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

Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operation

Discontinued Operation

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

As previously disclosed, in December 2023, the Company made a decision to divest of the Final Mile business and the sale was completed on December 20, 2023. As a result, the results of operations of Final Mile, have been presented under the caption “Income from discontinued operations, net of tax” in the Consolidated Statement of Operations for the three months ended March 31, 2023.

Summarized Discontinued Operation Financial Information

A summary of the results of operations classified as a discontinued operation, net of tax, in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2023 is as follows:


	Three Months Ended
	March 31, 2023
Operating revenue	$	69,357

Operating expenses:
Purchased transportation	40,046
Salaries, wages and employee benefits	12,873
Operating leases	3,175
Depreciation and amortization	1,263
Insurance and claims	524
Fuel expense	98
Other operating expenses	8,065

Total operating expenses	66,044
Income from discontinued operation before income taxes	3,313
Income tax expense	849
Income from discontinued operation, net of tax	$	2,464