LANDSTAR SYSTEM, INC.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $177.1M | $137.4M | $147.7M | $138.8M | $146.0M | $129.8M | $113.0M | $87.5M |
| Depreciation & Amortization | $40.6M | $35.8M | $29.1M | $27.6M | $27.7M | $25.2M | $23.9M | $24.8M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $7.7M | $2.7M | $6.9M | $6.8M | $4.9M | $6.1M | $5.0M | $4.8M |
| Net Cash from Operating Activities | $139.0M | $190.2M | $216.0M | $101.9M | $152.6M | $125.6M | $118.0M | $108.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $15.6M | $22.6M | $4.8M | $10.5M | $6.4M | $5.4M | $3.6M | $27.5M |
| Business Acquisitions | $8.5M | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-22.1M | $-14.2M | — | — | — | $-21.2M | $8.8M | $-50.7M |
| Financing Activities | ||||||||
| Dividends Paid | $15.9M | $14.3M | $57.9M | $27.6M | — | $34.0M | $10.0M | $9.4M |
| Stock Repurchases | $0 | $50.5M | $161.2M | $56.4M | $59.5M | $25.8M | $50.5M | $102.7M |
| Net Cash from Financing Activities | $-54.4M | $-112.1M | — | — | — | $-111.2M | $-90.5M | $-99.2M |
| Net Change in Cash | $63.5M | $64.4M | $-49.4M | $-16.4M | $106.0M | $-6.6M | $36.2M | $-41.0M |
| Free Cash Flow | $123.4M | $167.6M | $211.2M | $91.3M | $146.3M | $120.2M | $114.4M | $81.3M |