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10-Q Filing

LANDSTAR SYSTEM INC CIK: 853816 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001193125-13-197791
Period End Date 20130331
Filing Date 20130503
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance lstr-20130330.xml
Balance Sheet 69 line items
Line Item Tag Value Unit Period
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $8.33M USD Point-in-time
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $8.65M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.66M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.23M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $53.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $90.78M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $159.00M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $161.01M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $80.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $74.28M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Short-term investments ShortTermInvestments $48.97M USD Point-in-time
Short-term investments ShortTermInvestments $35.53M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Trade accounts receivable, less allowance of $8,333 and $8,650 ReceivablesNetCurrent $408.79M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Trade accounts receivable, less allowance of $8,333 and $8,650 ReceivablesNetCurrent $378.93M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 66.97M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 66.86M shares Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,227 and $4,657 OtherReceivables $64.02M USD Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,227 and $4,657 OtherReceivables $55.28M USD Point-in-time
Deferred income taxes and other current assets OtherAssetsCurrent $18.07M USD Point-in-time
Deferred income taxes and other current assets OtherAssetsCurrent $14.63M USD Point-in-time
Treasury stock, shares TreasuryStockShares 20.41M shares Point-in-time
Treasury stock, shares TreasuryStockShares 20.41M shares Point-in-time
Total current assets AssetsCurrent $597.33M USD Point-in-time
Total current assets AssetsCurrent $591.94M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $161,007 and $158,999 PropertyPlantAndEquipmentNet $158.95M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $161,007 and $158,999 PropertyPlantAndEquipmentNet $161.46M USD Point-in-time
Goodwill Goodwill $57.47M USD Point-in-time
Goodwill Goodwill $57.47M USD Point-in-time
Goodwill Goodwill $57.47M USD Point-in-time
Other assets OtherAssetsNoncurrent $71.05M USD Point-in-time
Other assets OtherAssetsNoncurrent $68.77M USD Point-in-time
Total assets Assets $879.42M USD Point-in-time
Total assets Assets $885.03M USD Point-in-time
Cash overdraft BankOverdrafts $33.65M USD Point-in-time
Cash overdraft BankOverdrafts $27.39M USD Point-in-time
Accounts payable AccountsPayableCurrent $188.98M USD Point-in-time
Accounts payable AccountsPayableCurrent $179.01M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $19.02M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $20.67M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $65.86M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $64.51M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $38.19M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $41.89M USD Point-in-time
Total current liabilities LiabilitiesCurrent $334.82M USD Point-in-time
Total current liabilities LiabilitiesCurrent $344.34M USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtAndCapitalLeaseObligations $95.12M USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtAndCapitalLeaseObligations $82.45M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $21.43M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $21.90M USD Point-in-time
Deferred income taxes and other noncurrent liabilities OtherLiabilitiesNoncurrent $38.54M USD Point-in-time
Deferred income taxes and other noncurrent liabilities OtherLiabilitiesNoncurrent $38.61M USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 66,973,215 and 66,859,864 shares CommonStockValue $670.00K USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 66,973,215 and 66,859,864 shares CommonStockValue $669.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $175.84M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $173.98M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.04B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.07B USD Point-in-time
Cost of 20,412,020 and 20,411,736 shares of common stock in treasury TreasuryStockValue $839.52M USD Point-in-time
Cost of 20,412,020 and 20,411,736 shares of common stock in treasury TreasuryStockValue $839.53M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.09M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.37M USD Point-in-time
Total shareholders' equity StockholdersEquity $407.80M USD Point-in-time
Total shareholders' equity StockholdersEquity $379.45M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $885.03M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $879.42M USD Point-in-time
Income Statement 37 line items
Line Item Tag Value Unit Period
Revenue Revenues $628.32M USD 1 Quarter
Revenue Revenues $649.02M USD 1 Quarter
Investment income InterestIncomeOperating $387.00K USD 1 Quarter
Investment income InterestIncomeOperating $374.00K USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $492.92M USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $476.61M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $50.23M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $49.09M USD 1 Quarter
Other operating costs, net of gains on asset dispositions OtherCostAndExpenseOperating $5.33M USD 1 Quarter
Other operating costs, net of gains on asset dispositions OtherCostAndExpenseOperating $6.47M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $11.81M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $11.10M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $38.80M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $35.23M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $6.74M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $7.18M USD 1 Quarter
Total costs and expenses CostsAndExpenses $606.26M USD 1 Quarter
Total costs and expenses CostsAndExpenses $585.23M USD 1 Quarter
Operating income OperatingIncomeLoss $43.46M USD 1 Quarter
Operating income OperatingIncomeLoss $43.15M USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $724.00K USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $740.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $42.72M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $42.43M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $15.58M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $15.94M USD 1 Quarter
Net income ProfitLoss $26.85M USD 1 Quarter
