Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share (Tables)

v3.23.2
Net Income Per Share (Tables)
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Schedule of 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, 2023 and 2022 is as follows:
  Three Months Ended Six Months Ended
June 30,
2023		 June 30,
2022		 June 30,
2023		 June 30,
2022
Numerator:    
Net income attributable to Forward Air $ 19,951  $ 55,430  $ 56,319  $ 98,116 
Income allocated to participating securities (121) (346) (296) (541)
Numerator for basic and diluted net income per share $ 19,830  $ 55,084  $ 56,023  $ 97,575 
Denominator:    
Denominator for basic net income per share - weighted-average number of common shares outstanding 25,935  26,869  26,144  26,911 
Dilutive stock options and performance share awards 100  120  114  136 
Denominator for diluted net income per share - weighted-average number of common shares and common share equivalents outstanding 26,035  26,989  26,258  27,047 
Net income per share:
Basic $ 0.76  $ 2.05  $ 2.14  $ 3.63 
Diluted $ 0.76  $ 2.04  $ 2.13  $ 3.61 
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, 2023 and 2022 are as follows:
Three Months Ended Six Months Ended
June 30,
2023		 June 30,
2022		 June 30,
2023		 June 30,
2022
Anti-dilutive stock options 112  57  101  57 
Anti-dilutive performance shares 18  13  14  13 
Anti-dilutive restricted shares and deferred stock units 73  —  58  — 
Total anti-dilutive shares 203  70  173  70