v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 136,616 $ 121,969
Restricted cash and restricted cash equivalents 1,540 39,604
Accounts receivable, less allowance of $2,782 in 2024 and $2,206 in 2023 361,003 153,267
Other receivables 1,695 5,408
Prepaid expenses 31,174 25,682
Other current assets 13,053 1,098
Total current assets 545,081 347,028
Noncurrent restricted cash equivalents 0 1,790,500
Property and equipment, net of accumulated depreciation and amortization of $281,636 in 2024 and $250,185 in 2023 324,782 258,095
Operating lease right-of-use assets 355,139 111,552
Goodwill 716,071 278,706
Other acquired intangibles, net of accumulated amortization of $190,369 in 2024 and $127,032 in 2023 1,033,352 134,789
Other assets 81,415 58,863
Total assets 3,055,840 2,979,533
Current liabilities:    
Accounts payable 157,230 45,430
Accrued expenses 135,590 62,948
Other current liabilities 49,571 71,727
Current portion of debt and finance lease obligations 16,741 12,645
Current portion of operating lease liabilities 89,566 44,344
Total current liabilities 448,698 237,094
Finance lease obligations, less current portion 32,731 26,736
Long-term debt, less current portion 1,673,292 0
Long-term debt held in escrow 0 1,790,500
Operating lease liabilities, less current portion 275,843 71,598
Liabilities under tax receivable agreement 36,797 0
Other long-term liabilities 42,423 47,144
Deferred income taxes 209,522 42,200
Shareholders' equity:    
Common stock, $0.01 par value: Authorized shares - 50,000,000; issued and outstanding shares - 28,689,172 in 2024 and 25,670,663 in 2023 287 257
Additional paid-in capital 528,255 283,684
Retained (deficit) earnings (301,634) 480,320
Accumulated other comprehensive loss (824) 0
Total Forward Air shareholders' equity 226,084 764,261
Noncontrolling interest 110,450 0
Total shareholders' equity 336,534 764,261
Total liabilities and shareholders' equity 3,055,840 2,979,533
Preferred Stock    
Shareholders' equity:    
Preferred stock, value 0 0
Preferred Class B    
Shareholders' equity:    
Preferred stock, value $ 0 $ 0

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