$LSTR
LANDSTAR SYSTEM INC

2019 Q4 Form 10-K Financial Statement

#000119312520044766 Filed on February 21, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q2
Revenue $996.2M $1.013B $1.046B
YoY Change -15.74% -15.73% -11.54%
Cost Of Revenue $846.2M $859.1M $887.0M
YoY Change -16.5% -16.66% -12.29%
Gross Profit $150.0M $153.9M $159.3M
YoY Change -11.76% -10.68% -7.54%
Gross Profit Margin 15.06% 15.19% 15.23%
Selling, General & Admin $63.30M $62.10M $57.60M
YoY Change -2.91% 32.98% 17.56%
% of Gross Profit 42.2% 40.35% 36.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.50M $10.60M $11.10M
YoY Change 3.6% -0.93% 2.78%
% of Gross Profit 7.67% 6.89% 6.97%
Operating Expenses $83.50M $83.20M $78.50M
YoY Change -0.48% 78.16% 60.21%
Operating Profit $66.50M $70.70M $80.80M
YoY Change -22.75% -18.8% -3.15%
Interest Expense -$900.0K -$800.0K -$700.0K
YoY Change 0.0% 0.0% -12.5%
% of Operating Profit -1.35% -1.13% -0.87%
Other Income/Expense, Net
YoY Change
Pretax Income $65.70M $69.90M $80.10M
YoY Change -22.88% -18.96% -3.01%
Income Tax $15.60M $16.60M $19.00M
% Of Pretax Income 23.74% 23.75% 23.72%
Net Earnings $50.00M $53.30M $61.10M
YoY Change -26.75% -20.43% -2.28%
Net Earnings / Revenue 5.02% 5.26% 5.84%
Basic Earnings Per Share $1.27 $1.35 $1.53
Diluted Earnings Per Share $1.27 $1.35 $1.53
COMMON SHARES
Basic Shares Outstanding 40.16M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.4M $316.0M $285.4M
YoY Change 46.96% 24.31% 51.01%
Cash & Equivalents $319.5M $284.4M $250.2M
Short-Term Investments $32.90M $31.60M $35.10M
Other Short-Term Assets $21.40M $30.90M $32.60M
YoY Change 31.39% 27.73% 10.31%
Inventory
Prepaid Expenses
Receivables $588.5M $598.4M $594.1M
Other Receivables $35.60M $25.40M $27.20M
Total Short-Term Assets $997.9M $970.8M $939.3M
YoY Change 2.72% -2.84% 1.19%
LONG-TERM ASSETS
Property, Plant & Equipment $288.6M $273.2M $272.2M
YoY Change 1.61% 1.94% 6.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $102.7M $103.5M $98.80M
YoY Change 18.22% 21.76% 15.04%
Total Long-Term Assets $429.8M $414.9M $409.4M
YoY Change 5.05% 5.96% 7.54%
TOTAL ASSETS
Total Short-Term Assets $997.9M $970.8M $939.3M
Total Long-Term Assets $429.8M $414.9M $409.4M
Total Assets $1.428B $1.386B $1.349B
YoY Change 3.41% -0.36% 3.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $272.0M $285.4M $285.6M
YoY Change -13.41% -9.03% -8.39%
Accrued Expenses $10.60M $11.20M $12.10M
YoY Change -64.07% -53.14% -36.32%
Deferred Revenue
YoY Change
Short-Term Debt $53.90M $44.60M $43.60M
YoY Change -2.53% 12.06% -3.96%
Long-Term Debt Due $42.60M $39.40M $39.20M
YoY Change -2.29% -3.9% 0.77%
Total Short-Term Liabilities $552.9M $483.8M $474.3M
YoY Change 3.19% -6.09% -6.79%
LONG-TERM LIABILITIES
Long-Term Debt $70.20M $61.40M $65.60M
YoY Change -17.31% -15.78% 0.77%
Other Long-Term Liabilities $35.60M $35.10M $33.20M
YoY Change 17.11% 13.96% 9.93%
Total Long-Term Liabilities $105.8M $96.50M $98.80M
YoY Change -8.24% -6.94% 3.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $552.9M $483.8M $474.3M
Total Long-Term Liabilities $105.8M $96.50M $98.80M
Total Liabilities $706.2M $629.8M $620.4M
YoY Change 1.8% -5.56% -4.73%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $721.5M $756.0M $728.3M
YoY Change
Total Liabilities & Shareholders Equity $1.428B $1.386B $1.349B
YoY Change 3.41% -0.36% 3.04%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $50.00M $53.30M $61.10M
YoY Change -26.75% -20.43% -2.28%
Depreciation, Depletion And Amortization $11.50M $10.60M $11.10M
YoY Change 3.6% -0.93% 2.78%
Cash From Operating Activities $47.10M $76.60M $62.70M
YoY Change -49.73% -16.01% 52.93%
INVESTING ACTIVITIES
Capital Expenditures -$4.200M -$6.000M -$4.600M
YoY Change 75.0% -287.27% -1598.37%
Acquisitions
YoY Change
Other Investing Activities -$400.0K -$500.0K $600.0K
YoY Change -500.0% 150.0% 500.0%
Cash From Investing Activities -$4.700M -$6.400M -$4.100M
YoY Change 95.83% 88.24% 1950.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.200M -35.30M -73.50M
YoY Change -92.14% 53.48% -34.43%
NET CHANGE
Cash From Operating Activities 47.10M 76.60M 62.70M
Cash From Investing Activities -4.700M -6.400M -4.100M
Cash From Financing Activities -8.200M -35.30M -73.50M
Net Change In Cash 34.20M 34.90M -14.90M
YoY Change -363.08% -46.14% -79.1%
FREE CASH FLOW
Cash From Operating Activities $47.10M $76.60M $62.70M
Capital Expenditures -$4.200M -$6.000M -$4.600M
Free Cash Flow $51.30M $82.60M $67.30M
YoY Change -46.62% -6.13% 65.38%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.150
CY2019 dei Entity Registrant Name
EntityRegistrantName
LANDSTAR SYSTEM INC
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.27
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.35
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.53
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.35
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.53
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.58
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.69
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.63
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.51
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.68
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.63
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37

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