Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v2.4.0.8
Segment Reporting (Notes)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
 
The Company operates in three reportable segments based on information available to and used by the chief operating decision maker. Forward Air provides time-definite transportation and logistics services to the deferred air freight market. FASI provides pool distribution services primarily to regional and national distributors and retailers. TQI is a provider of maximum security and temperature-controlled logistics services, primarily truckload services, to the pharmaceutical and life science industries.
 
The accounting policies of the segments are the same as those described in the summary of significant accounting policies disclosed in Note 1 to the Consolidated Financial Statements. Segment data includes intersegment revenues. Assets and costs of the corporate headquarters are allocated to the segments based on usage. The Company evaluates the performance of its segments based on net income (loss). The Company’s business is conducted in the U.S. and Canada.
 
The following tables summarize segment information about net income 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 years ended December 31, 2013, 2012 and 2011.   
Year ended December 31, 2013
 
Forward Air
 
FASI
 
TQI
 
Eliminations
 
Consolidated
External revenues
 
$
497,993

 
$
112,766

 
$
41,722

 
$
—

 
$
652,481

Intersegment revenues
 
3,075

 
645

 
120

 
(3,840
)
 
—

Depreciation and amortization
 
16,222

 
4,945

 
2,412

 
—

 
23,579

Share-based compensation expense
 
5,959

 
140

 
79

 
—

 
6,178

Interest expense
 
513

 
8

 
11

 
—

 
532

Interest income
 
36

 
—

 
1

 
—

 
37

Income tax expense
 
26,981

 
846

 
1,628

 
—

 
29,455

Net income
 
51,251

 
1,255

 
1,961

 
—

 
54,467

Total assets
 
478,790

 
42,049

 
85,490

 
(100,060
)
 
506,269

Capital expenditures
 
25,017

 
6,901

 
3,521

 
—

 
35,439

 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2012
 
Forward Air
 
FASI
 
TQI
 
Eliminations
 
Consolidated
External revenues
 
$
500,621

 
$
83,825

 
$
—

 
$
—

 
$
584,446

Intersegment revenues
 
1,116

 
1,152

 
—

 
(2,268
)
 
—

Depreciation and amortization
 
16,356

 
4,665

 
—

 
—

 
21,021

Share-based compensation expense
 
5,857

 
193

 
—

 
—

 
6,050

Interest expense
 
369

 
22

 
—

 
—

 
391

Interest income
 
41

 
—

 
—

 
—

 
41

Income tax expense
 
30,053

 
434

 
—

 
—

 
30,487

Net income
 
51,127

 
1,541

 
—

 
—

 
52,668

Total assets
 
395,936

 
37,135

 
—

 
(33,884
)
 
399,187

Capital expenditures
 
15,910

 
5,443

 
—

 
—

 
21,353

 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2011
 
Forward Air
 
FASI
 
TQI
 
Eliminations
 
Consolidated
External revenues
 
$
463,664

 
$
72,738

 
$
—

 
$
—

 
$
536,402

Intersegment revenues
 
822

 
512

 
—

 
(1,334
)
 
—

Depreciation and amortization
 
16,793

 
4,200

 
—

 
—

 
20,993

Share-based compensation expense
 
5,642

 
329

 
—

 
—

 
5,971

Interest expense
 
578

 
41

 
—

 
—

 
619

Interest income
 
165

 
—

 
—

 
—

 
165

Income tax expense
 
29,162

 
204

 
—

 
—

 
29,366

Net income
 
46,851

 
348

 
—

 
—

 
47,199

Total assets
 
342,109

 
39,244

 
—

 
(40,202
)
 
341,151

Capital expenditures
 
18,250

 
2,966

 
—

 
—

 
21,216