| Summary of segment information |
The following tables summarize segment information about net income (loss) and assets used by the chief operating decision maker of the Company in making decisions regarding allocation of assets and resources as of and for the three and nine months ended September 30, 2013 and 2012.
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|
|
|
|
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Three months ended September 30, 2013 |
|
|
Forward Air |
|
FASI |
|
TQI |
|
Eliminations |
|
Consolidated |
External revenues |
|
$ |
127,953 |
|
|
$ |
29,649 |
|
|
$ |
12,431 |
|
|
$ |
— |
|
|
$ |
170,033 |
|
Intersegment revenues |
|
838 |
|
|
179 |
|
|
— |
|
|
(1,017 |
) |
|
— |
|
Depreciation and amortization |
|
4,238 |
|
|
1,254 |
|
|
728 |
|
|
— |
|
|
6,220 |
|
Share-based compensation expense |
|
1,471 |
|
|
28 |
|
|
26 |
|
|
— |
|
|
1,525 |
|
Interest expense |
|
144 |
|
|
1 |
|
|
— |
|
|
— |
|
|
145 |
|
Interest income |
|
6 |
|
|
— |
|
|
— |
|
|
— |
|
|
6 |
|
Income tax expense |
|
7,604 |
|
|
551 |
|
|
387 |
|
|
— |
|
|
8,542 |
|
Net income |
|
12,768 |
|
|
882 |
|
|
547 |
|
|
— |
|
|
14,197 |
|
Total assets |
|
464,538 |
|
|
42,043 |
|
|
84,343 |
|
|
(100,122 |
) |
|
490,802 |
|
Capital expenditures |
|
1,679 |
|
|
1,797 |
|
|
1,796 |
|
|
— |
|
|
5,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, 2012 |
|
|
Forward Air |
|
FASI |
|
TQI |
|
Eliminations |
|
Consolidated |
External revenues |
|
$ |
124,320 |
|
|
$ |
19,194 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
143,514 |
|
Intersegment revenues |
|
186 |
|
|
274 |
|
|
— |
|
|
(460 |
) |
|
— |
|
Depreciation and amortization |
|
4,242 |
|
|
1,183 |
|
|
— |
|
|
— |
|
|
5,425 |
|
Share-based compensation expense |
|
1,412 |
|
|
16 |
|
|
— |
|
|
— |
|
|
1,428 |
|
Interest expense |
|
106 |
|
|
5 |
|
|
— |
|
|
— |
|
|
111 |
|
Interest income |
|
5 |
|
|
— |
|
|
— |
|
|
— |
|
|
5 |
|
Income tax expense |
|
7,133 |
|
|
94 |
|
|
— |
|
|
— |
|
|
7,227 |
|
Net income |
|
12,106 |
|
|
161 |
|
|
— |
|
|
— |
|
|
12,267 |
|
Total assets |
|
386,462 |
|
|
36,279 |
|
|
— |
|
|
(36,123 |
) |
|
386,618 |
|
Capital expenditures |
|
1,343 |
|
|
838 |
|
|
— |
|
|
— |
|
|
2,181 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2013 |
|
|
Forward Air |
|
FASI |
|
TQI |
|
Eliminations |
|
Consolidated |
External revenues |
|
$ |
367,011 |
|
|
$ |
75,841 |
|
|
$ |
28,544 |
|
|
$ |
— |
|
|
$ |
471,396 |
|
Intersegment revenues |
|
1,969 |
|
|
540 |
|
|
— |
|
|
(2,509 |
) |
|
— |
|
Depreciation and amortization |
|
12,110 |
|
|
3,621 |
|
|
1,646 |
|
|
— |
|
|
17,377 |
|
Share-based compensation expense |
|
4,453 |
|
|
113 |
|
|
53 |
|
|
— |
|
|
4,619 |
|
Interest expense |
|
395 |
|
|
6 |
|
|
— |
|
|
— |
|
|
401 |
|
Interest income |
|
29 |
|
|
— |
|
|
1 |
|
|
— |
|
|
30 |
|
Income tax expense |
|
20,989 |
|
|
196 |
|
|
756 |
|
|
— |
|
|
21,941 |
|
Net income |
|
37,481 |
|
|
221 |
|
|
1,180 |
|
|
— |
|
|
38,882 |
|
Total assets |
|
464,538 |
|
|
42,043 |
|
|
84,343 |
|
|
(100,122 |
) |
|
490,802 |
|
Capital expenditures |
|
23,993 |
|
|
6,302 |
|
|
2,971 |
|
|
— |
|
|
33,266 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2012 |
|
|
Forward Air |
|
FASI |
|
TQI |
|
Eliminations |
|
Consolidated |
External revenues |
|
$ |
372,819 |
|
|
$ |
56,102 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
428,921 |
|
Intersegment revenues |
|
939 |
|
|
572 |
|
|
— |
|
|
(1,511 |
) |
|
— |
|
Depreciation and amortization |
|
12,455 |
|
|
3,485 |
|
|
— |
|
|
— |
|
|
15,940 |
|
Share-based compensation expense |
|
4,399 |
|
|
151 |
|
|
— |
|
|
— |
|
|
4,550 |
|
Interest expense |
|
223 |
|
|
18 |
|
|
— |
|
|
— |
|
|
241 |
|
Interest income |
|
29 |
|
|
— |
|
|
— |
|
|
— |
|
|
29 |
|
Income tax expense (benefit) |
|
22,689 |
|
|
(145 |
) |
|
— |
|
|
— |
|
|
22,544 |
|
Net income (loss) |
|
36,993 |
|
|
(286 |
) |
|
— |
|
|
— |
|
|
36,707 |
|
Total assets |
|
386,462 |
|
|
36,279 |
|
|
— |
|
|
(36,123 |
) |
|
386,618 |
|
Capital expenditures |
|
15,310 |
|
|
5,189 |
|
|
— |
|
|
— |
|
|
20,499 |
|
|