v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 95,128 $ 104,903
Restricted cash and restricted cash equivalents 179 363
Accounts receivable, less allowance of $3,247 in 2025 and $3,269 in 2024 335,716 322,291
Prepaid expenses 33,182 29,053
Other current assets 10,402 15,890
Total current assets 474,607 472,500
Property and equipment, net of accumulated depreciation and amortization of $305,267 in 2025 and $292,855 in 2024 321,329 326,188
Operating lease right-of-use assets 419,531 410,084
Goodwill 522,712 522,712
Other acquired intangibles, net of accumulated amortization of $259,154 in 2025 and $212,905 in 2024 952,967 999,216
Other long term assets 70,089 71,941
Total assets 2,761,235 2,802,641
Current liabilities:    
Accounts payable 115,123 105,692
Accrued expenses 115,605 119,836
Other current liabilities 48,072 45,148
Current portion of debt and finance lease obligations 16,877 16,930
Current portion of operating lease liabilities 101,008 96,440
Total current liabilities 396,685 384,046
Finance lease obligations, less current portion 29,191 30,858
Long-term debt, less current portion 1,681,468 1,675,930
Liabilities under tax receivable agreement 20,158 13,295
Operating lease liabilities, less current portion 334,318 325,640
Other long-term liabilities 49,725 48,835
Deferred income taxes 33,449 38,169
Shareholders' equity:    
Preferred stock, value 0 0
Common stock, $0.01 par value: Authorized shares - 50,699,707; issued and outstanding shares - 30,606,895 in 2025 and 29,761,197 in 2024 306 298
Additional paid-in capital 551,845 542,392
Accumulated deficit (402,451) (338,230)
Accumulated other comprehensive (loss) income 2,094 (2,732)
Total Forward Air shareholders' equity 151,794 201,728
Noncontrolling interest 64,447 84,140
Total shareholders' equity 216,241 285,868
Total liabilities and shareholders' equity 2,761,235 2,802,641
Preferred Class B    
Shareholders' equity:    
Preferred stock, value $ 0 $ 0

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