FWRD Stock Cash Flow Statements

Forward Air Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Forward Air Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2006-12-31	2006-09-30	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-06-30	2002-03-31

operating activities:
net income from continuing operations			-35,378,000	-34,198,000	-966,471,000	-88,794,000					42,942,000	52,133,000	55,430,000	42,686,000	38,197,000	30,503,000	30,677,000	16,714,000	15,133,000	16,993,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	36,806,000	37,360,000	37,657,000	25,896,000	48,639,000	31,786,000	13,751,000	15,506,000	14,513,000	13,635,000	12,392,000	12,269,000	11,595,000	11,130,000	11,485,000	9,416,000	9,414,000	9,237,000	9,206,000	9,172,000	8,118,000	10,629,000	10,073,000	10,528,000	10,681,000	10,827,000	31,346,000	21,052,000	10,690,000	10,477,000	10,326,000	10,219,000	10,033,000	9,801,000	9,400,000	9,341,000	9,668,000	27,601,000	18,202,000	8,684,000	22,879,000	14,764,000	7,013,000	6,202,000	6,220,000	5,971,000	5,186,000	5,081,000	5,425,000	5,394,000	5,121,000	2,400,000	2,083,000	2,815,000	1,969,000	1,853,000	1,693,000	1,696,000	1,699,000	1,823,000	1,888,000	1,775,000	1,777,000	1,880,000	1,886,000
impairment of goodwill			-79,068,000	14,751,000
share-based compensation expense	4,711,000	2,958,000	2,100,000	2,901,000	3,620,000	1,567,000	2,143,000	3,043,000	3,160,000	3,149,000	2,633,000	2,676,000	3,306,000	2,761,000	2,734,000	2,601,000	2,981,000	2,597,000
benefit from revenue adjustments	990,000	647,000	874,000	602,000	1,121,000	1,038,000	-3,220,000	2,782,000	3,372,000	2,157,000	4,045,000	4,368,000	1,630,000	1,304,000	2,439,000	1,979,000	1,748,000	1,777,000	1,779,000	1,185,000	746,000	1,041,000	1,099,000	963,000	740,000	540,000	2,921,000	1,829,000	817,000	924,000	663,000	750,000	718,000	450,000	365,000	406,000	799,000	3,391,000	1,842,000	907,000	1,896,000	1,250,000	641,000	826,000	579,000	627,000	499,000	586,000	490,000	500,000	427,000	524,000	488,000			-15,000
deferred income tax benefit
other	10,673,000	3,799,000	10,621,000	-2,173,000	2,300,000	4,169,000	-2,144,000	1,396,000	-132,000	-300,000	-619,000	-966,000	1,251,000	132,000	670,000	217,000	97,000	92,000								-6,000	-356,000	-347,000	-91,000	-150,000	-585,000	383,000	129,000	337,000	-72,000	-623,000	22,000	-101,000	-68,000	-135,000	53,000	-193,000	-60,000	-18,000	-51,000	-4,000	-56,000	4,000	80,000	-41,000	-306,000	-16,000	55,000	-95,000	-2,000	-15,000	1,247,000	-26,000	-58,000	30,000	43,000	44,000	-4,000	20,000	4,000
changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:
accounts receivable	4,200,000	-21,145,000	43,596,000	8,215,000	-21,770,000	-20,495,000	11,681,000	-19,425,000	21,630,000	16,669,000	24,044,000	-6,421,000	-6,473,000	-30,278,000	-3,598,000	1,932,000	-22,995,000	-28,023,000	-5,303,000	-23,415,000	-3,123,000	6,102,000	6,265,000	-3,939,000	-4,834,000	4,567,000	-3,386,000	-6,732,000	805,000	-11,891,000	-10,759,000	-8,047,000	-611,000	-1,715,000	-6,716,000	-5,529,000	4,245,000	866,000	-4,887,000	-2,332,000	-15,875,000	-12,727,000	-8,493,000	5,709,000	-7,458,000	1,185,000	2,011,000	-943,000	-426,000	-2,682,000	-2,491,000		-5,645,000	-6,366,000	-4,361,000	2,478,000	-3,932,000	-1,361,000	-1,011,000
other receivables	743,000	-434,000	3,518,000	628,000	164,000	5,367,000					0	1,004,000	3,484,000	3,609,000	6,121,000	-727,000	-152,000	-13,339,000
other current and noncurrent assets	8,952,000	767,000	3,130,000	38,422,000	-49,533,000	-7,104,000	26,476,000	-6,916,000	-299,000	11,422,000	-19,686,000	2,825,000	-9,900,000	13,818,000		1,452,000	-339,000	7,085,000
