8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 29, 2020

LANDSTAR SYSTEM, INC.

(Exact name of registrant as specified in its charter)

Delaware	021238	06-1313069
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

13410 Sutton Park Drive South, Jacksonville, Florida	32224
(Address of principal executive offices)	(Zip Code)

(904) 398-9400

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	LSTR	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition

On January 29, 2020, Landstar System, Inc. (“Landstar” or the “Company”) issued a press release announcing results for the fourth quarter of fiscal 2019. A copy of the press release is attached hereto as Exhibit 99.1.

The information contained in Item 7.01 concerning the presentation to Landstar investors is hereby incorporated into this Item 2.02 by reference.

The information furnished under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 7.01 Regulation FD Disclosure

A slide presentation, dated January 29, 2020, is attached hereto as Exhibit 99.2 and is incorporated herein by reference. The slide presentation provides information that may be referred to by the Company on its conference call with investors scheduled to occur on January 30, 2020 in connection with the Company’s release of results for the fourth quarter of fiscal 2019.

The information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits

Exhibits
	99.1	News Release dated January 29, 2020 of Landstar System, Inc.
	99.2	Slide Presentation dated January 29, 2020 of Landstar System, Inc.
	104	Inline XBRL for the cover page of this Current Report on Form 8-K

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LANDSTAR SYSTEM, INC.
Date: January 29, 2020	By:	/s/ L. Kevin Stout
	Name:	L. Kevin Stout
	Title:	Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

For Immediate Release	Contact: Kevin Stout
	Landstar System, Inc.
	www.landstar.com
January 29, 2020	904-398-9400

LANDSTAR SYSTEM REPORTS FOURTH QUARTER

REVENUE OF $994.9 MILLION AND

DILUTED EARNINGS PER SHARE OF $1.27

Jacksonville, FL - Landstar System, Inc. (NASDAQ: LSTR) reported diluted earnings per share of $1.27 in the 2019 fourth quarter on revenue of $994.9 million. Revenue in the 2019 fourth quarter was at the mid-point of the Company’s guidance issued on October 23, 2019, while diluted earnings per share was below the low-end of the guidance of $1.40. As further described later in this press release, the shortfall in diluted earnings per share to our guidance was entirely attributable to insurance and claims costs in the quarter, well above the insurance and claims costs anticipated as part of the October 23, 2019 earnings guidance. Landstar reported diluted earnings per share of $1.68 on revenue of $1.182 billion in the 2018 fourth quarter.

Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2019 fourth quarter was $911.8 million, or 92 percent of revenue, compared to $1.078 billion, or 91 percent of revenue, in the 2018 fourth quarter. Truckload transportation revenue hauled via van equipment in the 2019 fourth quarter was $571.8 million compared to $705.0 million in the 2018 fourth quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2019 fourth quarter was $315.2 million compared to $346.6 million in the 2018 fourth quarter. Revenue hauled by rail, air and ocean cargo carriers was $63.0 million, or 6 percent of revenue, in the 2019 fourth quarter compared to $84.8 million, or 7 percent of revenue, in the 2018 fourth quarter.

LANDSTAR SYSTEM/2

Trailing twelve-month return on average shareholders’ equity was 31 percent and trailing twelve-month return on invested capital, representing net income divided by the sum of average equity plus average debt, was 27 percent. Landstar purchased approximately 849,000 shares of its common stock during fiscal year 2019 at an aggregate cost of approximately $88.6 million. As previously disclosed by the Company in a Form 8-K filed with the Securities and Exchange Commission on December 10, 2019, its Board of Directors increased the number of shares of its common stock that the Company is authorized to purchase under its stock purchase program by 1,849,068 and declared a special one-time cash dividend in the amount of $2.00 per share that was paid on January 24, 2020, to stockholders of record as of the close of business on January 10, 2020. Currently, Landstar is authorized to purchase up to a total of 3,000,000 shares of the Company’s common stock under its share purchase programs. In addition, Landstar announced today that its Board of Directors has declared a quarterly dividend of $0.185 per share payable on March 13, 2020, to stockholders of record as of the close of business on February 17, 2020. It is currently the intention of the Board to pay dividends on a quarterly basis going forward. As of December 28, 2019, the Company had $352 million in cash and short term investments and $216 million available for borrowings under the Company’s senior credit facility.

