XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.2

Net Income (Loss) Per Share | 6 Months Ended
--- | ---
Jun. 30, 2022
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per ShareBasic net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during each period. Restricted shares have non-forfeitable rights to dividends and as a result, are considered participating securities for purposes of computing net income (loss) per common share pursuant to the two-class method. Diluted net income (loss) per common share assumes the exercise of outstanding stock options and the vesting of performance share awards using the treasury stock method when the effects of such assumptions are dilutive. A reconciliation of net income (loss) attributable to Forward Air and weighted-average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share during the three and six months ended June 30, 2022 and 2021 is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Numerator: |  |  |  |  |  |  |
Net income and comprehensive income from continuing operations | $ | 55,430 |  |  | $ | 30,677 |  |  | $ | 98,116 |  |  | $ | 47,391 |
Net loss and comprehensive loss from discontinued operation | — |  |  | — |  |  | — |  |  | (5,533) |
Net income attributable to Forward Air | $ | 55,430 |  |  | $ | 30,677 |  |  | $ | 98,116 |  |  | $ | 41,858 |
Income allocated to participating securities from continuing operations | (346) |  |  | (256) |  |  | (541) |  |  | (363) |
Loss allocated to participating securities from discontinued operation | — |  |  | — |  |  | — |  |  | — |
Income allocated to participating securities | (346) |  |  | (256) |  |  | (541) |  |  | (363) |
Numerator for basic and diluted net income per share for continuing operations | $ | 55,084 |  |  | $ | 30,421 |  |  | $ | 97,575 |  |  | $ | 47,028 |
Numerator for basic and diluted net loss per share for discontinued operation | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5,533) |
Denominator: |  |  |  |  |  |  |
Denominator for basic net income per share - weighted-average number of common shares outstanding | 26,869 |  |  | 27,261 |  |  | 26,911 |  |  | 27,309 |
Dilutive stock options and performance share awards | 120 |  |  | 154 |  |  | 136 |  |  | 145 |
Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding | 26,989 |  |  | 27,415 |  |  | 27,047 |  |  | 27,454 |
Basic net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 2.05 |  |  | $ | 1.12 |  |  | $ | 3.63 |  |  | $ | 1.72 |
Discontinued operation | — |  |  | — |  |  | — |  |  | (0.20) |
Net income per basic share | $ | 2.05 |  |  | $ | 1.12 |  |  | $ | 3.63 |  |  | $ | 1.52 |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 2.04 |  |  | $ | 1.11 |  |  | $ | 3.61 |  |  | $ | 1.71 |
Discontinued operation | — |  |  | — |  |  | — |  |  | (0.20) |
Net income per diluted share | $ | 2.04 |  |  | $ | 1.11 |  |  | $ | 3.61 |  |  | $ | 1.51 |
The number of shares that were not included in the calculation of net income (loss) per diluted share because to do so would have been anti-dilutive for the three and six months ended June 30, 2022 and 2021 are as follows:
| Three Months Ended |  | Six Months Ended
| June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Anti-dilutive stock options | 57 |  |  | — |  |  | 57 |  |  | 39 |
Anti-dilutive performance shares | 13 |  |  | — |  |  | 13 |  |  | — |
Anti-dilutive restricted shares and deferred stock units | — |  |  | — |  |  | — |  |  | 15 |
Total anti-dilutive shares | 70 |  |  | — |  |  | 70 |  |  | 54 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration