Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v2.4.0.6
Segment Reporting
 3 Months Ended
Mar. 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 the summary of significant accounting policies disclosed in Note 1 to the Consolidated Financial Statements included in the Company’s 2011 Annual Report on Form 10-K. 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 (loss) 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 three months ended March 31, 2012 and 2011.
 
 
 
Three months ended March 31, 2012
 
 
Forward Air
 
FASI
 
Eliminations
 
Consolidated
External revenues
 
$
118,142

 
$
18,939

 
$
—

 
$
137,081

Intersegment revenues
 
218

 
267

 
(485
)
 
—

Depreciation and amortization
 
4,027

 
1,094

 
—

 
5,121

Share-based compensation expense
 
1,531

 
75

 
—

 
1,606

Interest expense
 
44

 
7

 
—

 
51

Interest income
 
16

 
—

 
—

 
16

Income tax expense (benefit)
 
6,698

 
(216
)
 
—

 
6,482

Net income (loss)
 
10,664

 
(391
)
 
—

 
10,273

Total assets
 
363,746

 
38,956

 
(37,942
)
 
364,760

Capital expenditures
 
9,265

 
3,833

 
—

 
13,098


 
 
Three months ended March 31, 2011
 
 
Forward Air
 
FASI
 
Eliminations
 
Consolidated
External revenues
 
$
105,044

 
$
15,157

 
$
—

 
$
120,201

Intersegment revenues
 
122

 
81

 
(203
)
 
—

Depreciation and amortization
 
4,072

 
1,010

 
—

 
5,082

Share-based compensation expense
 
1,354

 
89

 
—

 
1,443

Interest expense
 
183

 
12

 
—

 
195

Interest income
 
49

 
—

 
—

 
49

Income tax expense (benefit)
 
5,614

 
(376
)
 
—

 
5,238

Net income (loss)
 
8,507

 
(638
)
 
—

 
7,869

Total assets
 
369,901

 
35,766

 
(37,565
)
 
368,102

Capital expenditures
 
5,381

 
1,948

 
—

 
7,329