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A reconciliation of net income attributable to Forward Air and weighted-average common shares outstanding for purposes of calculating basic and diluted net income per share during the three months ended March 31, 2021 and 2020 is as follows:
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Three Months Ended |
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March 31,
2021 |
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March 31,
2020 |
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| Numerator: |
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| Net income and comprehensive income from continuing operations |
$ |
16,714 |
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$ |
11,415 |
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| Net loss and comprehensive loss from discontinued operation |
(5,533) |
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(3,040) |
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| Net income attributable to Forward Air |
$ |
11,181 |
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$ |
8,375 |
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| Income allocated to participating securities |
(101) |
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(67) |
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| Numerator for basic and diluted net income per share for continuing operations |
$ |
16,613 |
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$ |
11,348 |
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| Numerator for basic and diluted net loss per share for discontinued operation |
$ |
(5,533) |
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$ |
(3,040) |
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| Denominator: |
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| Denominator for basic net income per share - weighted-average number of common shares outstanding |
27,361 |
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27,846 |
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| Dilutive stock options and performance share awards |
136 |
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102 |
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| Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding |
27,497 |
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27,948 |
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| Basic net income (loss) per share: |
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| Continuing operations |
$ |
0.61 |
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$ |
0.41 |
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| Discontinued operation |
(0.20) |
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(0.11) |
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Net income per share1
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$ |
0.40 |
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$ |
0.30 |
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| Diluted net income (loss) per share: |
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| Continuing operations |
$ |
0.60 |
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$ |
0.41 |
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| Discontinued operation |
(0.20) |
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(0.11) |
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| Net income per share |
$ |
0.40 |
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$ |
0.30 |
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1 Rounding may impact summation of amounts.
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