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10-Q Filing

LANDSTAR SYSTEM INC CIK: 853816 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001193125-17-160224
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance lstr-20170401.xml
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $5.16M USD Point-in-time
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $5.52M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $5.52M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $5.71M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $190.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $178.90M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $195.58M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $156.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.52M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $215.47M 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
Short-term investments ShortTermInvestments $62.06M USD Point-in-time
Short-term investments ShortTermInvestments $66.56M USD Point-in-time
Trade accounts receivable, less allowance of $5,524 and $5,161 ReceivablesNetCurrent $463.10M USD Point-in-time
Trade accounts receivable, less allowance of $5,524 and $5,161 ReceivablesNetCurrent $439.51M 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
Other receivables, including advances to independent contractors, less allowance of $5,706 and $5,523 OtherReceivables $23.88M USD Point-in-time
Other receivables, including advances to independent contractors, less allowance of $5,706 and $5,523 OtherReceivables $18.57M USD Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.59M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.67M shares Point-in-time
Other current assets OtherAssetsCurrent $8.10M USD Point-in-time
Treasury stock, shares TreasuryStockShares 25.75M shares Point-in-time
Treasury stock, shares TreasuryStockShares 25.75M shares Point-in-time
Other current assets OtherAssetsCurrent $10.28M USD Point-in-time
Total current assets AssetsCurrent $737.41M USD Point-in-time
Total current assets AssetsCurrent $749.01M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $195,581 and $190,374 PropertyPlantAndEquipmentNet $263.38M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $195,581 and $190,374 PropertyPlantAndEquipmentNet $272.84M 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 $55.21M USD Point-in-time
Other assets OtherAssetsNoncurrent $62.63M USD Point-in-time
Total assets Assets $1.10B USD Point-in-time
Total assets Assets $1.11B USD Point-in-time
Cash overdraft BankOverdrafts $36.25M USD Point-in-time
Cash overdraft BankOverdrafts $29.37M USD Point-in-time
Accounts payable AccountsPayableCurrent $200.68M USD Point-in-time
Accounts payable AccountsPayableCurrent $219.41M USD Point-in-time
Current maturities of long-term debt CapitalLeaseObligationsCurrent $42.91M USD Point-in-time
Current maturities of long-term debt CapitalLeaseObligationsCurrent $45.05M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $26.12M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $28.86M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $5.44M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $19.43M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $48.05M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $47.39M USD Point-in-time
Total current liabilities LiabilitiesCurrent $380.31M USD Point-in-time
Total current liabilities LiabilitiesCurrent $368.64M USD Point-in-time
Long-term debt, excluding current maturities CapitalLeaseObligationsNoncurrent $93.26M USD Point-in-time
Long-term debt, excluding current maturities CapitalLeaseObligationsNoncurrent $82.99M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $27.85M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $26.88M USD Point-in-time
Deferred income taxes and other noncurrent liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $53.58M USD Point-in-time
Deferred income taxes and other noncurrent liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $52.93M USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,671,338 and 67,585,675 shares CommonStockValue $676.00K USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,671,338 and 67,585,675 shares CommonStockValue $677.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $201.95M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $199.41M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.51B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.54B USD Point-in-time
Cost of 25,749,493 and 25,747,541 shares of common stock in treasury TreasuryStockValue $1.17B USD Point-in-time
Cost of 25,749,493 and 25,747,541 shares of common stock in treasury TreasuryStockValue $1.17B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.89M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.09M USD Point-in-time
Total shareholders' equity StockholdersEquity $573.74M USD Point-in-time
Total shareholders' equity StockholdersEquity $542.56M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.11B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.10B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue Revenues $711.64M USD 1 Quarter
Revenue Revenues $780.91M USD 1 Quarter
Investment income InterestIncomeOperating $380.00K USD 1 Quarter
Investment income InterestIncomeOperating $414.00K USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $540.33M USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $595.52M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $59.09M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $63.80M USD 1 Quarter
Other operating costs, net of gains on asset sales/dispositions OtherCostAndExpenseOperating $6.90M 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 $14.51M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $38.32M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $34.61M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $8.44M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.93M USD 1 Quarter
Total costs and expenses CostsAndExpenses $664.09M USD 1 Quarter
Total costs and expenses CostsAndExpenses $728.99M USD 1 Quarter
Operating income OperatingIncomeLoss $52.33M USD 1 Quarter
Operating income OperatingIncomeLoss $47.93M USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $1.08M USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $889.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $51.25M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $47.04M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $18.87M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $17.86M USD 1 Quarter
