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Segment Information | 12 Months Ended
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Dec. 28, 2024
Segment Information | (12) Segment Information Landstar markets its integrated transportation management solutions primarily through independent commission sales agents and exclusively utilizes third party capacity providers to transport customers’ freight. Landstar’s independent commission sales agents enter into contractual arrangements with the Company and are responsible for locating freight, making that freight available to Landstar’s capacity providers and coordinating the transportation of the freight with customers and capacity providers. The Company’s third party capacity providers consist of independent contractors who provide truck capacity to the Company under exclusive lease arrangements (the “BCO Independent Contractors”), unrelated trucking companies who provide truck capacity to the Company under non-exclusive contractual arrangements (the “Truck Brokerage Carriers”), air cargo carriers, ocean cargo carriers and railroads. Through this network of agents and capacity providers linked together by Landstar’s ecosystem of digital technologies, Landstar operates an integrated transportation management solutions business primarily throughout North America with revenue of $4.8 billion during the most recently completed fiscal year. The Company reports the results of two operating segments: the transportation logistics segment and the insurance segment. The transportation logistics segment provides a wide range of integrated transportation management solutions. Transportation services offered by the Company include truckload, less-than-truckload and other truck transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo and customs brokerage. Examples of the industries serviced by the transportation logistics segment include automotive parts and assemblies, consumer durables, building products, metals, chemicals, foodstuffs, heavy machinery, retail, electronics and military equipment and general commodities. In addition, the transportation logistics segment provides transportation services to other transportation companies, including third party logistics and less-than-truckload service providers. The independent commission sales agents market services provided by the transportation logistics segment. Billings for freight transportation services are typically charged to customers on a per shipment basis for the physical transportation of freight and are referred to as transportation revenue. The results of operations from Landstar Blue and Landstar Metro are presented as part of the Company’s transportation logistics segment. The insurance segment is comprised of Signature Insurance Company (“Signature”), a wholly owned offshore insurance subsidiary, and Risk Management Claim Services, Inc. The insurance segment provides risk and claims management services to certain of Landstar’s operating subsidiaries. In addition, it reinsures certain risks of the Company’s BCO Independent Contractors and provides certain property and casualty insurance directly to certain of Landstar’s operating subsidiaries. Revenue at the insurance segment represents reinsurance premiums from third party insurance companies that provide insurance programs to BCO Independent Contractors where all or a portion of the risk is ultimately borne by Signature. Internal revenue for premiums billed by the insurance segment to the transportation logistics segment is calculated each fiscal period based primarily on an actuarial calculation of historical loss experience and is believed to approximate the cost that would have been incurred by the transportation logistics segment had similar insurance been obtained from an unrelated third party. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company’s chief operating decision maker (“CODM”) is our Chief Executive Officer. The CODM evaluates each segment’s performance and makes decisions about resource allocations primarily based on operating income, which is the principal financial metric utilized to monitor budgeted versus actual results by segment of the Company. Asset information by segment is not typically provided to the CODM for purposes of evaluating performance or allocating resources, and therefore such information has not been presented. No single customer accounted for more than 10% of the Company’s consolidated revenue in fiscal years 2024, 2023 and 2022. Substantially all of the Company’s revenue is generated in North America, primarily through customers located in the United States. The following tables summarize information about the Company’s reportable business segments as of and for the fiscal years ending December 28, 2024, December 30, 2023 and December 31, 2022 (in thousands):
