Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 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 months ended March 31, 2023 and 2022 is as follows:

	Three Months Ended
	March 31, 2023		March 31, 2022
Numerator:
Net income attributable to Forward Air	$	36,368	$	42,686
Income allocated to participating securities	(185)		(248)
Numerator for basic and diluted net income per share	$	36,183	$	42,438
Denominator:
Denominator for basic net income per share - weighted-average number of common shares outstanding	26,350		26,947
Dilutive stock options and performance share awards	129		153
Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding	26,479		27,100
Net income per share:
Basic	$	1.37	$	1.57
Diluted	$	1.37	$	1.57

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 months ended March 31, 2023 and 2022 are as follows:

	Three Months Ended
	March 31, 2023	March 31, 2022
Anti-dilutive stock options	112	64
Anti-dilutive performance shares	18	14
Anti-dilutive restricted shares and deferred stock units	74	—
Total anti-dilutive shares	204	78