Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v2.4.0.6
Segment Reporting (Notes)
12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
 
The Company operates in two reportable segments, based on differences in services provided.  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.
 
    
The accounting policies of the segments are the same as those described in Note 1. 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.  The Company’s business is conducted principally 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, 2012, 2011 and 2010.   
Year ended December 31, 2012
 
Forward Air
 
FASI
 
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
 
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

 
 
 
 
 
 
 
 
 
Year ended December 31, 2010
 
Forward Air
 
FASI
 
Eliminations
 
Consolidated
External revenues
 
$
411,767

 
$
72,172

 
$

 
$
483,939

Intersegment revenues
 
1,168

 
311

 
(1,479
)
 

Depreciation and amortization
 
16,496

 
3,954

 

 
20,450

Share-based compensation expense
 
5,896

 
388

 

 
6,284

Interest expense
 
671

 
59

 

 
730

Interest income
 
92

 
4

 

 
96

Income tax expense
 
20,769

 
294

 

 
21,063

Net income (loss)
 
32,580

 
(544
)
 

 
32,036

Total assets
 
349,849

 
36,875

 
(37,928
)
 
348,796

Capital expenditures
 
10,461

 
4,687

 

 
15,148