accounts payable and accrued expenses	-57,995,000	67,646,000	-73,941,000	29,662,000	10,560,000	17,802,000		24,174,000	1,053,000	-18,964,000				15,975,000		-3,470,000	1,721,000	21,326,000		12,843,000	11,040,000	-3,406,000	-5,390,000	8,483,000	10,203,000	-4,596,000	12,991,000	4,375,000	87,000	3,649,000	1,776,000	-4,617,000	8,137,000	3,644,000	1,329,000	-3,916,000	-2,470,000	-14,562,000	-10,908,000	-9,589,000	7,767,000	7,180,000	2,416,000	64,000	6,515,000	-6,219,000	2,228,000	4,821,000	-5,000	-12,939,000	4,646,000		4,957,000	4,008,000	4,168,000	-7,520,000	1,863,000	509,000	640,000
net cash from operating activities of continuing operations			-23,245,000	51,154,000	-45,205,000	-51,719,000					62,276,000	83,994,000	50,334,000	62,486,000	42,144,000	43,091,000	22,748,000	16,913,000	15,612,000	20,564,000
investing activities:
proceeds from sale of property and equipment	804,000	691,000	2,644,000	1,087,000	557,000	849,000	466,000	104,000	1,356,000	1,815,000	949,000	656,000	256,000	511,000	304,000	1,025,000	649,000	665,000
purchases of property and equipment	-4,744,000	-11,906,000	-7,250,000	-10,414,000	-14,426,000	-4,970,000	-7,307,000	-5,843,000	-10,786,000	-6,789,000	-15,328,000	-6,728,000	-8,765,000	-9,908,000	-16,094,000	-14,440,000	-5,880,000	-2,695,000	-3,829,000	-2,225,000	-11,042,000	-3,172,000	-1,107,000	-10,504,000	-12,508,000	-4,090,000	-34,344,000	-17,606,000	-6,221,000	-24,655,000	-8,948,000	-2,010,000	-2,652,000	-13,461,000	-12,685,000	-13,352,000	-2,688,000	-18,541,000	-11,962,000	-5,229,000	-37,101,000	-33,420,000	-19,548,000	-2,173,000	-5,272,000	-15,812,000	-12,182,000	-854,000	-2,181,000	-5,220,000	-13,098,000		-4,724,000	-5,414,000	-2,059,000	-55,000	-1,735,000	-336,000	-2,958,000	-359,000	-475,000	-1,490,000	-550,000	-1,886,000	-699,000
purchase of a business, net of cash acquired				0	0	-1,565,242,000										-510,000	-7,543,000	-15,000,000
net cash from investing activities of continuing operations			-15,708,000	-9,472,000	-13,954,000	-1,569,452,000					-40,051,000	-6,072,000	-48,942,000	-9,397,000	-52,603,000	-13,925,000	-12,774,000	-17,030,000	-10,551,000	-1,798,000
financing activities:
repayments of finance lease obligations	-4,945,000	-4,431,000	-3,086,000	-6,212,000	-4,565,000	-4,562,000	-2,564,000	-2,949,000	-1,869,000	-2,118,000	-1,845,000	-1,626,000	-1,513,000	-1,070,000	-978,000	-491,000	-487,000	-467,000
proceeds from credit facility	60,000,000	25,000,000					25,000,000	0	0	45,000,000
payments on credit facility	-60,000,000	-25,000,000	-75,000,000	0	0	-80,000,000	-147,375,000	-375,000			-375,000	-40,375,000	-7,875,000	-375,000
payment of debt issuance costs			8,120,000	0	0	-60,591,000									-363,000
payment of earn-out liability			0	0	0	-12,247,000					0	0			0
proceeds from common stock issued under employee stock purchase plan			398,000	-14,000			379,000	0			409,000	0			523,000	0				0				0			237,000
payment of minimum tax withholdings on share-based awards	-107,000	-894,000	130,000	-211,000	-35,000	-1,326,000	-25,000	-23,000	0	-4,292,000	-37,000	0	-39,000	-3,254,000	-41,000	-242,000	-88,000	-2,744,000
net cash from financing activities of continuing operations			5,562,000	-6,437,000	-4,231,000	-158,726,000
effect of exchange rate changes on cash	353,000	357,000	875,000	-607,000	651,000	94,000
net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents from continuing operations
cash from discontinued operation:
net cash from operating activities of discontinued operations
net decrease in cash and cash equivalents, and restricted cash and restricted cash equivalents
cash and cash equivalents, and restricted cash and restricted cash equivalents at beginning of period
cash and cash equivalents, and restricted cash and restricted cash equivalents at end of period
