Landstar system inc (LSTR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
OPERATING ACTIVITIES
Net income

40,895

50,048

53,255

61,100

63,300

68,300

66,948

62,492

57,473

64,683

42,420

37,510

32,383

39,574

36,278

32,314

29,184

37,855

39,348

40,471

30,015

38,491

36,755

35,925

27,638

59,557

29,246

30,426

26,780

33,978

33,101

35,855

26,847

32,694

30,158

29,598

20,557

23,879

21,536

24,210

16,957

Adjustments to reconcile net income to net cash provided by operating activities:
Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34,381

743

934

1,029

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization of operating property and intangible assets

11,505

11,423

10,695

11,034

11,316

11,050

10,754

10,769

10,997

10,599

10,130

9,897

9,934

9,687

9,016

8,655

8,438

7,849

7,185

7,049

7,019

7,156

7,086

6,565

6,768

6,924

7,180

7,125

6,438

4,737

7,072

6,664

6,740

4,569

6,549

6,388

6,399

6,360

6,456

6,196

5,792

Non-cash interest charges

63

63

64

63

63

63

64

63

63

64

62

63

64

63

63

58

54

54

55

54

55

54

55

55

54

55

55

54

55

54

55

55

54

54

55

54

55

55

54

55

55

Provisions for losses on trade and other accounts receivable

4,122

2,889

2,748

2,044

2,150

2,055

1,063

1,562

2,735

1,796

2,042

1,744

1,857

1,659

1,125

1,457

1,494

1,223

1,323

2,642

702

1,492

1,173

1,921

729

1,310

880

736

829

1,450

1,606

907

923

3,318

1,446

1,636

1,226

377

1,105

1,407

1,027

Gains on sales/disposals of operating property

858

-172

-31

343

876

-46

37

136

852

-126

199

238

463

256

1,460

887

874

-62

100

71

107

188

1,219

677

59

419

574

1,717

642

87

720

1,795

213

21

359

-43

-63

-488

-394

-156

-20

Deferred income taxes, net

-797

2,384

-2,091

-2,981

-2,079

5,344

-1,874

-6,342

757

16,323

2,474

-2,475

709

2,597

-2,882

-3,361

-2,682

-5,835

902

-974

-885

-8,780

4,650

-3,392

2,088

30

1,341

-4,808

-1,263

1,962

678

-1,770

-5,131

-14,276

490

2,647

1,068

1,067

-2,485

1,698

-805

Stock-based compensation

631

-234

1,102

1,430

1,938

5,253

4,901

4,392

3,710

4,061

1,423

1,243

994

29

652

966

1,100

1,986

1,696

1,576

1,667

2,579

1,419

1,635

1,164

778

1,141

1,374

1,618

1,536

1,427

1,661

1,525

1,229

1,310

1,268

1,205

1,202

1,199

1,183

1,185

Changes in operating assets and liabilities:
Decrease in trade and other accounts receivable

