XML 45 R16.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Segment Reporting | 6 Months Ended
--- | ---
Jun. 30, 2014
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company operates in three reportable segments based on information available to and used by the chief operating decision maker. Forward Air provides time-definite transportation and logistics services to the deferred air freight market. FASI provides pool distribution services primarily to regional and national distributors and retailers. TQI is a provider of high security and temperature-controlled logistics services, primarily truckload services, to the pharmaceutical and life science industries. The assets, liabilities, and operating results of our most recent acquisition, CST, have been assigned to the Forward Air reportable segment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies disclosed in Note 1 to the Consolidated Financial Statements included in the Company’s 2013 Annual Report on Form 10-K. Segment data includes intersegment revenues. Assets and costs of the corporate headquarters are allocated to the segments based on usage. The Company evaluates the performance of its segments based on net income (loss). The Company’s business is conducted in the U.S. and Canada. The following tables summarize segment information about net income (loss) and assets used by the chief operating decision maker of the Company in making decisions regarding allocation of assets and resources as of and for the three and six months ended June 30, 2014 and 2013.
|  | Three months ended June 30, 2014
|  | Forward Air |  | FASI |  | TQI |  | Eliminations |  | Consolidated
External revenues |  | $ | 153,457 |  |  | $ | 26,798 |  |  | $ | 13,597 |  |  | $ | — |  |  | $ | 193,852 |
Intersegment revenues |  | 810 |  |  | 137 |  |  | 84 |  |  | (1,031 | ) |  | — |
Depreciation and amortization |  | 5,365 |  |  | 1,449 |  |  | 937 |  |  | — |  |  | 7,751 |
Share-based compensation expense |  | 1,613 |  |  | 43 |  |  | 21 |  |  | — |  |  | 1,677 |
Interest expense |  | 129 |  |  | 1 |  |  | (29 | ) |  | — |  |  | 101 |
Interest income |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income tax expense |  | 9,613 |  |  | 370 |  |  | 445 |  |  | — |  |  | 10,428 |
Net income |  | 15,587 |  |  | 597 |  |  | 994 |  |  | — |  |  | 17,178 |
Total assets |  | 601,430 |  |  | 41,154 |  |  | 88,286 |  |  | (198,381 | ) |  | 532,489 |
Capital expenditures |  | 11,707 |  |  | 874 |  |  | 1,291 |  |  | — |  |  | 13,872 |
|  | Three months ended June 30, 2013
|  | Forward Air |  | FASI |  | TQI |  | Eliminations |  | Consolidated
External revenues |  | $ | 123,485 |  |  | $ | 24,123 |  |  | $ | 12,196 |  |  | $ | — |  |  | $ | 159,804 |
Intersegment revenues |  | 595 |  |  | 177 |  |  | — |  |  | (772 | ) |  | — |
Depreciation and amortization |  | 4,086 |  |  | 1,196 |  |  | 689 |  |  | — |  |  | 5,971 |
Share-based compensation expense |  | 1,471 |  |  | 39 |  |  | 26 |  |  | — |  |  | 1,536 |
Interest expense |  | 126 |  |  | 2 |  |  | — |  |  | — |  |  | 128 |
Interest income |  | 13 |  |  | — |  |  | — |  |  | — |  |  | 13 |
Income tax expense (benefit) |  | 8,331 |  |  | (73 | ) |  | 302 |  |  | — |  |  | 8,560 |
Net income (loss) |  | 13,496 |  |  | (170 | ) |  | 505 |  |  | — |  |  | 13,831 |
Total assets |  | 445,251 |  |  | 38,461 |  |  | 82,838 |  |  | (98,358 | ) |  | 468,192 |
Capital expenditures |  | 10,595 |  |  | 4,097 |  |  | 1,120 |  |  | — |  |  | 15,812 |
|  | Six months ended June 30, 2014
|  | Forward Air |  | FASI |  | TQI |  | Eliminations |  | Consolidated
External revenues |  | $ | 286,849 |  |  | $ | 54,019 |  |  | $ | 24,552 |  |  | $ | — |  |  | $ | 365,420 |
Intersegment revenues |  | 1,604 |  |  | 238 |  |  | 191 |  |  | (2,033 | ) |  | — |
Depreciation and amortization |  | 10,307 |  |  | 2,727 |  |  | 1,730 |  |  | — |  |  | 14,764 |
Share-based compensation expense |  | 3,221 |  |  | 81 |  |  | 27 |  |  | — |  |  | 3,329 |
Interest expense |  | 210 |  |  | 2 |  |  | (29 | ) |  | — |  |  | 183 |
Interest income |  | 7 |  |  | — |  |  | — |  |  | — |  |  | 7 |
Income tax expense |  | 15,397 |  |  | 348 |  |  | 757 |  |  | — |  |  | 16,502 |
Net income |  | 25,186 |  |  | 595 |  |  | 1,598 |  |  | — |  |  | 27,379 |
Total assets |  | 601,430 |  |  | 41,154 |  |  | 88,286 |  |  | (198,381 | ) |  | 532,489 |
Capital expenditures |  | 22,702 |  |  | 4,555 |  |  | 6,163 |  |  | — |  |  | 33,420 |
|  | Six months ended June 30, 2013
|  | Forward Air |  | FASI |  | TQI |  | Eliminations |  | Consolidated
External revenues |  | $ | 239,058 |  |  | $ | 46,193 |  |  | $ | 16,113 |  |  | $ | — |  |  | $ | 301,364 |
Intersegment revenues |  | 1,131 |  |  | 362 |  |  | — |  |  | (1,493 | ) |  | — |
Depreciation and amortization |  | 7,872 |  |  | 2,367 |  |  | 918 |  |  | — |  |  | 11,157 |
Share-based compensation expense |  | 2,983 |  |  | 85 |  |  | 26 |  |  | — |  |  | 3,094 |
Interest expense |  | 251 |  |  | 5 |  |  | — |  |  | — |  |  | 256 |
Interest income |  | 23 |  |  | — |  |  | 1 |  |  | — |  |  | 24 |
Income tax expense (benefit) |  | 13,385 |  |  | (355 | ) |  | 369 |  |  | — |  |  | 13,399 |
Net income (loss) |  | 24,713 |  |  | (661 | ) |  | 633 |  |  | — |  |  | 24,685 |
Total assets |  | 445,251 |  |  | 38,461 |  |  | 82,838 |  |  | (98,358 | ) |  | 468,192 |
Capital expenditures |  | 22,314 |  |  | 4,505 |  |  | 1,175 |  |  | — |  |  | 27,994 |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration