Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v2.4.1.9
Segment Reporting (Notes)
 12 Months Ended
Dec. 31, 2014
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, which includes our Forward Air and CST operating segments, provides time-definite transportation and logistics services including expedited truckload and intermodal drayage. 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 life sciences sector (pharmaceutical and biotechnology products).
 
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, 2014, 2013 and 2012.   
Year ended December 31, 2014
 
Forward Air
 
FASI
 
TQI
 
Eliminations
 
Consolidated
External revenues
 
$
608,118

 
$
124,382

 
$
48,459

 
$
—

 
$
780,959

Intersegment revenues
 
4,219

 
831

 
365

 
(5,415
)
 
—

Depreciation and amortization
 
21,721

 
5,811

 
3,601

 
—

 
31,133

Share-based compensation expense
 
6,470

 
176

 
35

 
—

 
6,681

Interest expense
 
602

 
2

 
6

 
—

 
610

Interest income
 
8

 
—

 
—

 
—

 
8

Income tax expense
 
31,792

 
2,203

 
921

 
—

 
34,916

Net income
 
53,985

 
3,790

 
3,394

 
—

 
61,169

Total assets
 
607,765

 
47,516

 
88,781

 
(202,257
)
 
541,805

Capital expenditures
 
26,170

 
7,133

 
6,184

 
—

 
39,487

 
 
 
 
 
 
 
 
 
 
 
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