Forward Air Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Subsequent Event (Tables)

Subsequent Event (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table presents a preliminary allocation of the CST purchase price to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill:



	February 2, 2014
Tangible assets:
Accounts receivable	$	9,463
Property and equipment	1,051
Other assets	186
Total tangible assets	10,700
Intangible assets:
Non-compete agreements	850
Trade name	1,250
Customer relationships	42,500
Goodwill	44,892
Total intangible assets	89,492
Total assets acquired	100,192

Liabilities assumed:
Current liabilities	6,040
Other liabilities	123
Debt	9,145
Total liabilities assumed	15,308
Net assets acquired	$	84,884

Business Acquisition, Pro Forma Information [Table Text Block]

The results of TQI reflected in the Company's consolidated statements of comprehensive income are as follows (in thousands, except per share data):



	March 4, 2013 to December 31, 2013
Logistics revenue	$	41,842
Operating income	3,600
Net income	1,961
Net income per share
Basic	$	0.07
Diluted	$	0.06

The following unaudited pro forma information presents a summary of the Company's consolidated results of operations as if the TQI acquisition occurred as of January 1, 2012 (in thousands, except per share data).



	Year ended
	December 31, 2013		December 31, 2012
Operating revenue	$	661,025	$	641,943
Income from operations	84,664		87,774
Net income	54,660		55,277
Net income per share
Basic	$	1.81	$	1.91
Diluted	$	1.78	$	1.87

The following unaudited pro forma information presents a summary of the Company's consolidated results of operations as if the CST acquisition occurred as of January 1, 2012 (in thousands, except per share data).



	Year ended
	December 31, 2013		December 31, 2012
Operating revenue	$	717,027	$	639,936
Income from operations	91,789		89,284
Net income	59,091		56,205
Net income per share
Basic	$	1.96	$	1.94
Diluted	$	1.92	$	1.90