net income		-61,191,000																				8,375,000	24,167,000	22,195,000	22,330,000	18,407,000	64,366,000	42,038,000	17,741,000	35,373,000	18,155,000	19,550,000	14,243,000	12,706,000	11,931,000	-10,066,000	13,099,000	32,347,000	16,660,000	4,837,000	44,123,000	27,379,000	10,202,000	15,585,000	14,197,000	13,830,000	10,855,000	15,961,000	12,267,000	14,167,000	10,273,000	12,169,000	12,725,000	12,065,000	11,954,000	8,693,000	9,012,000	8,507,000	6,808,000	7,702,000	6,329,000	6,349,000	5,435,000	5,348,000	4,897,000
deferred income tax expense		-2,792,000				2,945,000	-11,092,000	17,000	325,000	1,857,000	5,724,000	0	319,000	1,643,000				-505,000		-351,000	3,123,000	1,545,000		2,653,000	2,442,000	836,000
net cash from operating activities		27,615,000						29,865,000	63,573,000	65,993,000												29,166,000	41,288,000	45,967,000	30,238,000	41,526,000	113,845,000	66,990,000	40,813,000	25,653,000	25,730,000	14,921,000	37,060,000	35,742,000	33,402,000	23,765,000	37,441,000	57,315,000	18,562,000	7,459,000	65,093,000	39,215,000	20,032,000	30,352,000	23,237,000	16,646,000	20,604,000	22,907,000	21,759,000	5,965,000	17,955,000	14,294,000	16,204,000	14,031,000	11,466,000	8,350,000	9,144,000	7,978,000	9,555,000	8,798,000	9,494,000	8,747,000	5,703,000	5,692,000	6,381,000
capex		-11,906,000						-5,843,000	-10,786,000	-6,789,000												-3,172,000	-1,107,000	-10,504,000	-12,508,000	-4,090,000	-34,344,000	-17,606,000	-6,221,000	-24,655,000	-8,948,000	-2,010,000	-2,652,000	-13,461,000	-12,685,000	-13,352,000	-2,688,000	-18,541,000	-11,962,000	-5,229,000	-37,101,000	-33,420,000	-19,548,000	-2,173,000	-5,272,000	-15,812,000	-12,182,000	-854,000	-2,181,000	-5,220,000	-13,098,000	0	-4,724,000	-5,414,000	-2,059,000	-55,000	-1,735,000	-336,000	-2,958,000	-359,000	-475,000	-1,490,000	-550,000	-1,886,000	-699,000
free cash flows		15,709,000						24,022,000	52,787,000	59,204,000												25,994,000	40,181,000	35,463,000	17,730,000	37,436,000	79,501,000	49,384,000	34,592,000	998,000	16,782,000	12,911,000	34,408,000	22,281,000	20,717,000	10,413,000	34,753,000	38,774,000	6,600,000	2,230,000	27,992,000	5,795,000	484,000	28,179,000	17,965,000	834,000	8,422,000	22,053,000	19,578,000	745,000	4,857,000	14,294,000	11,480,000	8,617,000	9,407,000	8,295,000	7,409,000	7,642,000	6,597,000	8,439,000	9,019,000	7,257,000	5,153,000	3,806,000	5,682,000
net cash from investing activities		-11,239,000						-5,739,000	-9,566,000	-61,541,000												-58,353,000	86,000	-21,675,000	-38,637,000	-3,689,000	-32,448,000	-13,114,000	-5,668,000	-24,502,000	-9,375,000	-23,578,000	-1,733,000	-12,990,000	-22,162,000	-13,030,000	-4,211,000	-79,817,000	-73,782,000	-67,105,000	-119,814,000	-116,149,000	-102,527,000	-1,883,000	-4,706,000	-15,041,000	-57,293,000	-806,000	-1,970,000	-4,730,000	-13,199,000	-6,016,000	10,108,000	2,107,000	14,084,000	-320,000	1,514,000	-363,000	-6,007,000	-273,000	2,729,000	801,000	11,460,000	-1,207,000	-2,665,000
net cash from financing activities		-5,325,000						-23,564,000	-67,754,000	-18,246,000												41,683,000	-11,449,000	-4,245,000	-18,989,000	-21,329,000	-56,379,000	-37,667,000	-26,303,000	-9,681,000	-14,022,000	4,412,000	-29,503,000	-25,553,000	-21,607,000	-27,093,000	-28,505,000	28,517,000	56,322,000	72,712,000	-48,073,000	-25,490,000	-3,828,000		-1,081,000	7,866,000	-3,863,000	-2,907,000	4,367,000	-1,800,000	5,840,000		-34,978,000	-24,175,000	-22,384,000	-3,096,000	-4,188,000	-1,098,000	262,000	1,354,000	732,000	330,000	22,000	-83,000	626,000
net increase in cash, cash equivalents, restricted cash and restricted cash equivalents		11,408,000
cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period		105,266,000
cash, cash equivalents, restricted cash and restricted cash equivalents at end of period		116,674,000
adjustments to reconcile net income of continuing operations to net cash from operating activities of continuing operations:
change in fair value of earn-out liability											0	0	0	-294,000	-111,000	0	-337,000	-48,000	2,588,000	493,000	-2,108,000	-594,000	-923,000				-455,000