Net income NetIncomeLoss $32.38M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.69 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.77 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.77 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.69 USD 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 41.88M shares 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 42.40M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 42.00M 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 $0.09 USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $32.38M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $8.44M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $9.93M USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $54.00K USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $64.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $1.49M USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $1.86M USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $463.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $874.00K USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-2.68M USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $709.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $994.00K USD 1 Quarter
Decrease in trade and other accounts receivable IncreaseDecreaseInReceivables $-16.43M USD 1 Quarter
Decrease in trade and other accounts receivable IncreaseDecreaseInReceivables $-67.84M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-9.78M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $174.00K USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-15.42M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-51.67M USD 1 Quarter
Increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $13.36M USD 1 Quarter
Increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.72M USD 1 Quarter
Increase in insurance claims IncreaseDecreaseInInsuranceLiabilities $3.70M 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 $61.95M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $23.16M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $10.64M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $11.19M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $23.68M USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $828.00K USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $4.98M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $1.67M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $2.27M USD 1 Quarter
NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $891.00K USD 1 Quarter
NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-3.84M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-5.54M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-6.88M USD 1 Quarter
Dividends paid PaymentsOfDividends $3.40M USD 1 Quarter
Dividends paid PaymentsOfDividends $3.77M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $105.00K USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $1.72M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $339.00K USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.53M USD 1 Quarter
Excess tax benefits from stock-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $149.00K USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $10.23M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $12.41M USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $11.31M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-21.68M 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 $137.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $583.00K USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $41.76M USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $36.57M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $178.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $156.28M 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 $215.47M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $178.90M 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 $114.52M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $215.47M USD Point-in-time
Stockholders Equity 13 line items
Line Item Tag Value Unit Period
Dividends per common share CommonStockDividendsPerShareDeclared $0.08 USD 1 Quarter
Dividends per common share CommonStockDividendsPerShareDeclared $0.09 USD 1 Quarter
Beginning Balance StockholdersEquity $573.74M USD Point-in-time
Beginning Balance StockholdersEquity $542.56M USD Point-in-time
Net income NetIncomeLoss $32.38M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Dividends ($0.09 per share) DividendsCommonStockCash $3.77M USD 1 Quarter
Issuance of stock related to stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $1.38M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $994.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $765.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $201.00K USD 1 Quarter
Ending Balance StockholdersEquity $573.74M USD Point-in-time
Ending Balance StockholdersEquity $542.56M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Unrealized holding gains on available-for-sale investments, tax expenses OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $100.00K USD 1 Quarter
Unrealized holding gains on available-for-sale investments, tax expenses OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $35.00K USD 1 Quarter
Net income NetIncomeLoss $32.38M USD 1 Quarter
Net income NetIncomeLoss $29.18M USD 1 Quarter
Unrealized holding gains on available-for-sale investments, net of tax expenses of $35 and $100 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $64.00K USD 1 Quarter
Unrealized holding gains on available-for-sale investments, net of tax expenses of $35 and $100 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $182.00K USD 1 Quarter
Foreign currency translation gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $137.00K USD 1 Quarter
Foreign currency translation gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $583.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $765.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $201.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $29.95M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $32.58M USD 1 Quarter

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

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