-21,369

3,192

5,213

-5,315

-84,505

-3,366

12,134

51,552

-2,901

91,731

66,587

39,344

-16,427

57,190

6,317

10,568

-67,842

2,549

-22,115

28,792

-29,939

41,433

-45,688

23,084

41,625

12,291

27,694

4,523

-15,924

-28,106

5,059

40,678

17,509

-19,416

32,163

37,238

45,364

-11,296

-16,925

43,545

22,882

Decrease in other assets

-9,987

-9,734

-1,679

25,037

-2,229

-6,817

-6,758

20,848

-4,311

-6,705

-3,987

12,484

174

-5,478

-6,759

12,722

-9,783

7,007

-4,234

9,620

-11,216

6,619

-13,165

14,032

1,560

-818

-4,241

7,454

-1,181

-1,944

-5,222

8,077

-3,458

2,027

-3,856

5,769

-5,870

2,075

-2,556

8,210

-5,977

Increase (decrease) in accounts payable

179

-13,446

-127

12,388

-40,953

406

1,960

29,288

-9,127

15,569

44,461

24,253

-15,424

15,476

11,164

15,436

-51,674

18,195

-11,293

20,592

-23,862

16,874

7,868

24,250

13,289

635

8,168

4,703

-4,625

-36,328

8,734

38,068

2,544

-21,608

5,163

14,621

23,407

-9,410

-12,841

26,043

12,475

Increase (decrease) in other liabilities

4,404

-1,710

-1,761

-10,539

-3,776

5,122

7,733

-4,297

-191

9,105

9,664

-10,041

13,357

5,724

3,471

-10,631

1,724

5,071

6,150

-419

-9,580

8,530

941

-20,047

8,108

923

-451

-7,823

4,043

-5,774

-1,628

3,591

-3,046

-18,938

15,270

-2,152

1,283

618

5,946

-2,854

7,490

Increase (decrease) in insurance claims

6,122

-6,237

12,074

2,224

-559

-3,438

1,292

2,952

739

2,045

7,536

2,773

3,702

1,298

2,529

5,658

2,285

-636

-3,744

-1,709

1,321

-6,444

-49,284

-15,972

1,251

3,473

25,049

646

880

-7,393

-657

-3,123

-6,542

-1,729

30,132

1,061

2,971

5,568

1,191

-4,201

-3,182

NET CASH PROVIDED BY OPERATING ACTIVITIES

99,216

47,126

76,638

62,660

121,416

93,696

91,176

41,027

72,002

6,699

52,465

17,851

61,948

18,945

66,162

33,097

72,038

67,938

66,067

32,747

49,270

29,272

58,997

-69

13,669

27,352

45,157

27,421

52,715

17,046

48,475

34,898

19,912

29,769

60,927

6,863

16,604

40,475

42,036

2,138

24,109

INVESTING ACTIVITIES
Net changes in other short-term investments

-131

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,754

-24

3,249

-

-

-

-

-

-

-

-

-

-

-

-

-1,581

1,581

-2,967

1,237

Sales and maturities of investments

7,963

6,455

15,122

15,606

25,739

17,317

15,860

5,701

12,698

13,525

9,431

10,331

23,155

11,215

7,126

12,818

10,636

9,139

12,889

6,005

10,651

9,674

4,197

6,272

14,558

5,512

8,969

11,594

12,702

12,139

7,612

4,365

8,912

1,528

20,824

20,952

23,870

8,042

14,009

11,054

6,082

Purchases of investments

8,830

7,093

16,017

16,105

26,707

17,745

16,643

6,254

13,399

14,081

10,063

10,682

23,678

11,591

7,561

13,187

11,190

9,487

14,699

8,945

11,107

10,048

4,618

6,749

15,058

6,017

9,439

12,005

23,152

12,636

8,028

10,019

26,214

134

18,838

18,791

20,650

4,953

13,149

41,441

6,275

Purchases of operating property

5,799

4,217

5,975

4,648

4,576

2,422

3,204

307

3,814

6,786

2,172

1,650

4,978

4,812

8,878

8,127

828

1,006

748

600

2,450

1,408

7,777

622

732

1,573

2,056

1,022

1,722

960

1,446

1,956

1,026

164

631

1,021

1,808

2,031

790

2,445

22,239

Proceeds from sales of operating property

2,081

370

402

1,089

2,130

476

603

654

2,285

438

801

1,128

1,665

1,590

3,831

2,518

2,273

118

286

625

656

1,305

3,750

2,134

276

1,049

1,836

4,883

1,943

733

2,747

5,177

1,073

1,922

1,734

429

300

738

607

286

55

NET CASH USED BY INVESTING ACTIVITIES

-4,454

-4,616

-6,468

-4,058

-3,414

-2,374

-3,384

-206

-2,230

-7,165

-10,202

-873

-3,836

-3,598

-5,482

-5,978

891

-1,236

-2,272

-2,915

-2,250

4,502

-6,202

1,059

-4,205

77,567

-4,781

