XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Net Income (Loss) Per Share (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Earnings Per Share [Abstract] |
Net Income Per Share | 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 nine months ended September 30, 2022 and 2021 is as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Numerator: |  |  |  |  |  |  |
Net income and comprehensive income from continuing operations | $ | 52,133 |  |  | $ | 30,503 |  |  | $ | 150,249 |  |  | $ | 77,894 |
Net loss and comprehensive loss from discontinued operation | — |  |  | (6,967) |  |  | — |  |  | (12,500) |
Net income attributable to Forward Air | $ | 52,133 |  |  | $ | 23,536 |  |  | $ | 150,249 |  |  | $ | 65,394 |
Income allocated to participating securities from continuing operations | (325) |  |  | (235) |  |  | (838) |  |  | (541) |
Loss allocated to participating securities from discontinued operation | — |  |  | — |  |  | — |  |  | — |
Income allocated to participating securities | (325) |  |  | (235) |  |  | (838) |  |  | (541) |
Numerator for basic and diluted net income per share for continuing operations | $ | 51,808 |  |  | $ | 30,268 |  |  | $ | 149,411 |  |  | $ | 77,353 |
Numerator for basic and diluted net loss per share for discontinued operation | $ | — |  |  | $ | (6,967) |  |  | $ | — |  |  | $ | (12,500) |
Denominator: |  |  |  |  |  |  |
Denominator for basic net income per share - weighted-average number of common shares outstanding | 26,769 |  |  | 27,034 |  |  | 26,864 |  |  | 27,217 |
Dilutive stock options and performance share awards | 133 |  |  | 110 |  |  | 135 |  |  | 134 |
Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding | 26,902 |  |  | 27,144 |  |  | 26,999 |  |  | 27,351 |
Basic net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 1.94 |  |  | $ | 1.12 |  |  | $ | 5.56 |  |  | $ | 2.84 |
Discontinued operation | — |  |  | (0.26) |  |  | — |  |  | (0.46) |
Net income per basic share 1 | $ | 1.94 |  |  | $ | 0.86 |  |  | $ | 5.56 |  |  | $ | 2.39 |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 1.93 |  |  | $ | 1.12 |  |  | $ | 5.53 |  |  | $ | 2.83 |
Discontinued operation | — |  |  | (0.26) |  |  | — |  |  | (0.46) |
Net income per diluted share | $ | 1.93 |  |  | $ | 0.86 |  |  | $ | 5.53 |  |  | $ | 2.37 |
1 Rounding may impact summation of amounts.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | 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 nine months ended September 30, 2022 and 2021 are as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Anti-dilutive stock options | 57 |  |  | 39 |  |  | 49 |  |  | 39 |
Anti-dilutive performance shares | 13 |  |  | — |  |  | 11 |  |  | — |
Anti-dilutive restricted shares and deferred stock units | — |  |  | — |  |  | — |  |  | — |
Total anti-dilutive shares | 70 |  |  | 39 |  |  | 60 |  |  | 39 |

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 Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration