Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - LANDSTAR SYSTEM INC | d650218d8k.htm |
| EX-99.4 - EX-99.4 - LANDSTAR SYSTEM INC | d650218dex994.htm |
| EX-99.1 - EX-99.1 - LANDSTAR SYSTEM INC | d650218dex991.htm |
| EX-99.2 - EX-99.2 - LANDSTAR SYSTEM INC | d650218dex992.htm |
Exhibit 99.3
Landstar System, Inc.
Selected Consolidated Financial Data
(Dollars in thousand, except per share amounts)
(unaudited)
| Fiscal Years | 39 weeks ended September 28, |
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| Income statement data: |
2009 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||
| Revenue |
$ | 1,998,459 | $ | 2,380,112 | $ | 2,628,374 | $ | 2,770,799 | $ | 1,972,805 | ||||||||||
| Investment income |
1,268 | 1,558 | 1,705 | 1,563 | 1,111 | |||||||||||||||
| Costs and expenses |
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| Purchased transportation |
1,503,520 | 1,824,308 | 2,007,666 | 2,130,323 | 1,512,677 | |||||||||||||||
| Commission to agents |
160,571 | 181,354 | 209,917 | 218,122 | 156,377 | |||||||||||||||
| Other operating costs |
27,471 | 26,744 | 28,285 | 22,582 | 15,396 | |||||||||||||||
| Insurance and claims |
45,813 | 49,156 | 42,638 | 37,289 | 36,907 | |||||||||||||||
| Selling, general and administrative |
126,474 | 132,839 | 136,841 | 138,094 | 94,967 | |||||||||||||||
| Depreciation and amortization |
22,682 | 23,165 | 23,905 | 25,213 | 20,743 | |||||||||||||||
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| Total costs and expenses |
1,886,531 | 2,237,566 | 2,449,252 | 2,571,623 | 1,837,067 | |||||||||||||||
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| Operating income |
113,196 | 144,104 | 180,827 | 200,739 | 136,849 | |||||||||||||||
| Interest and debt expense |
4,030 | 3,624 | 3,109 | 3,110 | 2,367 | |||||||||||||||
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| Income from continuing operations before income taxes |
109,166 | 140,480 | 177,718 | 197,629 | 134,482 | |||||||||||||||
| Income taxes |
39,520 | 51,223 | 66,175 | 71,063 | 50,736 | |||||||||||||||
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| Income from continuing operations |
69,646 | 89,257 | 111,543 | 126,566 | 83,746 | |||||||||||||||
| Discontinued operations: |
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| Income (loss) from operations of discontinued component |
749 | (1,743 | ) | 1,464 | 3,215 | 2,706 | ||||||||||||||
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| Income (loss) from discontinued operations |
749 | (1,743 | ) | 1,464 | 3,215 | 2,706 | ||||||||||||||
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| Net income |
$ | 70,395 | $ | 87,514 | $ | 113,007 | $ | 129,781 | $ | 86,452 | ||||||||||
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| EPS - Continuing operations |
$ | 1.36 | $ | 1.80 | $ | 2.35 | $ | 2.71 | $ | 1.81 | ||||||||||
| Diluted EPS - Continuing operations |
$ | 1.36 | $ | 1.80 | $ | 2.35 | $ | 2.70 | $ | 1.81 | ||||||||||
| EPS - Discontinued operations |
$ | 0.02 | $ | (0.03 | ) | $ | 0.03 | $ | 0.07 | $ | 0.06 | |||||||||
| Diluted EPS - Discontinued operations |
$ | 0.01 | $ | (0.03 | ) | $ | 0.03 | $ | 0.07 | $ | 0.06 | |||||||||
| Earnings per share |
$ | 1.38 | $ | 1.77 | $ | 2.38 | $ | 2.78 | $ | 1.87 | ||||||||||
| Diluted earnings per share |
$ | 1.37 | $ | 1.77 | $ | 2.38 | $ | 2.77 | $ | 1.87 | ||||||||||
| Dividends paid per common share |
$ | 0.170 | $ | 0.190 | $ | 0.210 | $ | 0.730 | $ | — | ||||||||||
| Balance sheet data: |
Dec 26, 2009 | Dec 25, 2010 | Dec 31, 2011 | Dec 29, 2012 | Sep 28, 2013 | |||||||||||||||
| Total assets |
$ | 648,792 | $ | 683,882 | $ | 808,449 | $ | 879,421 | $ | 950,932 | ||||||||||
| Long-term debt, including current maturities |
92,898 | 121,611 | 132,342 | 114,141 | 118,056 | |||||||||||||||
| Shareholders’ equity |
268,151 | 250,967 | 300,577 | 379,454 | 423,261 | |||||||||||||||
All information above has been adjusted for the completion of the sale of Landstar Supply Chain Solutions, Inc., including its wholly owned subsidiary, Landstar Supply Chain Solution LLC (collectively, “LSCS”), to XPO Logistics, Inc. (the “Transaction”) and the treatment of LSCS as a discontinued operation effective December 28, 2013.