Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.20.2
Net Income Per Share
6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:
 
Three months ended
 
Six months ended
 
June 30,
2020
 
June 30,
2019
 
June 30,
2020
 
June 30,
2019
Numerator:
 
 
 
 
 
 
 
Net income and comprehensive income from continuing operations
$
9,225

 
$
21,244

 
$
20,641

 
$
38,931

Net (loss) income and comprehensive (loss) income from discontinued operations
(6,071
)
 
1,086

 
(9,112
)
 
1,806

Net income attributable to Forward Air shareholders
$
3,154

 
$
22,330

 
$
11,529

 
$
40,737

 
 
 
 
 
 
 
 
Income allocated to participating securities
(13
)
 
(251
)
 
(83
)
 
(459
)
 
 
 
 
 
 
 
 
Numerator for basic and diluted net income per share for continuing operations
$
9,212

 
$
20,993

 
$
20,558

 
$
38,472

Numerator for basic and diluted net (loss) income per share for discontinued operations
$
(6,071
)
 
$
1,086

 
$
(9,112
)
 
$
1,806

 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 
 
 
Denominator for basic income per share - weighted-average shares
27,695

 
28,268

 
28,424

 
28,421

Effect of dilutive stock options
13

 
77

 
35

 
76

Effect of dilutive performance shares
18

 
28

 
32

 
34

Denominator for diluted income per share - adjusted weighted-average shares
27,726

 
28,373

 
28,491

 
28,531

 
 
 
 
 
 
 
 
Basic net income (loss) per share:
 
 
 
 
 
 
 
     Continuing operations
$
0.33

 
$
0.74

 
$
0.72

 
$
1.35

     Discontinued operations
(0.22
)
 
0.04

 
(0.31
)
 
0.07

Net income per share
$
0.11

 
$
0.78

 
$
0.41

 
$
1.42

 
 
 
 
 
 
 
 
Diluted net income (loss) per share:
 
 
 
 
 
 
 
     Continuing operations
$
0.33

 
$
0.74

 
$
0.72

 
$
1.35

     Discontinued operations
(0.22
)
 
0.04

 
(0.32
)
 
0.06

Net income per share
$
0.11

 
$
0.78

 
$
0.40

 
$
1.41



The number of instruments that could potentially dilute net income per basic share in the future, but that were not included in the computation of net income per diluted share because to do so would have been anti-dilutive for the periods presented, are as follows:

June 30,
2020

June 30,
2019
Anti-dilutive stock options
218

 
194

Anti-dilutive performance shares
29

 

Anti-dilutive non-vested shares and deferred stock units
95

 

Total anti-dilutive shares
342

 
194