Commitments And Contingencies

3 Months Ended

Mar. 31, 2012

Commitments And Contingencies [Abstract]

Commitments And Contingencies

(8) Commitments and Contingencies

Short-term investments include $31,584,000 in current maturities of investments held by the Company's insurance segment at March 31, 2012. These short-term investments together with $18,578,000 of the non-current portion of investments included in other assets at March 31, 2012 provide collateral for the $45,146,000 of letters of credit issued to guarantee payment of insurance claims. As of March 31, 2012, Landstar also had $33,554,000 of letters of credit outstanding under the Company's Credit Agreement.

Reference is made to the descriptions of certain pending legal proceedings in the Company's Annual Reports on Form 10-K for the fiscal years ended December 31, 2011, and December 25, 2010. There have been no material developments with respect to any such pending legal proceedings during the fiscal quarter ended March 31, 2012.

In addition to the matters referred to above, the Company is involved in certain other 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 claims and that the potential of a material loss or material additional loss with respect to any claim in excess of amounts provided is remote.