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Segment Reporting | 3 Months Ended
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Mar. 31, 2020
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 ("CODM"). This classification is consistent with how the CODM makes decisions about resource allocation and assesses the Company's performance. The Company evaluates the performance of its segments based on income from operations. The Company’s business is conducted in the U.S. and Canada. Expedited Freight operates a comprehensive national network to provide expedited regional, inter-regional and national LTL services and offers customers local pick-up and delivery and other services including final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage and other handling. Included within the $251,158 of Expedited Freight revenue for the three months ended March 31, 2020 were defined services including Network revenue of $152,010, Truckload revenue of $45,058, Final Mile revenue of $47,802 and other revenue of $6,288. Intermodal primarily provides first- and last-mile high value intermodal container drayage services both to and from seaports and railheads. Pool Distribution provides high-frequency handling and distribution of time sensitive product to numerous destinations. Except for certain insurance activity, the accounting policies of the segments are the same as those described in the summary of significant accounting policies disclosed in Note 1 of the Forward Air Corporation Annual Report on Form 10-K for the year ended December 31, 2019. For workers compensation and vehicle claims, each segment is charged an insurance premium and is also charged a deductible that corresponds with each segment's individual self-retention limit. However, any losses beyond these deductibles and any loss development factors applied to outstanding claims as a result of actuary analysis are not passed to the segments, but recorded at the corporate level ("Eliminations & other"). Segment data includes intersegment revenues and shared costs. Costs of the corporate headquarters, shared services and shared assets, such as trailers, are allocated to the segments based on usage. The cost basis of shared assets are not allocated. Instead, the cost basis for the majority of shared assets, such as trailers, are included in Expedited Freight. The following tables summarize segment information for the three months ended March 31, 2020 and 2019.
|  | Three months ended March 31, 2020
|  | Expedited Freight |  | Intermodal |  | Pool Distribution |  | Eliminations & other |  | Consolidated
External revenues |  | $ | 250,673 |  |  | $ | 52,455 |  |  | $ | 39,382 |  |  | $ | (1 | ) |  | $ | 342,509 |
Intersegment revenues |  | 485 |  |  | 5 |  |  | 42 |  |  | (532 | ) |  | — |
Depreciation |  | 4,858 |  |  | 1,053 |  |  | 1,097 |  |  | 8 |  |  | 7,016 |
Amortization |  | 1,788 |  |  | 1,568 |  |  | 257 |  |  | — |  |  | 3,613 |
Share-based compensation expense |  | 2,667 |  |  | 389 |  |  | 188 |  |  | 22 |  |  | 3,266 |
Interest expense |  | 3 |  |  | 54 |  |  | — |  |  | 796 |  |  | 853 |
Income (loss) from operations |  | 14,698 |  |  | 3,713 |  |  | (3,562 | ) |  | (3,147 | ) |  | 11,702 |
Total assets |  | 773,917 |  |  | 213,060 |  |  | 98,254 |  |  | (18,995 | ) |  | 1,066,236 |
Capital expenditures |  | 2,405 |  |  | 246 |  |  | 521 |  |  | — |  |  | 3,172 |
|  | Three months ended March 31, 2019 (As Adjusted)
|  | Expedited Freight |  | Intermodal |  | Pool Distribution |  | Eliminations & other |  | Consolidated
External revenues |  | $ | 222,278 |  |  | $ | 54,097 |  |  | $ | 45,096 |  |  | $ | — |  |  | $ | 321,471 |
Intersegment revenues |  | 705 |  |  | 18 |  |  | 89 |  |  | (812 | ) |  | — |
Depreciation |  | 6,532 |  |  | 469 |  |  | 1,315 |  |  | — |  |  | 8,316 |
Amortization |  | 847 |  |  | 1,407 |  |  | 257 |  |  | — |  |  | 2,511 |
Share-based compensation expense |  | 2,169 |  |  | 531 |  |  | 182 |  |  | 165 |  |  | 3,047 |
Interest expense |  | 1 |  |  | 13 |  |  | — |  |  | 561 |  |  | 575 |
Income (loss) from operations |  | 20,388 |  |  | 6,181 |  |  | 1,251 |  |  | (3,086 | ) |  | 24,734 |
Total assets |  | 641,525 |  |  | 182,489 |  |  | 102,678 |  |  | (41,115 | ) |  | 885,577 |
Capital expenditures |  | 2,237 |  |  | 73 |  |  | 1,780 |  |  | — |  |  | 4,090 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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