shares	3,683,524

Amounts Recognized in Financial Statements with Respect to Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of the Plans during the period	$ 570	$ 1,430	$ 1,201	$ 3,368
Amount of related income tax benefit recognized during the period	(262)	(672)	(1,135)	(3,734)
Net cost of the Plans during the period	$ 308	$ 758	$ 66	$ (366)

Schedule of Information on Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 27, 2020 $ / shares shares
Number of Shares
Beginning Balance \| shares	198,875
Granted \| shares	59,478
Shares earned in excess of target \| shares	11,648
Vested shares, including shares earned in excess of target \| shares	(76,290)
Forfeited \| shares	(10,987)
Ending Balance \| shares	182,724
Weighted Average Grant Date Fair Value
Beginning Balance \| $ / shares	$ 84.37
Granted \| $ / shares	102.66
Shares earned in excess of target \| $ / shares	77.00
Vested shares, including shares earned in excess of target \| $ / shares	73.44
Forfeited \| $ / shares	100.55
Ending Balance \| $ / shares	$ 93.44

Summary of Information Regarding Stock Options (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 27, 2020 USD ($) $ / shares shares
Number of Options
Beginning Balance, number of options \| shares	44,467
Exercised, number of options \| shares	(16,517)
Ending Balance, number of options \| shares	27,950
Weighted Average Exercise Price per Share
Beginning Balance, Weighted Average Exercise Price per Share \| $ / shares	$ 51.24
Exercised, Weighted Average Exercise Price per Share \| $ / shares	47.70
Ending Balance, Weighted Average Exercise Price per Share \| $ / shares	$ 53.33
Options Exercisable, Number of Options
Options exercisable at the ending, Number of Options \| shares	27,950
Options Exercisable, Weighted Average Exercise Price per Share
Options exercisable at the ending, Weighted Average Exercise Price per Share \| $ / shares	$ 53.33
Weighted Average Remaining Contractual Term (years)
Options outstanding at June 27, 2020	2 years 1 month 6 days
Options exercisable at June 27, 2020	2 years 1 month 6 days
Aggregate Intrinsic Value
Options outstanding at June 27, 2020 \| $	$ 1,514
Options exercisable at June 27, 2020 \| $	$ 1,514

Schedule of Information on Non - Vested Restricted Stock Units (Detail) - Non Vested Restricted Stock and Deferred Stock Units	6 Months Ended
	Jun. 27, 2020 $ / shares shares
Number of Shares and Deferred Stock Units
Beginning Balance \| shares	64,808
Granted \| shares	26,604
Vested \| shares	(27,619)
Forfeited \| shares	(2,351)
Ending Balance \| shares	61,442
Weighted Average Grant Date Fair Value
Beginning Balance \| $ / shares	$ 98.24
Granted \| $ / shares	111.88
Vested \| $ / shares	98.91
Forfeited \| $ / shares	106.34
Ending Balance \| $ / shares	$ 103.54

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Income Taxes [Line Items]
Corporate income tax rate	21.00%	21.00%
Excess tax benefit from stock-based awards	$ 829,000	$ 2,871,000
Estimated annual effective income tax rate	24.20%	24.20%
Effective income tax rate	22.70%	22.40%

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from calculation of diluted earnings per share, antidilutive	0	0

Additional Cash Flow Information - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 16,198,000	$ 39,180,000
Acquired operating property by accruing in accounts payable	1,440,000	0
Interest paid	2,057,000	$ 2,286,000
Capital Lease Obligations Incurred	$ 7,485,000

Segment Information - Additional Information (Detail) - Customer	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Information [Line Items]
Number of customers accounting for 10 percent or more of total revenue	0	0
No single customer accounted for benchmark percentage to be considered major customer	10.00%	10.00%