3,450

-10,229

-724

885

-2,433

-17,255

3,152

3,089

1,569

1,712

3,377

-904

-29,579

-23,614

FINANCING ACTIVITIES
Decrease in cash overdraft

-17,876

9,253

1,005

2,101

-13,820

15,580

-5,606

9,045

-5,922

8,389

-292

4,772

-6,878

8,526

-2,630

282

-5,536

5,943

-2,051

3,307

-6,219

2,397

5,030

6,023

-6,601

5,761

-619

-332

-2,193

-1,153

2,647

1,321

-3,154

2,754

-3,286

2,940

-1,470

2,380

-7,796

7,002

-5,628

Dividends paid

86,283

7,302

7,332

6,628

6,629

6,657

6,780

6,188

69,293

4,199

4,195

3,774

3,770

3,760

3,790

3,386

3,396

3,415

3,487

3,074

47,906

3,134

3,131

2,700

18,641

-

-

-

-

26,025

2,799

2,583

2,574

2,576

2,619

2,394

2,394

2,419

2,476

2,265

2,262

Proceeds from exercises of stock options

575

427

286

24

319

38

358

60

979

652

569

245

1,717

889

540

795

105

383

542

105

429

786

863

978

1,133

70

368

274

1,611

73

155

408

3,747

369

101

485

70

133

19

1,349

159

Taxes paid in lieu of shares issued related to stock-based compensation plans

2,994

7

11

515

7,923

2

1,124

108

2,704

510

6

26

339

1,328

25

163

1,527

49

93

14

2,069

1,622

695

74

1,650

-1

134

0

1,633

0

1

-2

3,024

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

1,043

66

128

149

19

136

30

486

1,173

658

164

505

6

91

-3

255

-88

-47

22

864

-561

0

59

-181

24

399

1,148

9

Borrowings on revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

15,000

10,000

15,000

Purchases of common stock

115,962

0

18,849

56,752

12,977

102,599

0

103,980

1,508

-

-

-

-

0

24,031

16,257

10,228

53,938

22,579

53,335

31,300

0

0

19,341

37,052

-

-

-

-

-

-

-

-

-

-

-

-

48,089

29,587

20,553

4,507

Principal payments on finance lease obligations

10,923

10,494

10,483

11,663

11,995

10,620

9,895

10,936

11,832

11,089

11,245

12,009

12,408

12,345

12,146

11,686

11,315

9,548

8,860

8,894

9,218

9,305

8,001

7,248

12,862

17,772

12,442

11,707

19,853

5,098

25,340

64,834

26,006

15,670

5,603

5,949

6,023

6,361

6,711

6,609

6,592

Purchase of noncontrolling interest

-

0

0

0

600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,000

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

0

0

0

985

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from discontinued operations:
Operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,854

1,885

4,510

119

-

-

-

-

-

-

-

-

-

-

-

-

Financing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

240

488

-28

-4,069

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,992

2,312

4,477

-3,950

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH USED BY FINANCING ACTIVITIES

-233,463

-8,123

-35,384

-73,433

-53,625

-104,260

-23,047

-112,107

-91,265

-6,757

-15,169

-10,792

-21,678

-6,975

-43,064

-30,287

-31,748

-60,605

-36,392

-61,875

-95,797

-9,705

-5,276

-22,198

-75,168

-24,827

-12,736

-58,371

-21,813

-33,535

-34,215

-21,416

-30,147

-24,270

-34,107

-14,125

-17,998

-54,332

-31,152

-9,928

-3,821

Effect of exchange rate changes on cash and cash equivalents

-3,590

694

-564

418

512

-1,300

588

-678

-318

-102

545

448

137

-280

-181

254

583

-476

-930

-418

-280

-716

-61

175

-432

-334

126

-285

-225

-114

421

-268

204

-340

-44

7

206

111

14

-43

100

(Decrease) increase in cash and cash equivalents

-142,291

35,081

34,222

-14,413

64,889

-14,238

65,333

-71,964

-21,811

-7,325

27,639

6,634

36,571

8,092

17,435

-2,914

41,764

5,621

26,473

-32,461

-49,057

23,353

47,458

-21,033

-66,136

82,750

30,078

-23,308

16,498

-5,677

15,566

10,781

-27,286

11,491

29,865

-5,686

524

-10,369

9,994

-37,412

-3,226