| Net Income Per Share |
The following table sets forth the computation of basic and diluted net income per share:
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Three months ended |
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Nine months ended |
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September 30,
2020 |
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September 30,
2019 |
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September 30,
2020 |
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September 30,
2019 |
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| Numerator: |
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| Net income and comprehensive income from continuing operations |
$ |
16,992 |
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$ |
21,054 |
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$ |
37,634 |
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$ |
59,987 |
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| Net (loss) income and comprehensive (loss) income from discontinued operations |
(345) |
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1,141 |
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(9,458) |
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2,945 |
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| Net income attributable to Forward Air shareholders |
$ |
16,647 |
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$ |
22,195 |
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$ |
28,176 |
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$ |
62,932 |
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| Income allocated to participating securities |
(150) |
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(236) |
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(184) |
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(696) |
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| Numerator for basic and diluted net income per share for continuing operations |
$ |
16,842 |
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$ |
20,818 |
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$ |
37,450 |
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$ |
59,291 |
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| Numerator for basic and diluted net (loss) income per share for discontinued operations |
$ |
(345) |
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$ |
1,141 |
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$ |
(9,458) |
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$ |
2,945 |
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| Denominator: |
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| Denominator for basic income per share - weighted-average shares |
27,559 |
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27,981 |
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27,732 |
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28,286 |
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| Effect of dilutive stock options |
32 |
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74 |
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34 |
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76 |
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| Effect of dilutive performance shares |
15 |
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27 |
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23 |
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31 |
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| Denominator for diluted income per share - adjusted weighted-average shares |
27,606 |
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28,082 |
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27,789 |
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28,393 |
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| Basic net income (loss) per share: |
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| Continuing operations |
$ |
0.61 |
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$ |
0.74 |
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$ |
1.35 |
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$ |
2.10 |
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| Discontinued operations |
(0.01) |
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0.04 |
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(0.34) |
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0.10 |
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| Net income per share |
$ |
0.60 |
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$ |
0.78 |
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$ |
1.01 |
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$ |
2.20 |
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| Diluted net income (loss) per share: |
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| Continuing operations |
$ |
0.61 |
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$ |
0.74 |
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$ |
1.35 |
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$ |
2.09 |
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| Discontinued operations |
(0.01) |
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0.04 |
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(0.34) |
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0.10 |
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| Net income per share |
$ |
0.60 |
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$ |
0.78 |
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$ |
1.01 |
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$ |
2.19 |
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The number of instruments that could potentially dilute net income per basic share in the future, but that were not included in the computation of net income per diluted share because to do so would have been anti-dilutive for the periods presented, are as follows:
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September 30,
2020 |
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September 30,
2019 |
| Anti-dilutive stock options |
219 |
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188 |
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| Anti-dilutive performance shares |
31 |
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— |
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| Anti-dilutive non-vested shares and deferred stock units |
100 |
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— |
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| Total anti-dilutive shares |
350 |
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188 |
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