Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 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 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

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 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