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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
Revenue $ 823,514 $ 1,045,040 $ 1,751,080 $ 2,078,040
Investment income 835 1,283 2,002 2,421
Costs and expenses:        
Purchased transportation 635,133 799,371 1,344,390 1,591,126
Commissions to agents 75,266 87,623 150,642 173,294
Other operating costs, net of gains on asset sales/dispositions 7,368 9,861 15,674 18,100
Insurance and claims 19,751 16,286 44,708 31,279
Selling, general and administrative 40,601 41,297 85,928 82,565
Depreciation and amortization 11,467 11,034 22,972 22,350
Impairment of intangible and other assets 2,582   2,582  
Total costs and expenses 792,168 965,472 1,666,896 1,918,714
Operating income 32,181 80,851 86,186 161,747
Interest and debt expense 976 709 1,928 1,514
Income before income taxes 31,205 80,142 84,258 160,233
Income taxes 6,951 19,042 19,109 35,833
Net income 24,254 61,100 65,149 124,400
Less: Net loss attributable to noncontrolling interest       (17)
Net income attributable to Landstar System, Inc. and subsidiary $ 24,254 $ 61,100 $ 65,149 $ 124,417
Earnings per common share attributable to Landstar System, Inc. and subsidiary $ 0.63 $ 1.53 $ 1.68 $ 3.11
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary $ 0.63 $ 1.53 $ 1.68 $ 3.11
Average number of shares outstanding:        
Earnings per common share 38,379,000 39,945,000 38,816,000 40,053,000
Diluted earnings per share 38,379,000 39,945,000 38,816,000 40,053,000
Dividends per common share $ 0.185 $ 0.165 $ 0.370 $ 0.330