|
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|
| Forward Air | ||||
| Airport-to-airport | $ 96,914 | $ 92,966 | $ 290,006 | $ 266,606 |
| Logistics | 20,878 | 18,409 | 63,315 | 52,909 |
| Other | 6,528 | 7,250 | 19,498 | 20,524 |
| Forward Air Solutions | ||||
| Pool distribution | 19,194 | 17,124 | 56,102 | 48,104 |
| Total operating revenue | 143,514 | 135,749 | 428,921 | 388,143 |
| Forward Air | ||||
| Airport-to-airport | 40,150 | 36,142 | 119,546 | 104,411 |
| Logistics | 15,954 | 14,041 | 47,756 | 40,214 |
| Other | 1,822 | 1,797 | 5,252 | 4,929 |
| Forward Air Solutions | ||||
| Pool distribution | 5,176 | 4,109 | 14,989 | 11,067 |
| Total purchased transportation | 63,102 | 56,089 | 187,543 | 160,621 |
| Salaries, wages and employee benefits | 31,698 | 33,402 | 97,408 | 95,336 |
| Operating leases | 6,895 | 6,672 | 20,826 | 20,083 |
| Depreciation and amortization | 5,425 | 5,429 | 15,940 | 15,734 |
| Insurance and claims | 3,098 | 2,120 | 8,132 | 6,140 |
| Fuel expense | 2,318 | 2,406 | 7,271 | 7,357 |
| Other operating expenses | 11,352 | 9,311 | 32,303 | 29,390 |
| Total operating expenses | 123,888 | 115,429 | 369,423 | 334,661 |
| Income from operations | 19,626 | 20,320 | 59,498 | 53,482 |
| Other income (expense): | ||||
| Interest expense | (111) | (131) | (241) | (468) |
| Other, net | (21) | 10 | (6) | 57 |
| Total other expense | (132) | (121) | (247) | (411) |
| Income before income taxes | 19,494 | 20,199 | 59,251 | 53,071 |
| Income taxes | 7,227 | 7,287 | 22,544 | 20,321 |
| Net income and comprehensive income | $ 12,267 | $ 12,912 | $ 36,707 | $ 32,750 |
| Net income per share: | ||||
| Basic (in dollars per share) | $ 0.42 | $ 0.44 | $ 1.27 | $ 1.12 |
| Diluted (in dollars per share) | $ 0.41 | $ 0.44 | $ 1.24 | $ 1.11 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 29,088 | 29,237 | 28,895 | 29,236 |
| Diluted (in shares) | 29,660 | 29,552 | 29,484 | 29,591 |
| Dividends per share (in dollars per share) | $ 0.10 | $ 0.07 | $ 0.24 | $ 0.21 |
| X | ||||||||||
|
- Definition
Expenses related to airport-to-airport service which offers customers local pick-up and delivery and scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues related to airport-to-airport service which offers customers local pick-up and delivery and scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Expenses from logistics services that provides expedited truckload brokerage and dedicated fleet services. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue from logistics services that provides expedited truckload brokerage and dedicated fleet services. No definition available.
|
| X | ||||||||||
|
- Definition
Other purchased transportation expenses recorded during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Expenses from pool distribution which involves managing high-frequency handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue from pool distribution which involves managing high-frequency handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fuel costs incurred that are directly related to goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Insurance and claims costs directly related to goods produced and sold, or services rendered, during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|