Quarterly report pursuant to Section 13 or 15(d)

Net (Loss) Income Per Share (Tables)

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Net (Loss) Income Per Share (Tables)
6 Months Ended
Jun. 30, 2024
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, 2024 and 2023 is as follows:
  Three Months Ended Six Months Ended
June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023
Numerator:    
Net (loss) income from continuing operations $ (640,557) $ 17,127  $ (702,269) $ 51,031 
Net (loss) income from discontinued operation (4,876) 2,824  (4,876) 5,288 
Net (loss) income attributable to Forward Air (645,433) 19,951  (707,145) 56,319 
Dividends allocated to Opco C-2 Preferred Units —  —  — 
Income allocated to participating securities from continuing operations —  (104) —  (268)
Income allocated to participating securities from discontinued operation —  (17) —  (28)
Income allocated to participating securities —  (121) —  (296)
Numerator for basic and diluted net (loss) income per share for continuing operations $ (624,201) $ 17,023  $ (729,919) $ 50,763 
Numerator for basic and diluted net income per share for discontinued operation $ (4,876) $ 2,807  $ (4,876) $ 5,260 
Denominator:    
Denominator for basic net (loss) income per share - weighted-average number of common shares outstanding 26,803  25,935  26,513  26,144 
Dilutive stock options and performance share awards —  100  —  114 
Denominator for diluted net (loss) income per share - weighted-average number of common shares and common share equivalents outstanding 26,803  26,035  26,513  26,258 
Basic net (loss) income per share attributable to Forward Air:
     Continuing operations $ (23.29) $ 0.65  $ (27.53) $ 1.94 
     Discontinued operation (0.18) 0.11  (0.18) 0.20 
Net (loss) income per basic share $ (23.47) $ 0.76  $ (27.71) $ 2.14 
Diluted net (loss) income per share attributable to Forward Air:
     Continuing operations $ (23.29) $ 0.65  $ (27.53) $ 1.93 
     Discontinued operation (0.18) 0.11  (0.18) 0.20 
Net (loss) income per diluted share1
$ (23.47) $ 0.76  $ (27.71) $ 2.13 

1Rounding may impact summation of amounts.
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, 2024 and 2023 are as follows:
Three Months Ended Six Months Ended
June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023
Anti-dilutive stock options 285  112  285  101 
Anti-dilutive performance shares 89  18  13  14 
Anti-dilutive restricted shares and deferred stock units 428  73  168  58 
Total anti-dilutive shares 802  203  466  173