“As expected, the macroeconomic environment during the 2019 fourth quarter made for challenging comparisons against our record 2018 fourth quarter performance,” said Landstar President and Chief Executive Officer Jim Gattoni. “Soft demand, driven by slowing production in the U.S. manufacturing sector, and more readily available truck capacity drove Landstar’s truck rates and volumes below prior year levels in the 2019 fourth quarter. Overall, 2019 fourth quarter revenue was 16 percent below 2018 fourth quarter revenue, mostly due to a 9 percent decrease in revenue per load on loads hauled via truck and a 7 percent decrease in truck loadings. The Company’s fourth quarter earnings guidance issued on October 23, 2019 anticipated fourth quarter diluted earnings per share of $1.40 to $1.46 reflecting insurance and claims costs at 3.6 percent of estimated fourth quarter BCO revenue. Diluted earnings per share fell below our guidance, entirely due to higher insurance and claims costs than we anticipated in our initial estimate. During the 2019 fourth quarter, we incurred $7.2 million of unfavorable development of prior year claims that drove actual insurance and claims costs to 5.7 percent of BCO revenue in the quarter.”

LANDSTAR SYSTEM/3

Gattoni further commented, “Landstar’s financial performance in 2018 was by far the best in the Company’s history, making for very difficult comparisons in 2019. We experienced year-over-year declines in both truck volumes and price for much of 2019, and revenue for fiscal year 2019 was 11% below that of fiscal year 2018. Nevertheless, 2019 was still the second best financial year in the Company’s history after 2018, with 2019 revenue, gross profit, operating income and diluted earnings per share each representing the second highest annual amount achieved in Landstar history.”

Gattoni continued, “January of any given year is typically the slowest month of the year. Through the first several weeks of January, there has been little change in the macroeconomic environment experienced throughout 2019, characterized by soft demand, weakness in the U.S. manufacturing sector, and readily available truck capacity. Additionally, the 2019 first quarter was seasonally the strongest quarter of 2019, setting the stage for a difficult quarter-over-prior-year-quarter comparison heading into the first quarter of 2020. I expect these conditions to result in earnings in the 2020 first quarter to be well below that of the 2019 first quarter. From a revenue standpoint, the number of loads hauled via truck in the first few weeks of 2020 was below the corresponding period of the prior year in a mid-single digit percentage range, somewhat similar to the year-over-prior-year percentage decrease experienced in the 2019 fourth quarter. Revenue per load on loads hauled via truck in the first few weeks of January was below the same period of the prior year in a mid-single digit percentage range, a slight improvement to the year-over-prior-year percentage decrease experienced in the 2019 fourth quarter. I expect the volume and pricing trends experienced in the first few weeks of January to continue through the first quarter. As such, I anticipate revenue for the 2020 first quarter to be in a range of $915 million to $965 million.”

Gattoni added that, “In early January, a BCO with a motor carrier subsidiary of the Company was involved in a tragic vehicular accident involving a fatality. The Company is still in the process of obtaining all the facts concerning this incident and, as such, it is too soon to estimate the ultimate financial exposure of this tragic accident. Current facts

LANDSTAR SYSTEM/4

as known to us indicate that it is probable this accident will adversely impact the financial results of the Company’s 2020 first quarter. It is highly likely that, once all facts are determined, the estimated ultimate cost of this tragic accident will reduce first quarter diluted earnings per share to an amount below the low-end of the Company’s 2020 first quarter diluted earnings per share guidance. While our evaluation is still preliminary and our investigation continues, the Company’s pre-tax loss exposure at the time of this accident included our $5 million self-insured retention and up to $3.5 million relating to aggregate losses above our self-insured retention during an annual policy year (May 1 to April 30). Additional insurance and claims expense of $8.5 million in the 2020 first quarter would result in a charge of $0.16 per diluted share.”

Gattoni concluded, “Based on the range of revenue estimated for the 2020 first quarter and excluding the cost of the ultimate resolution of this recent tragic accident, I would anticipate diluted earnings per share to be in a range of $1.10 to $1.20. This range of diluted earnings per share includes insurance and claims expense estimated at 4.0 percent of BCO revenue, representing average insurance and claims costs as a percentage of BCO revenue over the past three years.”

