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10-Q Filing

LANDSTAR SYSTEM INC CIK: 853816 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001193125-16-568058
Period End Date 20160331
Filing Date 20160429
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance lstr-20160326.xml
Balance Sheet 69 line items
Line Item Tag Value Unit Period
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $4.78M USD Point-in-time
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $4.33M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.14M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.37M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $185.24M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $156.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $163.94M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $182.59M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.52M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.89M USD Point-in-time
Short-term investments ShortTermInvestments $48.82M USD Point-in-time
Short-term investments ShortTermInvestments $61.14M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Trade accounts receivable, less allowance of $4,777 and $4,327 ReceivablesNetCurrent $383.06M USD Point-in-time
Trade accounts receivable, less allowance of $4,777 and $4,327 ReceivablesNetCurrent $462.70M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.47M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.39M shares Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,373 and $4,143 OtherReceivables $28.78M USD Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,373 and $4,143 OtherReceivables $18.47M USD Point-in-time
Treasury stock, shares TreasuryStockShares 24.97M shares Point-in-time
Treasury stock, shares TreasuryStockShares 25.15M shares Point-in-time
Other current assets OtherAssetsCurrent $11.60M USD Point-in-time
Other current assets OtherAssetsCurrent $7.53M USD Point-in-time
Total current assets AssetsCurrent $656.12M USD Point-in-time
Total current assets AssetsCurrent $636.79M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $185,236 and $182,591 PropertyPlantAndEquipmentNet $225.93M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $185,236 and $182,591 PropertyPlantAndEquipmentNet $228.47M USD Point-in-time
Goodwill Goodwill $31.13M USD Point-in-time
Goodwill Goodwill $31.13M USD Point-in-time
Goodwill Goodwill $31.13M USD Point-in-time
Other assets OtherAssetsNoncurrent $61.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $78.34M USD Point-in-time
Total assets Assets $991.52M USD Point-in-time
Total assets Assets $957.49M USD Point-in-time
Cash overdraft BankOverdrafts $30.07M USD Point-in-time
Cash overdraft BankOverdrafts $35.61M USD Point-in-time
Accounts payable AccountsPayableCurrent $172.03M USD Point-in-time
Accounts payable AccountsPayableCurrent $223.71M USD Point-in-time
Current maturities of long-term debt CapitalLeaseObligationsCurrent $42.50M USD Point-in-time
Current maturities of long-term debt CapitalLeaseObligationsCurrent $43.15M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $22.03M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $19.76M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $54.79M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $47.96M USD Point-in-time
Total current liabilities LiabilitiesCurrent $369.54M USD Point-in-time
Total current liabilities LiabilitiesCurrent $322.07M USD Point-in-time
Long-term debt, excluding current maturities CapitalLeaseObligationsNoncurrent $81.79M USD Point-in-time
Long-term debt, excluding current maturities CapitalLeaseObligationsNoncurrent $81.39M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $21.48M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $21.49M USD Point-in-time
Deferred income taxes and other noncurrent liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $52.47M USD Point-in-time
Deferred income taxes and other noncurrent liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $50.16M USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,473,450 and 67,391,616 shares CommonStockValue $675.00K USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,473,450 and 67,391,616 shares CommonStockValue $674.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $195.67M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $195.84M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.42B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.39B USD Point-in-time
Cost of 25,147,079 and 24,972,079 shares of common stock in treasury TreasuryStockValue $1.12B USD Point-in-time
Cost of 25,147,079 and 24,972,079 shares of common stock in treasury TreasuryStockValue $1.13B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.72M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.49M USD Point-in-time
Total shareholders' equity StockholdersEquity $482.39M USD Point-in-time
Total shareholders' equity StockholdersEquity $466.24M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $957.49M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $991.52M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue Revenues $762.38M USD 1 Quarter
Revenue Revenues $711.64M USD 1 Quarter
Investment income InterestIncomeOperating $354.00K USD 1 Quarter
Investment income InterestIncomeOperating $380.00K USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $540.33M USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $587.15M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $59.78M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $59.09M USD 1 Quarter
Other operating costs, net of gains on asset sales/dispositions OtherCostAndExpenseOperating $7.69M USD 1 Quarter
Other operating costs, net of gains on asset sales/dispositions OtherCostAndExpenseOperating $7.41M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $14.21M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $14.80M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $37.25M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $34.61M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $7.02M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $8.44M USD 1 Quarter
Total costs and expenses CostsAndExpenses $664.09M USD 1 Quarter
Total costs and expenses CostsAndExpenses $713.69M USD 1 Quarter
Operating income OperatingIncomeLoss $49.05M USD 1 Quarter
Operating income OperatingIncomeLoss $47.93M USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $781.00K USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $889.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $48.26M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $47.04M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $17.86M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $18.25M USD 1 Quarter