|  | Transportation Logistics |  |  | Insurance |  |  | Total |
2024 |  |  |  |  |  |  |  |
External revenue |  | $ | 4,756,008 |  |  | $ | 63,237 |  |  | $ | 4,819,245 |
Internal revenue |  |  | — |  |  |  | 57,476 |  |  |  | 57,476 |
Total revenue |  |  | 4,756,008 |  |  |  | 120,713 |  |  |  | 4,876,721 |
Investment income |  |  |  |  |  |  | 14,810 |  |  |  | 14,810 |
Purchased transportation |  |  | 3,745,241 |  |  |  |  |  |  |  | 3,745,241 |
Commissions to agents |  |  | 392,751 |  |  |  |  |  |  |  | 392,751 |
Other operating costs, net of gains on asset sales/dispositions |  |  | 58,781 |  |  |  |  |  |  |  | 58,781 |
Insurance and claims |  |  | 92,712 |  |  |  | 78,693 |  |  |  | 171,405 |
Selling, general and administrative |  |  | 204,089 |  |  |  | 13,619 |  |  |  | 217,708 |
Depreciation and amortization |  |  | 56,738 |  |  |  |  |  |  |  | 56,738 |
Operating income |  |  | 205,696 |  |  |  | 43,211 |  |  |  | 248,907 |
Goodwill |  |  | 40,933 |  |  |  |  |  |  |  | 40,933 |
|  | Transportation Logistics |  |  | Insurance |  |  | Total |
2023 |  |  |  |  |  |  |  |
External revenue |  | $ | 5,230,846 |  |  | $ | 72,476 |  |  | $ | 5,303,322 |
Internal revenue |  |  | — |  |  |  | 67,977 |  |  |  | 67,977 |
Total revenue |  |  | 5,230,846 |  |  |  | 140,453 |  |  |  | 5,371,299 |
Investment income |  |  |  |  |  |  | 10,141 |  |  |  | 10,141 |
Purchased transportation |  |  | 4,068,262 |  |  |  |  |  |  |  | 4,068,262 |
Commissions to agents |  |  | 462,668 |  |  |  |  |  |  |  | 462,668 |
Other operating costs, net of gains on asset sales/dispositions |  |  | 54,191 |  |  |  |  |  |  |  | 54,191 |
Insurance and claims |  |  | 101,179 |  |  |  | 81,039 |  |  |  | 182,218 |
Selling, general and administrative |  |  | 197,819 |  |  |  | 13,980 |  |  |  | 211,799 |
Depreciation and amortization |  |  | 58,153 |  |  |  |  |  |  |  | 58,153 |
Operating income |  |  | 288,574 |  |  |  | 55,575 |  |  |  | 344,149 |
Goodwill |  |  | 42,275 |  |  |  |  |  |  |  | 42,275 |
|  | Transportation Logistics |  |  | Insurance |  |  | Total |
2022 |  |  |  |  |  |  |  |
External revenue |  | $ | 7,358,008 |  |  | $ | 78,554 |  |  | $ | 7,436,562 |
Internal revenue |  |  | — |  |  |  | 79,229 |  |  |  | 79,229 |
Total revenue |  |  | 7,358,008 |  |  |  | 157,783 |  |  |  | 7,515,791 |
Investment income |  |  |  |  |  |  | 3,162 |  |  |  | 3,162 |
Purchased transportation |  |  | 5,804,017 |  |  |  |  |  |  |  | 5,804,017 |
Commissions to agents |  |  | 614,865 |  |  |  |  |  |  |  | 614,865 |
Other operating costs, net of gains on asset sales/dispositions |  |  | 45,192 |  |  |  |  |  |  |  | 45,192 |
Insurance and claims |  |  | 105,477 |  |  |  | 99,587 |  |  |  | 205,064 |
Selling, general and administrative |  |  | 206,504 |  |  |  | 14,775 |  |  |  | 221,279 |
Depreciation and amortization |  |  | 57,453 |  |  |  |  |  |  |  | 57,453 |
Operating income |  |  | 524,500 |  |  |  | 46,583 |  |  |  | 571,083 |
Goodwill |  |  | 41,220 |  |  |  |  |  |  |  | 41,220 |
|  | Fiscal Years Ended |
|  | December 28, 2024 |  |  | December 30, 2023 |  |  | December 31, 2022 |
Total revenue |  | $ | 4,876,721 |  |  | $ | 5,371,299 |  |  | $ | 7,515,791 |
Elimination of internal revenue |  |  | (57,476 | ) |  |  | (67,977 | ) |  |  | (79,229 | )
Total consolidated revenue |  |  | 4,819,245 |  |  |  | 5,303,322 |  |  |  | 7,436,562 |
Operating income |  | $ | 248,907 |  |  | $ | 344,149 |  |  | $ | 571,083 |
Interest and debt (income) expense (1) |  |  | (5,419 | ) |  |  | (3,946 | ) |  |  | 3,620 |
Income before income taxes |  |  | 254,326 |  |  |  | 348,095 |  |  |  | 567,463 |
(1) | Interest and debt (income) expense includes (1) interest income earned on cash balances held by the transportation logistics segment of $9,495, $7,811 an d $900 in 2024, 2023 and 2022, respectively an d (2) consolidated total interest expense of $ 4,076, $3,865 and $4,520 (1) in 2024, 2023 an d 2022, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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