changes in operating assets and liabilities, net of effects from the purchase of acquired companies:
purchase of businesses, net of cash acquired
proceeds from long-term debt held in escrow
proceeds from issuance of common stock upon stock option exercises											0	0	0	206,000	143,000	-7,000	1,423,000	2,147,000
payments of dividends to shareholders							-6,197,000	-6,198,000	-6,255,000	-6,345,000	-6,404,000	-6,467,000	-6,492,000	-6,502,000	-5,706,000
repurchases and retirement of common stock							0	-14,019,000	-29,301,000	-50,491,000	-14,997,000	-29,994,000	0	-17,780,000	0	-14,997,000
contributions from subsidiary held for sale
net increase in cash, cash equivalents and restricted cash equivalents from continuing operations
adjustments to reconcile net income of continuing operations to net cash from operating activities of continuing operations
deferred income tax (benefit) expense				-33,552,000												-812,000
net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents from continuing operations				34,638,000	-62,739,000	-1,779,803,000
net cash from operating activities of discontinued operation				-1,137,000											2,267,000	0	0	-6,902,000
net cash from investing activities of discontinued operation															0	0	0	8,020,000
net cash from financing activities of discontinued operation															-2,267,000	0	0	-1,118,000
net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents				33,501,000	-67,615,000	-1,779,803,000
cash, cash equivalents and restricted cash equivalents at beginning of period of continuing operations				0	0	1,952,073,000
cash at beginning of period of discontinued operation
less: cash at end of period of discontinued operation
cash, cash equivalents, restricted cash and restricted cash equivalents at end of period of continuing operations						172,270,000
accounts payable, accrued expenses and other long-term liabilities											-9,199,000	16,106,000
net cash from investing activities of discontinued operations
net cash from financing activities of discontinued operations
net increase in cash, cash equivalents and restricted cash equivalents
cash, cash equivalents, and restricted cash equivalents at beginning of period of continuing operations
cash at beginning of period of discontinued operations
net increase in cash, cash equivalents, and restricted cash equivalents
less: cash at end of period of discontinued operations
cash, cash equivalents, and restricted cash equivalents at end of period of continuing operations
net income from operations								9,288,000	19,951,000	36,368,000
adjustments to reconcile net income from operations to net cash from operating activities
net increase in cash and cash equivalents								562,000	-13,747,000	-13,794,000	-1,024,000	-540,000	-14,244,000	24,314,000		1,086,000	26,448,000	-15,858,000																																							6,470,000	6,517,000	3,810,000	9,879,000	12,955,000	9,878,000	17,185,000	4,402,000	4,342,000
cash and cash equivalents at beginning of period								0	0	45,822,000																																															0	0	83,539,000		0	0	33,642,000	0	19,364,000
cash and cash equivalents at end of period								562,000	-13,747,000	32,028,000																																															6,470,000	6,517,000	87,349,000		12,955,000	9,878,000	50,827,000	4,402,000	23,706,000
non-cash transactions:
equipment acquired under finance leases								3,400,000
purchases of a business, net of cash acquired									-136,000	-56,567,000		0
net increase in cash and cash equivalents of continuing operations											-1,024,000	-540,000	-14,244,000	24,314,000		1,086,000	26,448,000	-15,858,000
cash and cash equivalents at beginning of period of continuing operations											0	0	0	37,316,000	0	0	0	40,254,000