Net income NetIncomeLoss $30.02M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.67 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.69 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.67 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.69 USD 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 44.59M shares 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 42.40M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 44.76M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 42.49M shares 1 Quarter
Dividends per common share CommonStockDividendsPerShareDeclared $0.08 USD 1 Quarter
Dividends per common share CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $30.02M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $7.02M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $8.44M USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $55.00K USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $54.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $702.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $1.49M USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $107.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $874.00K USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-885.00K USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-2.68M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.67M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.10M USD 1 Quarter
Decrease in trade and other accounts receivable IncreaseDecreaseInReceivables $-29.94M USD 1 Quarter
Decrease in trade and other accounts receivable IncreaseDecreaseInReceivables $-67.84M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-9.78M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-11.22M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-51.67M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-23.86M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-9.58M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.72M USD 1 Quarter
Increase in insurance claims IncreaseDecreaseInInsuranceLiabilities $1.32M USD 1 Quarter
Increase in insurance claims IncreaseDecreaseInInsuranceLiabilities $2.29M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $72.04M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $49.27M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $10.64M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $10.65M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $11.11M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $11.19M USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $828.00K USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $2.45M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $656.00K USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $2.27M USD 1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-2.25M USD 1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $891.00K USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-5.54M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-6.22M USD 1 Quarter
Dividends paid PaymentsOfDividends $47.91M USD 1 Quarter
Dividends paid PaymentsOfDividends $3.40M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $105.00K USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $429.00K USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.53M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.07M USD 1 Quarter
Excess tax benefits from stock-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $149.00K USD 1 Quarter
Excess tax benefits from stock-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $486.00K USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $10.23M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $31.30M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $11.31M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $9.22M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-95.80M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-31.75M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-280.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $583.00K USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $41.76M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-49.06M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $156.28M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $163.94M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $114.52M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $114.89M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $156.28M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $163.94M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $114.52M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $114.89M USD Point-in-time
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Dividends per common share CommonStockDividendsPerShareDeclared $0.08 USD 1 Quarter
Dividends per common share CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Beginning Balance StockholdersEquity $482.39M USD Point-in-time
Beginning Balance StockholdersEquity $466.24M USD Point-in-time
Net income NetIncomeLoss $30.02M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Dividends DividendsCommonStockCash $3.40M USD 1 Quarter
Purchases of common stock TreasuryStockValueAcquiredCostMethod $10.23M USD 1 Quarter
Issuance of stock related to stock-based compensation plans, including excess tax effect StockIssuedDuringPeriodValueShareBasedCompensation $-1.27M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.10M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $765.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-52.00K USD 1 Quarter
Ending Balance StockholdersEquity $482.39M USD Point-in-time
Ending Balance StockholdersEquity $466.24M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Unrealized holding gains on available-for-sale investments, tax expense OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $100.00K USD 1 Quarter
Net income NetIncomeLoss $30.02M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Unrealized holding gains on available-for-sale investments, tax expense OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $125.00K USD 1 Quarter
Unrealized holding gains on available-for-sale investments, net of tax expenses of $100 and $125 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $228.00K USD 1 Quarter
Unrealized holding gains on available-for-sale investments, net of tax expenses of $100 and $125 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $182.00K USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $583.00K USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-280.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $765.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-52.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $29.96M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $29.95M USD 1 Quarter

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

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