Net income ProfitLoss $26.78M USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.58 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.57 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.57 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.57 USD 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 46.80M shares 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 46.51M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 47.06M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 46.72M shares 1 Quarter
Dividends paid per common share CommonStockDividendsPerShareCashPaid $0.06 USD 1 Quarter
Cash Flow Statement 61 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $26.85M USD 1 Quarter
Net income ProfitLoss $26.78M USD 1 Quarter
Depreciation and amortization of operating property and intangible assets DepreciationAndAmortization $6.74M USD 1 Quarter
Depreciation and amortization of operating property and intangible assets DepreciationAndAmortization $7.18M USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $54.00K USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $55.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $829.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $923.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $213.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $642.00K USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-1.26M USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-5.13M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.62M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.52M USD 1 Quarter
Decrease (increase) in trade and other accounts receivable IncreaseDecreaseInReceivables $-20.29M USD 1 Quarter
Decrease (increase) in trade and other accounts receivable IncreaseDecreaseInReceivables $17.51M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-3.46M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-1.29M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $-9.97M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $2.54M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $3.26M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-3.05M USD 1 Quarter
Increase (decrease) in insurance claims IncreaseDecreaseInInsuranceLiabilities $879.00K USD 1 Quarter
Increase (decrease) in insurance claims IncreaseDecreaseInInsuranceLiabilities $-6.54M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivities $19.91M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivities $52.83M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $12.70M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $8.91M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $23.15M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $26.21M USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $1.03M USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $1.72M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $1.07M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $1.94M USD 1 Quarter
NET CASH USED BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivities $-17.25M USD 1 Quarter
NET CASH USED BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivities $-10.23M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-6.26M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-3.15M USD 1 Quarter
Dividends paid PaymentsOfDividends $2.57M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $1.61M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $3.75M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.63M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.02M USD 1 Quarter
Excess tax effect on stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $864.00K USD 1 Quarter
Excess tax effect on stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $255.00K USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $26.01M USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $19.85M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivities $-25.88M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivities $-30.15M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $204.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-225.00K USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $16.50M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-27.29M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $53.61M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $90.78M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $80.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $74.28M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $53.61M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $90.78M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $80.90M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $74.28M USD Point-in-time
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquity $407.80M USD Point-in-time
Beginning Balance StockholdersEquity $379.45M USD Point-in-time
Net income ProfitLoss $26.85M USD 1 Quarter
Net income ProfitLoss $26.78M USD 1 Quarter
Issuance of stock related to stock-based compensation plans, including excess tax effect StockIssuedDuringPeriodValueShareBasedCompensation $233.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.62M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-225.00K USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $204.00K USD 1 Quarter
Unrealized loss on available- for-sale investments, net of income tax benefit OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $182.00K USD 1 Quarter
Unrealized loss on available- for-sale investments, net of income tax benefit OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-58.00K USD 1 Quarter
Ending Balance StockholdersEquity $407.80M USD Point-in-time
Ending Balance StockholdersEquity $379.45M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $26.78M USD 1 Quarter
Unrealized holding (losses) gains on available-for-sale investments, tax benefit (expense) OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $31.00K USD 1 Quarter
Net income NetIncomeLoss $26.85M USD 1 Quarter
Unrealized holding (losses) gains on available-for-sale investments, tax benefit (expense) OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $-100.00K USD 1 Quarter
Unrealized holding (losses) gains on available-for-sale investments, net of tax benefit (expense) of $31 and ($100) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $182.00K USD 1 Quarter
Unrealized holding (losses) gains on available-for-sale investments, net of tax benefit (expense) of $31 and ($100) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-58.00K USD 1 Quarter
Foreign currency translation (losses) gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-225.00K USD 1 Quarter
Foreign currency translation (losses) gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $204.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $386.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-283.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $27.23M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $26.50M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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