Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share

(5) Earnings Per Share

Earnings per common share attributable to Landstar are based on the weighted average number of common shares outstanding, which includes outstanding non-vested restricted stock. Diluted earnings per share attributable to Landstar are based on the weighted average number of common shares outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options.

The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per share attributable to Landstar to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share attributable to Landstar (in thousands):

	Twenty Six Weeks Ended				Thirteen Weeks Ended
	June 30, 2012		June 25, 2011		June 30, 2012		June 25, 2011
Average number of common shares outstanding		46,856		47,826		46,915		47,782
Incremental shares from assumed exercises of stock options		227		81		189		130
Average number of common shares and common share equivalents outstanding		47,083		47,907		47,104		47,912

For both the twenty-six-week and thirteen-week periods ended June 30, 2012, 2,000 options outstanding to purchase shares of common stock were excluded from the calculation of diluted earnings per share attributable to Landstar because they were antidilutive. For the twenty-six-week and thirteen-week periods ended June 25, 2011, there were 79,000 and 74,000, respectively, options outstanding to purchase shares of common stock excluded from the calculation of diluted earnings per share attributable to Landstar because they were antidilutive. For the twenty-six-week and thirteen-week periods ended June 30, 2012, RSUs were excluded from the calculation of diluted earnings per share attributable to Landstar because the performance metrics requirements for vesting have not been satisfied.