v3.22.2.2
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Operating revenues $ 510,023 $ 419,625 $ 1,492,203 $ 1,202,498
Operating expenses:        
Purchased transportation 229,326 205,474 693,648 605,299
Salaries, wages and employee benefits 90,755 84,410 263,194 243,948
Operating leases 24,965 20,536 71,097 60,073
Depreciation and amortization 12,269 9,416 34,994 28,067
Insurance and claims 12,093 9,984 37,257 30,616
Fuel expense 6,772 4,457 20,951 12,218
Other operating expenses 62,178 42,872 166,501 114,953
Total operating expenses 438,358 377,149 1,287,642 1,095,174
Income from continuing operations 71,665 42,476 204,561 107,324
Other expense:        
Interest expense (1,544) (973) (3,521) (3,461)
Total other expense (1,544) (973) (3,521) (3,461)
Income before income taxes 70,121 41,503 201,040 103,863
Income tax expense 17,988 11,000 50,791 25,969
Net income from continuing operations 52,133 30,503 150,249 77,894
Loss from discontinued operation, net of tax 0 (6,967) 0 (12,500)
Net income attributable to Forward Air 52,133 23,536 $ 150,249 $ 65,394
Comprehensive income $ 52,133 $ 23,536    
Basic net income (loss) per share:        
Continuing operations (in dollars per share) $ 1.94 $ 1.12 $ 5.56 $ 2.84
Discontinued operation (in dollars per share) 0 (0.26) 0 (0.46)
Net income per basic share (in dollars per share) 1.94 0.86 5.56 [1] 2.39 [1]
Diluted net income (loss) per share:        
Continuing operations (in dollars per share) 1.93 1.12 5.53 2.83
Discontinued operation (in dollars per share) 0 (0.26) 0 (0.46)
Net income per diluted share (in dollars per share) 1.93 0.86 5.53 2.37
Dividends per share (in dollars per share) $ 0.24 $ 0.21 $ 0.72 $ 0.63
[1] Rounding may impact summation of amounts.

Source