v3.20.2
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenue $ 331,997 $ 313,683 $ 919,232 $ 895,531
Operating expenses:        
Purchased transportation 173,054 150,296 465,721 426,283
Salaries, wages and employee benefits 66,927 68,532 200,258 192,330
Operating leases 17,327 15,860 52,598 46,861
Depreciation and amortization 9,172 9,016 27,919 27,531
Insurance and claims 8,671 9,532 26,437 29,276
Fuel expense 2,715 4,637 9,247 13,219
Other operating expenses 30,621 26,624 83,854 78,071
Total operating expenses 308,487 284,497 866,034 813,571
Income from continuing operations 23,510 29,186 53,198 81,960
Other expense:        
Interest expense (1,304) (761) (3,355) (1,917)
Other, net 0 1 0 (1)
Total other expense (1,304) (760) (3,355) (1,918)
Income before income taxes 22,206 28,426 49,843 80,042
Income tax expense 5,214 7,372 12,209 20,055
Net income from continuing operations 16,992 21,054 37,634 59,987
(Loss) income from discontinued operations, net of tax (345) 1,141 (9,458) 2,945
Net income attributable to Forward Air shareholders $ 16,647 $ 22,195 $ 28,176 $ 62,932
Basic net income (loss) per share:        
Continuing operations (in dollars per share) $ 0.61 $ 0.74 $ 1.35 $ 2.10
Discontinued operations (in dollars per share) (0.01) 0.04 (0.34) 0.10
Net income per share (in dollars per share) 0.60 0.78 1.01 2.20
Diluted net income (loss) per share:        
Continuing operations (in dollars per share) 0.61 0.74 1.35 2.09
Discontinued operations (in dollars per share) (0.01) 0.04 (0.34) 0.10
Net income per share (in dollars per share) 0.60 0.78 1.01 2.19
Dividends per share:        
Dividends per share (in dollars per share) $ 0.18 $ 0.18 $ 0.54 $ 0.54

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