Landstar will provide a live webcast of its quarterly earnings conference call tomorrow morning at 8:00 a.m. ET. To access the webcast, visit the Company’s website at www.landstar.com; click on “Investor Relations” and “Webcasts,” then click on “Landstar’s Fourth Quarter 2019 Earnings Release Conference Call.”

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are “forward-looking statements”. This press release contains forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Terms such as “anticipates,” “believes,” “estimates,” “intention,” “expects,” “plans,” “predicts,” “may,” “should,” “could,” “will,” the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party

LANDSTAR SYSTEM/5

insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; decreased demand for transportation services; U.S. foreign trade relationships; substantial industry competition; disruptions or failures in the Company’s computer systems; cyber and other information security incidents; dependence on key vendors; changes in fuel taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; catastrophic loss of a Company facility; intellectual property; unclaimed property; and other operational, financial or legal risks or uncertainties detailed in Landstar’s Form 10K for the 2018 fiscal year, described in Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

About Landstar:

Landstar System, Inc. is a worldwide, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market^® under the symbol LSTR.

(Tables follow)

LANDSTAR SYSTEM/6

Landstar System, Inc. and Subsidiary

Consolidated Statements of Income

(Dollars in thousands, except per share amounts)

(Unaudited)

	Fiscal Years Ended						Fiscal Quarters Ended
	December 28,			December 29,			December 28,		December 29,
	2019			2018			2019		2018
Revenue	$	4,084,577		$	4,615,144		$	994,879	$	1,182,351
Investment income		5,041			3,816			1,305		1,062
Costs and expenses:
Purchased transportation		3,127,474			3,569,961			761,828		911,251
Commissions to agents		342,226			378,002			84,364		102,174
Other operating costs, net of gains/losses on asset sales/dispositions		37,274			31,803			8,743		7,627
Insurance and claims		80,319			75,677			25,071		17,959
Selling, general and administrative		158,953			188,212			38,236		47,264
Depreciation and amortization		44,468			43,570			11,423		11,050
Total costs and expenses		3,790,714			4,287,225			929,665		1,097,325
Operating income		298,904			331,735			66,519		86,088
Interest and debt expense		3,141			3,354			863		899
Income before income taxes		295,763			328,381			65,656		85,189
Income taxes		68,060			73,168			15,608		16,889
Net income		227,703			255,213			50,048		68,300
Less: Net (loss)/income attributable to noncontrolling interest		(17	)		(68	)		—		44
Net income attributable to Landstar System, Inc. and subsidiary	$	227,720		$	255,281		$	50,048	$	68,256
Earnings per common share attributable to Landstar System, Inc. and subsidiary	$	5.72		$	6.19		$	1.27	$	1.69
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary	$	5.72		$	6.18		$	1.27	$	1.68
Average number of shares outstanding:
Earnings per common share		39,786,000			41,273,000			39,472,000		40,501,000
Diluted earnings per share		39,786,000			41,310,000			39,472,000		40,514,000
Dividends per common share	$	2.700		$	0.630		$	2.185	$	0.165

LANDSTAR SYSTEM/7

Landstar System, Inc. and Subsidiary

Consolidated Balance Sheets

(Dollars in thousands, except per share amounts)

(Unaudited)

