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Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Net Income Per Share

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

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 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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- References

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- 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
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- 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
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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