Forward Air Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions and Goodwill (Tables)

Acquisitions and Goodwill (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Purchase Price Allocation [Table Text Block]

The following table presents the allocation of the Atlantic purchase price to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands):



	Atlantic		KCL
	May 7, 2017		October 22, 2017
Tangible assets:
Property and equipment	$	1,821	$	223
Total tangible assets	1,821		223
Intangible assets:
Non-compete agreements	1,150		6
Customer relationships	13,400		234
Goodwill	6,719		277
Total intangible assets	21,269		517
Total assets acquired	23,090		740

Liabilities assumed:
Current liabilities	590		100
Total liabilities assumed	590		100
Net assets acquired	$	22,500	$	640

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

The acquired definite-lived intangible assets have the following useful lives:



	Useful Lives
	Atlantic	KCL
Customer relationships	15 years	15 years
Non-compete agreements	5 years	2 years

Schedule of Goodwill [Table Text Block]

There were no changes to goodwill for the three months ended March 31, 2018. Approximately $112,527 of goodwill is deductible for tax purposes. The following is a summary of the goodwill balances as of March 31, 2018.



	Ending balance, March 31, 2018
Expedited LTL
Goodwill	$	97,593
Accumulated Impairment	—

TLS
Goodwill	45,164
Accumulated Impairment	(25,686		)

Pool Distribution
Goodwill	12,359
Accumulated Impairment	(6,953		)

Intermodal
Goodwill	69,194
Accumulated Impairment	—

Total	$	191,671