cash and cash equivalents at end of period of continuing operations											-1,024,000	-540,000	-14,244,000	61,630,000	-14,614,000	1,086,000	26,448,000	24,396,000
net cash from financing activities from continuing operations												-78,462,000	-15,636,000	-28,775,000		-28,080,000	16,474,000	-15,741,000		-56,692,000
prepaid expenses, other current assets and other assets
proceeds from revolving credit facility															150,000,000	0
payments on revolving credit facility
contributions from (distributions to) subsidiary held for sale															2,267,000	0	0	1,118,000
net increase in cash of continuing operations																			-2,736,000	-37,926,000
increase in cash and cash equivalents
less: cash at beginning of period of discontinued operation
payments of dividends to stockholders																	-5,768,000	-5,797,000
changes in operating assets and liabilities, net of effects from the purchase of businesses:
repurchases of common stock																		-9,998,000
deferred income tax provision
repayments of senior credit facility
proceeds from senior credit facility																			0	0	0	65,000,000	0	10,000,000						0	20,000,000	22,000,000	13,000,000
common stock issued under employee stock purchase plan																			657,000	0			609,000	0				237,000		232,000	0			227,000	0			228,000	228,000		148,000	148,000		159,000	0			140,000	0				0	0			0				4,000
(distributions to) contributions from subsidiary held for sale																			-3,743,000
share-based compensation																				2,345,000	2,241,000	3,266,000	2,901,000	2,762,000	3,197,000	3,047,000	7,525,000	4,678,000	2,261,000	2,138,000	1,939,000	2,064,000	1,962,000	2,130,000	2,093,000	2,159,000	1,952,000	5,562,000	3,676,000	1,786,000	5,005,000	3,329,000	1,652,000	1,559,000	1,525,000	1,537,000	1,557,000	1,500,000	1,427,000	1,517,000	1,606,000	384,000	343,000
loss on disposal of property and equipment																													82,000		194,000	19,000	488,000										16,000				85,000			-29,000	196,000
benefit from loss on receivables																				-82,000					2,000	629,000		457,000	134,000	26,000				-10,000									42,000		-56,000	-11,000	301,000									186,000
changes in operating assets and liabilities
prepaid expenses and other current assets																				-485,000	-595,000	907,000		511,000	-7,683,000	2,699,000	-4,880,000	-3,639,000										-1,531,000	-3,210,000	2,618,000	-1,397,000	-2,429,000	7,048,000	1,360,000	515,000	-1,360,000	-730,000	298,000	1,499,000	-2,203,000	-925,000	290,000	797,000	738,000	-1,297,000	380,000
income taxes																				1,767,000	-1,860,000	1,519,000	3,840,000	-374,000	-6,813,000	4,631,000	-3,193,000	-1,428,000	1,768,000																							-1,145,000	1,968,000	214,000	556,000	2,078,000	-2,663,000	-540,000	20,000
proceeds from disposal of property and equipment																				427,000	238,000	750,000	1,193,000	829,000	865,000	407,000	5,989,000	4,839,000	644,000	943,000	158,000	549,000	790,000	134,000	695,000	945,000	155,000	1,200,000	623,000	582,000	1,582,000	462,000	79,000	308,000	617,000	884,000	164,000	44,000	131,000	531,000	205,000	390,000	75,000	35,000			2,000	-1,000	9,000	51,000				11,000	30,000
acquisition of business, net of cash acquired																				0	0	-55,931,000	0	-12,000,000			-3,737,000			-640,000	0			0	-10,100,000	0	-1,700,000	-62,375,000	-62,375,000	-62,323,000	-84,348,000	-82,998,000	-82,998,000				-45,219,000
payments of finance lease obligations																				147,000	-340,000	-336,000	-418,000	-391,000	-69,000	-68,000
payments on senior credit facility
payments on earn-out liability																				0
