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Commitments and Contingencies | 12 Months Ended
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Dec. 26, 2020
Commitments and Contingencies | (12) Commitments and Contingencies At December 26, 2020, in addition to the $64,934,000 letters of credit secured by investments, Landstar had $33,618,000 of letters of credit outstanding under the Company’s Credit Agreement. The Company is involved in certain claims and pending litigation arising from the normal conduct of business. Many of these claims are covered in whole or in part by insurance. Based on knowledge of the facts and, in certain cases, opinions of outside counsel, management believes that adequate provisions have been made for probable losses with respect to the resolution of all such claims and pending litigation and that the ultimate outcome, after provisions therefor, will not have a material adverse effect on the financial condition of the Company, but could have a material effect on the results of operations in a given quarter or year.

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