Information Regarding Reportable Business Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019
Segment Reporting Information [Line Items]
External revenue	$ 823,514	$ 1,045,040	$ 1,751,080	$ 2,078,040
Internal revenue	26,755	17,753	35,834	27,367
Investment income	835	1,283	2,002	2,421
Operating income	32,181	80,851	86,186	161,747
Expenditures on long-lived assets	11,877	4,648	17,676	9,224
Goodwill	40,071	38,407	40,071	38,407	$ 38,508
Transportation Logistics
Segment Reporting Information [Line Items]
External revenue	809,798	1,030,816	1,723,682	2,049,777
Operating income	21,474	68,336	76,518	135,919
Expenditures on long-lived assets	11,877	4,648	17,676	9,224
Goodwill	40,071	38,407	40,071	38,407
Insurance
Segment Reporting Information [Line Items]
External revenue	13,716	14,224	27,398	28,263
Internal revenue	26,755	17,753	35,834	27,367
Investment income	835	1,283	2,002	2,421
Operating income	$ 10,707	$ 12,515	$ 9,668	$ 25,828

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 323
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

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. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 627,095		$ 721,469
Other comprehensive loss	4,548	$ 1,381	(4,933)	$ 2,930
Ending Balance	649,121		649,121
Unrealized Holding (Losses) Gains on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			1,120
Other comprehensive loss			1,237
Ending Balance	2,357		2,357
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(3,332)
Other comprehensive loss			(6,170)
Ending Balance	(9,502)		(9,502)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(11,693)		(2,212)
Other comprehensive loss			(4,933)
Ending Balance	$ (7,145)		$ (7,145)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Investments - Additional Information (Detail) - USD ($)	6 Months Ended
Investments - Additional Information (Detail) - USD ($)	Jun. 27, 2020	Dec. 28, 2019
Debt Securities, Available-for-sale [Line Items]
Investments maximum maturity period	5 years
Unrealized gain (loss), net of unrealized gains/losses, on the investments in the bond portfolio	$ 3,002,000	$ 1,427,000

Amortized Cost and Fair Value of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 117,666	$ 116,181
Gross Unrealized Gains	3,402	1,477
Gross Unrealized Losses	400	50
Fair Value	120,668	117,608
Money market investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,038	15,691
Fair Value	14,038	15,691
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	569	572
Gross Unrealized Losses	84	1
Fair Value	485	571
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	100,722	97,583
Gross Unrealized Gains	3,261	1,465
Gross Unrealized Losses	316	44
Fair Value	103,667	99,004
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,337	2,335
Gross Unrealized Gains	141	12
Gross Unrealized Losses		5
Fair Value	$ 2,478	$ 2,342

Schedule of Unrealized Loss on Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	$ 5,422	$ 10,525
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	400	47
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		4,260
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		3
Available-for-sale investments with unrealized losses, Fair Value, Total	5,422	14,785
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	400	50
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	485	571
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	84	1
Available-for-sale investments with unrealized losses, Fair Value, Total	485	571
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	84	1
Corporate bonds and direct obligations of government agencies
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value	4,937	8,728
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss	316	41
Available-for-sale investments with unrealized losses, 12 months or longer, Fair Value		4,260
Available-for-sale investments with unrealized losses, 12 months or longer, Unrealized Loss		3
Available-for-sale investments with unrealized losses, Fair Value, Total	4,937	12,988
Available-for-sale investments with unrealized losses, Unrealized Loss, Total	$ 316	44
U.S. Treasury obligations
Debt Securities, Available-for-sale [Line Items]
Available-for-sale investments with unrealized losses, Less than 12 months, Fair Value		1,226
Available-for-sale investments with unrealized losses, Less than 12 months, Unrealized Loss		5
Available-for-sale investments with unrealized losses, Fair Value, Total		1,226
Available-for-sale investments with unrealized losses, Unrealized Loss, Total		$ 5