	December 28,			December 29,
	2019			2018
ASSETS
Current assets:
Cash and cash equivalents	$	319,515		$	199,736
Short-term investments		32,901			40,058
Trade accounts receivable, less allowance of $7,284 and $6,413		588,549			691,604
Other receivables, including advances to independent contractors, less allowance of $7,667 and $6,216		35,553			23,744
Other current assets		21,370			16,287
Total current assets		997,888			971,429
Operating property, less accumulated depreciation and amortization of $280,849 and $250,153		285,855			284,032
Goodwill		38,508			38,232
Other assets		105,460			86,871
Total assets	$	1,427,711		$	1,380,564
LIABILITIES AND EQUITY
Current liabilities:
Cash overdraft	$	53,878		$	55,339
Accounts payable		271,996			314,134
Current maturities of long-term debt		42,632			43,561
Insurance claims		44,532			40,176
Dividends payable		78,947			—
Accrued compensation		9,884			29,489
Other current liabilities		51,035			53,119
Total current liabilities		552,904			535,818
Long-term debt, excluding current maturities		70,212			84,864
Insurance claims		33,575			30,429
Deferred income taxes and other non-current liabilities		49,551			40,320
Equity
Landstar System, Inc. and subsidiary shareholders’ equity
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,083,419 and 67,870,962 shares		681			679
Additional paid-in capital		226,123			226,852
Retained earnings		1,962,161			1,841,279
Cost of 28,609,926 and 27,755,001 shares of common stock in treasury		(1,465,284	)		(1,376,111	)
Accumulated other comprehensive loss		(2,212	)		(5,875	)
Total Landstar System, Inc. and subsidiary shareholders’ equity		721,469			686,824
Noncontrolling interest		—			2,309
Total equity		721,469			689,133
Total liabilities and equity	$	1,427,711		$	1,380,564

LANDSTAR SYSTEM/8

Landstar System, Inc. and Subsidiary

Supplemental Information

(Unaudited)

	Fiscal Years Ended						Fiscal Quarters Ended
	December 28,			December 29,			December 28,			December 29,
	2019			2018			2019			2018
Revenue generated through (in thousands):
Truck transportation
Truckload:
Van equipment	$	2,371,188		$	2,791,494		$	571,767		$	704,971
Unsided/platform equipment		1,295,817			1,386,387			315,202			346,603
Less-than-truckload		98,324			102,531			24,849			26,083
Total truck transportation		3,765,329			4,280,412			911,818			1,077,657
Rail intermodal		118,305			128,976			30,750			32,950
Ocean and air cargo carriers		121,485			134,577			32,227			51,858
Other (1)		79,458			71,179			20,084			19,886
	$	4,084,577		$	4,615,144		$	994,879		$	1,182,351
Revenue on loads hauled via BCO Independent Contractors (2) included in total truck transportation	$	1,831,752		$	2,001,665		$	441,617		$	482,321
Number of loads:
Truck transportation
Truckload:
Van equipment		1,337,089			1,398,388			322,517			353,066
Unsided/platform equipment		513,579			516,613			122,467			127,854
Less-than-truckload		155,592			145,269			39,976			38,630
Total truck transportation		2,006,260			2,060,270			484,960			519,550
Rail intermodal		47,590			53,030			12,220			12,770
Ocean and air cargo carriers		30,110			28,970			7,960			7,720
		2,083,960			2,142,270			505,140			540,040
Loads hauled via BCO Independent Contractors (2) included in total truck transportation		954,990			949,330			232,120			231,860
Revenue per load:
Truck transportation
Truckload:
Van equipment	$	1,773		$	1,996		$	1,773		$	1,997
Unsided/platform equipment		2,523			2,684			2,574			2,711
Less-than-truckload		632			706			622			675
Total truck transportation		1,877			2,078			1,880			2,074
Rail intermodal		2,486			2,432			2,516			2,580
Ocean and air cargo carriers		4,035			4,645			4,049			6,717
Revenue per load on loads hauled via BCO Independent Contractors (2)	$	1,918		$	2,109		$	1,903		$	2,080
Revenue by capacity type (as a % of total revenue);
Truck capacity providers:
BCO Independent Contractors (2)		45	%		43	%		44	%		41	%
Truck Brokerage Carriers		47	%		49	%		47	%		50	%
Rail intermodal		3	%		3	%		3	%		3	%
Ocean and air cargo carriers		3	%		3	%		3	%		4	%
Other		2	%		2	%		2	%		2	%
							December 28,			December 29,
							2019			2018
Truck Capacity Providers
BCO Independent Contractors (2)								9,554			9,884
Truck Brokerage Carriers:
Approved and active (3)								39,497			41,069
Other approved								16,820			17,985
								56,317			59,054
Total available truck capacity providers								65,871			68,938
Trucks provided by BCO Independent Contractors (2)								10,243			10,599

(1) Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by Landstar Metro.

