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Equity Investment
12 Months Ended
Dec. 30, 2023
Equity investment
(14) Equity investment
On April 1, 2022, Landstar Investment Holdco, LLC, a newly formed Delaware LLC and wholly owned subsidiary of Landstar System Holdings, Inc., purchased Class A units of Cavnue, LLC, for approximately $4,999,000 in cash consideration. Cavnue, LLC is a privately held company focused on combining technology and road infrastructure to unlock the full potential of connected and autonomous vehicles.
This
non-controlling
investment in units of Cavnue, LLC, is considered an investment in
non-marketable
equity securities without a readily determinable market value. The carrying value of our
non-marketable
equity securities going forward will be adjusted to fair value upon observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative).