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Net Income Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share Basic net income per common share is computed by dividing net income 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 per common share pursuant to the two-class method. Diluted net income 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 attributable to Forward Air and weighted-average common shares outstanding for purposes of calculating basic and diluted net income per share during the three and nine months ended September 30, 2023 and 2022 is as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022
Numerator: |  |  |  |  |  |  |
Net income attributable to Forward Air | $ | 9,288 |  |  | $ | 52,133 |  |  | $ | 65,607 |  |  | $ | 150,249 |
Income allocated to participating securities | (57) |  |  | (325) |  |  | (357) |  |  | (838) |
Numerator for basic and diluted net income per share | $ | 9,231 |  |  | $ | 51,808 |  |  | $ | 65,250 |  |  | $ | 149,411 |
Denominator: |  |  |  |  |  |  |
Denominator for basic net income per share - weighted-average number of common shares outstanding | 25,697 |  |  | 26,769 |  |  | 25,995 |  |  | 26,864 |
Dilutive stock options and performance share awards | 74 |  |  | 133 |  |  | 101 |  |  | 135 |
Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding | 25,771 |  |  | 26,902 |  |  | 26,096 |  |  | 26,999 |
Net income per share: |  |  |  |  |  |  |
Basic | $ | 0.36 |  |  | $ | 1.94 |  |  | $ | 2.51 |  |  | $ | 5.56 |
Diluted | $ | 0.36 |  |  | $ | 1.93 |  |  | $ | 2.50 |  |  | $ | 5.53 |
The number of shares that were not included in the calculation of net income per diluted share because to do so would have been anti-dilutive for the three and nine months ended September 30, 2023 and 2022 are as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022
Anti-dilutive stock options | 112 |  |  | 57 |  |  | 105 |  |  | 49 |
Anti-dilutive performance shares | 18 |  |  | 13 |  |  | 16 |  |  | 11 |
Anti-dilutive restricted shares and deferred stock units | 72 |  |  | — |  |  | 61 |  |  | — |
Total anti-dilutive shares | 202 |  |  | 70 |  |  | 182 |  |  | 60 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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