| Net Income Per Share |
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 and six months ended June 30, 2021 and 2020 is as follows:
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Three Months Ended |
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Six Months Ended |
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June 30,
2021 |
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June 30,
2020 |
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June 30,
2021 |
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June 30,
2020 |
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| Numerator: |
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| Net income and comprehensive income from continuing operations |
$ |
30,677 |
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$ |
9,225 |
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$ |
47,391 |
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$ |
20,641 |
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| Net loss and comprehensive loss from discontinued operation |
— |
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(6,071) |
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(5,533) |
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(9,112) |
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| Net income attributable to Forward Air |
$ |
30,677 |
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$ |
3,154 |
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$ |
41,858 |
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$ |
11,529 |
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| Income allocated to participating securities |
(256) |
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(13) |
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(363) |
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(83) |
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| Numerator for basic and diluted net income per share for continuing operations |
$ |
30,421 |
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$ |
9,212 |
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$ |
47,028 |
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$ |
20,558 |
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| Numerator for basic and diluted net loss per share for discontinued operation |
$ |
— |
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$ |
(6,071) |
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$ |
(5,533) |
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$ |
(9,112) |
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| Denominator: |
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| Denominator for basic net income per share - weighted-average number of common shares outstanding |
27,261 |
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27,695 |
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27,309 |
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28,424 |
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| Dilutive stock options and performance share awards |
154 |
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31 |
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145 |
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|
67 |
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| Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding |
27,415 |
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27,726 |
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27,454 |
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28,491 |
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| Basic net income (loss) per share: |
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| Continuing operations |
$ |
1.12 |
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$ |
0.33 |
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$ |
1.72 |
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$ |
0.72 |
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| Discontinued operation |
— |
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(0.22) |
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(0.20) |
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(0.31) |
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| Net income per basic share |
$ |
1.12 |
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$ |
0.11 |
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$ |
1.52 |
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$ |
0.41 |
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| Diluted net income (loss) per share: |
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| Continuing operations |
$ |
1.11 |
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$ |
0.33 |
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$ |
1.71 |
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$ |
0.72 |
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| Discontinued operation |
— |
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(0.22) |
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(0.20) |
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(0.32) |
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| Net income per diluted share |
$ |
1.11 |
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$ |
0.11 |
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$ |
1.51 |
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$ |
0.40 |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The number of shares that were not included in the calculation of net income per diluted share because to do so would have been anti-dilutive for the three and six months ended June 30, 2021 and 2020 are as follows:
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Three Months Ended |
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Six Months Ended |
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June 30,
2021 |
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June 30,
2020 |
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June 30,
2021 |
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June 30,
2020 |
| Anti-dilutive stock options |
— |
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268 |
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39 |
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218 |
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| Anti-dilutive performance shares |
— |
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18 |
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— |
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29 |
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| Anti-dilutive restricted shares and deferred stock units |
— |
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177 |
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15 |
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95 |
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| Total anti-dilutive shares |
— |
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463 |
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54 |
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342 |
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