Forward Air Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- Description of Business and Basis of Presentation (Policies)
Notes Tables
Notes Details

Indebtedness - Narrative (Details)

v3.23.1

Indebtedness - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended
Indebtedness - Narrative (Details) - USD ($)	Dec. 31, 2021	Sep. 30, 2017	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Apr. 30, 2020
Debt Instrument [Line Items]
Proceeds from credit facility			$ 45,000,000	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Term		5 years
Credit facility amount	$ 525,000	$ 150,000				$ 250,000
Aggregate principal amount	450,000					225,000,000
Additional borrowing capacity of credit facility	75,000					$ 25,000,000
Borrowings outstanding	300,000
Repayments of debt	$ 150,000
Available borrowing capacity			$ 234,966,000		$ 279,966,000
Bloomberg short-term bank yield index rate floor	0.00%
Base rate floor	2.00%
Federal funds rate floor	0.00%
Bloomberg short-term bank yield index additional rate	1.00%
Interest rate at period end			5.96%	1.44%
Revolving Credit Facility \| Medium-term Notes
Debt Instrument [Line Items]
Borrowings outstanding	$ 150,000
Proceeds from credit facility	$ 150,000
Revolving Credit Facility \| Bloomberg Short-Term Bank Yield Index \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility \| Bloomberg Short-Term Bank Yield Index \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Revolving Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility \| Prime Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Revolving Credit Facility \| Prime Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Letter of Credit
Debt Instrument [Line Items]
Credit facility amount		30,000
Outstanding amount			$ 20,034,000		$ 20,034,000
Swing Line Loan
Debt Instrument [Line Items]
Credit facility amount		$ 30,000

- Definition

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- Definition

Additional optional borrowing capacity under the credit facility.

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- Definition

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No definition available.

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The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

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The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer.

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