(2) BCO Independent Contractors are independent contractors who provide truck capacity to the Company under exclusive lease arrangements.

(3) Active refers to Truck Brokerage Carriers who moved at least one load in the 180 days immediately preceding the fiscal quarter end.

EX-99.2

January 29, 2020 Landstar System, Inc. Earnings Conference Call Fourth Quarter 2019 Date Published: 01/29/2020 Exhibit 99.2

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements made during this presentation that are not based on historical facts are “forward looking statements.” During this presentation, I may make certain statements, containing forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Such statements are by nature subject to uncertainties and risks, including but not limited to: the operational, financial and legal risks detailed in Landstar’s Form 10-K for the 2018 fiscal year, described in the section Risk Factors, and other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and Landstar undertakes no obligation to publicly update or revise any forward-looking statements. Date Published: 01/29/2020

Model Definition Landstar is a worldwide, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third party capacity providers and employees. Date Published: 01/29/2020

The Network Landstar Employees Approx. 1,200 Agents Approx. 1,200 Customers 25,000+ Capacity 65,000+ 2019 Results $4.1 billion in revenue 2.1 million loadings 555 million dollar agents 10,243 BCO trucks (2019 year-end) 56,317 Carriers (2019 year-end) 17,000+ Trailers (2019 year-end) Date Published: 01/29/2020

Percentage of Revenue 4Q18 4Q19 Truck Transportation Truckload Van equipment 60% 57% Unsided/platform equipment 29% 32% Less-than-truckload 2% 2% Rail intermodal 3% 3% Ocean and air cargo 4% 3% Transportation Management Services Date Published: 01/29/2020

Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 01/29/2020 Quarter Fiscal Year

Van Equipment Unsided/Platform Equipment Truckload Loadings and Revenue per Load (Excludes LTL) Date Published: 01/29/2020 The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2019, 2018 and 2017 fourth quarters included thirteen weeks of operations whereas the 2016 fourth quarter included fourteen weeks.

As a Percentage of Revenue 4Q18 4Q19 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 24.2 24.6 -15% Machinery 13.6 14.1 -13% Automotive 9.1 7.7 -29% Building Products 8.3 9.0 -9% Metals 5.8 5.7 -17% AA&E, Hazmat 7.1 8.2 -3% Foodstuffs 4.1 4.5 -7% Energy 2.8 3.7 10% Other 25.0 22.5 -24% Transportation Revenue 100.0 100.0 -16% Industries Served Date Published: 01/29/2020

14.3% 14.9% Gross profit equals revenue less the cost of purchased transportation and commissions to agents. Gross profit margin equals gross profit divided by revenue. Revenue on transactions with a fixed gross profit margin was 50% and 51% of revenue in the 2018 and 2019 year-to-date periods, respectively, and 48% and 51% of revenue in the 2018 and 2019 fourth quarters, respectively. Gross Profit (1) and Gross Profit Margin (2) ($’s in thousands) Date Published: 01/29/2020 Quarter Fiscal Year 14.5% 15.1%

48.4% 4 Operating margin equals operating income divided by gross profit. Operating Income and Operating Margin (1) ($’s in thousands) Date Published: 01/29/2020 Quarter Fiscal Year 51.0% 44.7% 49.7% 10 48.6%

Date Published: 01/29/2020 Truck Capacity Data (All information is provided as of the end of the period)

(1) Net cash is defined as cash and cash equivalents plus short term investments less outstanding debt. Date Published: 01/29/2020 Key Balance Sheet and Cash Flow Statistics ($’s in thousands)

Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 01/29/2020 (In Thousands) (1) Free cash flow is defined as cash flow from operations less capital expenditures, each set forth on the prior slide.

Date Published: 01/29/2020

XML

Document and Entity Information	Jan. 29, 2020
Cover [Abstract]
Entity Registrant Name	LANDSTAR SYSTEM INC
Entity File Number	021-238
Amendment Flag	false
Entity Central Index Key	0000853816
Document Type	8-K
Document Period End Date	Jan. 29, 2020
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	06-1313069
Entity Address, Address Line One	13410 Sutton Park Drive South
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32224
City Area Code	(904)
Local Phone Number	398-9400
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock
Trading Symbol	LSTR
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false