Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v3.3.1.900
Segment Reporting (Notes)
12 Months Ended
Dec. 31, 2015
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, 2015, 2014 and 2013.   
Year ended December 31, 2015
 
Forward Air
 
FASI
 
TQI
 
Eliminations
 
Consolidated
External revenues
 
$
788,248

 
$
128,826

 
$
42,051

 
$

 
$
959,125

Intersegment revenues
 
4,623

 
1,169

 
322

 
(6,114
)
 

Depreciation and amortization
 
27,069

 
6,085

 
4,003

 

 
37,157

Share-based compensation expense
 
7,200

 
220

 
66

 

 
7,486

Interest expense
 
2,042

 

 
5

 

 
2,047

Interest income
 
25

 

 

 

 
25

Income tax expense
 
21,235

 
1,673

 
1,184

 

 
24,092

Net income
 
51,976

 
2,383

 
1,216

 

 
55,575

Total assets
 
759,680

 
46,970

 
89,312

 
(195,791
)
 
700,171

Capital expenditures
 
30,540

 
3,983

 
5,972

 

 
40,495

 
 
 
 
 
 
 
 
 
 
 
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
 
604,578

 
45,428

 
88,788

 
(199,485
)
 
539,309

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