proceeds from exercise of stock options																							1,987,000	785,000	448,000	830,000	3,682,000	1,112,000		1,630,000	750,000	3,368,000	1,524,000	1,107,000	5,947,000	213,000	881,000	11,351,000	11,351,000	10,139,000	13,083,000	11,580,000	9,840,000	3,136,000	1,687,000	10,219,000	17,960,000	0	7,295,000	253,000	8,192,000	131,000	48,000	2,490,000	199,000	1,020,000	2,096,000	226,000	633,000	1,332,000	857,000	361,000	147,000	90,000	834,000
payments of cash dividends																				-5,003,000	-5,037,000	-5,050,000	-5,073,000	-5,088,000	-5,144,000	-5,189,000	-13,213,000	-8,828,000	-4,413,000	-4,468,000	-4,502,000	-4,543,000	-4,539,000	-4,542,000	-3,653,000	-3,656,000	-3,678,000	-11,133,000	-7,433,000	-3,714,000	-11,141,000	-7,479,000	-3,733,000	-3,070,000	-3,057,000	-3,047,000	-2,967,000	-2,938,000	-2,937,000	-2,038,000	-2,034,000		-2,141,000	-1,904,000
repurchase of common stock																				-29,989,000	0	-15,259,000	-8,298,000	-9,289,000	-24,436,000	-14,181,000	-44,985,000	-28,165,000	-19,993,000		-29,988,000	-1,999,000	-9,996,000		-9,995,000	-9,996,000	-9,995,000	-9,996,000			-39,972,000	-19,985,000											-33,002,000	-26,156,000	-18,784,000	-4,109,000	-6,277,000	-1,447,000	-363,000
cash settlement of share-based awards for tax withholdings																				-158,000	-614,000	-2,672,000	0	-262,000	-49,000	-2,721,000	-1,872,000	-1,872,000	-1,823,000		0	-64,000	-1,635,000
cash from discontinued operations:
cash from operating activities of discontinued operations																				-3,418,000
cash from investing activities of discontinued operations																				-172,000
cash from financing activities of discontinued operations																				3,590,000
net increase in cash																				-37,926,000	3,671,000	12,496,000	29,925,000	20,047,000	-27,388,000	16,508,000	25,018,000	16,209,000	8,842,000		2,333,000	-4,245,000	5,824,000		-10,367,000	-16,358,000	4,725,000	6,015,000	1,102,000	13,066,000				28,816,000	17,450,000	9,471,000	-40,552,000	19,194,000	24,156,000	-565,000	10,596,000	3,875,000	-8,666,000	-8,037,000	3,166,000	4,934,000
cash at beginning of period of continuing operations																				0
cash at beginning of period of discontinued operations/held for sale
less: cash at end of period of discontinued operations/held for sale
cash at end of period of continuing operations																				-37,926,000
forward air corporation
consolidated statements of shareholders' equity
balance at december 31, 2019																				0	0	27,850,000
net income and comprehensive income
dividends
share repurchases																				0	0	-268,000		0
vesting of previously non-vested shares																				0	0	139,000		0
balance at march 31, 2020																				0	0	27,679,000
balance at june 30, 2020																				0
exercise of stock options																								0
balance at september 30, 2020
gain on disposal of property and equipment																					47,000	-38,000	111,000	1,098,000										90,000	111,000	-3,000	93,000	-3,000	-33,000		-441,000	-112,000						59,000
(distributions to) contributions from subsidiary
adjustments to reconcile net income to net cash from operating activities
(recovery of) benefit from loss on receivables																						-180,000
cash at beginning of period																						64,749,000		0	0	25,657,000	3,893,000	3,893,000	3,893,000		0	0	8,511,000		0	0	33,312,000	41,429,000	41,429,000	41,429,000	127,367,000	127,367,000	127,367,000		0	0	112,182,000		0	0	58,801,000		0	0	0	78,000
cash at end of period																						77,245,000		20,047,000	-27,388,000	42,165,000	28,911,000	20,102,000	12,735,000		2,333,000	-4,245,000	14,335,000		-10,367,000	-16,358,000	38,037,000	47,444,000	42,531,000	54,495,000	24,573,000	24,943,000	41,044,000		17,450,000	9,471,000	71,630,000		24,156,000	-565,000	69,397,000		-8,666,000	-8,037,000	3,166,000	5,012,000