Leases - Additional Information (Detail)	Jun. 27, 2020 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 Cost for Finance Leases and Operating Leases (Detail) $ in Thousands	6 Months Ended
	Jun. 27, 2020 USD ($)
Finance leases:
Amortization of right-of-use assets	$ 12,372
Interest on lease liability	1,689
Total finance lease cost	14,061
Operating leases:
Lease cost	1,518
Sublease income	(2,413)
Total operating lease (income)/cost	(895)
Total lease cost	$ 13,166

Leases - Classification on our Consolidated Balance Sheet (Detail) $ in Thousands	Jun. 27, 2020 USD ($)
Total lease assets	$ 153,980
Other Assets [Member]
Operating lease right-of-use assets	2,462
Property Plant and Equipment Net [Member]
Finance lease assets	$ 151,518

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Operating Leased Assets [Line Items]
2020 Remainder	$ 22,849
2021	32,858
2022	23,709
2023	16,686
2024	6,742
Thereafter	793
Total future minimum lease payments	103,637
Less amount representing interest (2.1% to 4.4%)	5,266
Present value of minimum lease payments	98,371
Current maturities of long-term debt	38,219	$ 42,632
Long-term debt, excluding current maturities	60,152	$ 70,212
2020	340
2021	643
2022	645
2023	515
2024	448
Thereafter	92
Total future minimum lease payments	2,683
Less amount representing interest (2.1% to 4.4%)	221
Present value of minimum lease payments	2,462
Other current liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, current	648
Deferred income taxes and other noncurrent liabilities [Member]
Operating Leased Assets [Line Items]
Operating lease, liability, non-current	$ 1,814

Leases - Undiscounted Cash Flows for the Finance and Operating Leases (Parenthetical) (Details)	Jun. 27, 2020
Maximum [Member]
Finance lease Interest rate percentage	4.40%
Minimum [Member]
Finance lease Interest rate percentage	2.10%

Leases - Weighted Average Remaining Lease Term and the Weighted Average Discount Rate for Finance and Operating leases (Detail)	Jun. 27, 2020
Weighted average remaining lease term (years)	3 years 2 months 12 days
Weighted average discount rate	3.20%
Weighted average remaining lease term (years)	4 years 3 months 18 days
Weighted average discount rate	4.00%

Commitments and Contingencies - Additional Information (Detail)	Jun. 27, 2020 USD ($)
Current Investments \| Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	$ 36,274,000
Non-Current Investments
Commitments and Contingencies Disclosure [Line Items]
Total non-current investments	84,394,000
Non-Current Investments \| Collateral Pledged [Member]
Commitments and Contingencies Disclosure [Line Items]
Investments providing collateral for letters of credit to guarantee insurance claims	32,063,000
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	34,156,000
Guarantee Payment of Insurance Claims
Commitments and Contingencies Disclosure [Line Items]
Letters of credit outstanding	$ 61,503,000

Effect of Increase in Cost of Insurance and Claims (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Change in Accounting Estimate [Line Items]
Operating income	$ 32,181	$ 80,851	$ 86,186	$ 161,747
Net income attributable to Landstar System, Inc. and subsidiary	$ 24,254	$ 61,100	$ 65,149	$ 124,417
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.63	$ 1.53	$ 1.68	$ 3.11
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.63	$ 1.53	$ 1.68	$ 3.11
Development of Prior Year Self Insured Claims Estimates
Change in Accounting Estimate [Line Items]
Operating income	$ 2,816	$ 1,493	$ 5,039	$ 2,900
Net income attributable to Landstar System, Inc. and subsidiary	$ 2,135	$ 1,131	$ 3,820	$ 2,198
Earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.06	$ 0.03	$ 0.10	$ 0.05
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$ 0.06	$ 0.03	$ 0.10	$ 0.05

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Impairment of Intangible and Other Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 27, 2020	Jun. 27, 2020
Impairment charges of intangible asset	$ 2,582	$ 2,582

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($)		3 Months Ended
	Dec. 29, 2019	Mar. 28, 2020
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standards (Note 14)	$ (702,000)	$ (702,000)