Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share (Tables)

v3.20.2
Net Income Per Share (Tables)
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Net Income Per Share
The following table sets forth the computation of basic and diluted net income per share:
  Three months ended Nine months ended
September 30,
2020
September 30,
2019
September 30,
2020
September 30,
2019
Numerator:    
Net income and comprehensive income from continuing operations $ 16,992  $ 21,054  $ 37,634  $ 59,987 
Net (loss) income and comprehensive (loss) income from discontinued operations (345) 1,141  (9,458) 2,945 
Net income attributable to Forward Air shareholders $ 16,647  $ 22,195  $ 28,176  $ 62,932 
Income allocated to participating securities (150) (236) (184) (696)
Numerator for basic and diluted net income per share for continuing operations $ 16,842  $ 20,818  $ 37,450  $ 59,291 
Numerator for basic and diluted net (loss) income per share for discontinued operations $ (345) $ 1,141  $ (9,458) $ 2,945 
Denominator:    
Denominator for basic income per share - weighted-average shares 27,559  27,981  27,732  28,286 
Effect of dilutive stock options 32  74  34  76 
Effect of dilutive performance shares 15  27  23  31 
Denominator for diluted income per share - adjusted weighted-average shares 27,606  28,082  27,789  28,393 
Basic net income (loss) per share:
     Continuing operations $ 0.61  $ 0.74  $ 1.35  $ 2.10 
     Discontinued operations (0.01) 0.04  (0.34) 0.10 
Net income per share $ 0.60  $ 0.78  $ 1.01  $ 2.20 
Diluted net income (loss) per share:
     Continuing operations $ 0.61  $ 0.74  $ 1.35  $ 2.09 
     Discontinued operations (0.01) 0.04  (0.34) 0.10 
Net income per share $ 0.60  $ 0.78  $ 1.01  $ 2.19 
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:
September 30,
2020
September 30,
2019
Anti-dilutive stock options 219  188 
Anti-dilutive performance shares 31  — 
Anti-dilutive non-vested shares and deferred stock units 100  — 
Total anti-dilutive shares 350  188