deferred income taxes																																												3,919,000	-9,504,000	0	10,441,000	-417,000	1,023,000	2,241,000	-804,000		-1,503,000	-437,000	-120,000	-264,000	856,000	1,022,000	818,000	-2,984,000	547,000	594,000	495,000	515,000	431,000
prepaid expenses and other assets																																																										-1,972,000	520,000
cash at beginning of year
cash at end of year
buildings
equipment
leasehold improvements
benefit from loss (recovery) on receivables																																235,000	22,000					463,000	83,000											1,000	110,000		95,000
balance at december 31, 2018																								0
cash settlement of share-based awards for minimum tax withholdings																								0										0	-14,000			-1,931,000	-1,926,000	-1,926,000	-1,083,000	-1,083,000	-1,081,000	0	0	0	-866,000	0	0	0	-386,000
balance at march 31, 2019																								0
balance at june 30, 2019																								0
balance at september 30, 2019
the accompanying notes are an integral part of the financial statements.
(gain) loss on disposal of property and equipment																										-61,000	-14,000	-134,000												-149,000				14,000	-185,000
impairment of goodwill, intangible and other assets																																		0	0
tax benefit for stock options exercised																																																-31,000	-148,000	-2,000	-204,000
payments of debt and capital lease obligations																											-228,000	-151,000	-74,000	-75,000	-282,000	-14,576,000	-27,857,000	-13,943,000	-13,942,000	-13,914,000	-13,969,000	-87,367,000	-73,263,000	-59,116,000	-9,662,000	-9,578,000	-9,491,000	-24,000	-48,000	-75,000	-20,228,000	-140,000	-139,000	-136,000	-136,000
benefit from (recovery) loss on receivables																											-52,000													-19,000	-39,000	-85,000
deferred income tax																											6,676,000	4,494,000	3,713,000		-662,000	879,000	-85,000		-220,000	-4,150,000	5,031,000	5,546,000		3,045,000	1,729,000	1,573,000	132,000		1,722,000	2,086,000	850,000
payments on line of credit																																																					0
revenue
expedited ltl																											155,703,000
truckload premium services																											45,941,000	45,186,000	41,785,000
pool distribution																											39,180,000	36,835,000	37,823,000
intermodal																											42,292,000	35,270,000	28,291,000
eliminations and other operations																											-2,915,000	-2,043,000	-1,515,000
consolidated revenue																											280,201,000	267,518,000	246,982,000
operating expenses																											253,303,000	237,709,000	223,793,000
income from operations																											26,898,000	29,809,000	23,189,000									2,517,000	2,284,000	4,000	2,517,000
income tax expenses																											8,453,000	10,041,000	8,638,000
diluted earnings per share																											600	640	470
income statement:
ltl revenue																												152,270,000	140,598,000
other current assets																													2,715,000		2,567,000	-6,131,000	2,153,000		14,879,000	-7,054,000	5,258,000
changes in operating assets and liabilities, net of acquisition of business
proceeds from term loan																																						125,000,000	125,000,000	125,000,000
purchase of common stock under repurchase program
net decrease in cash																																									-102,794,000	-102,424,000	-86,323,000
excess tax benefit for stock options exercised																																			-50,000	-49,000	-38,000	-2,365,000	-2,365,000	-2,329,000	-554,000	-907,000	-637,000		-337,000	-632,000	-2,238,000
tangible assets:
property and equipment																															0	527,000	1,294,000												0	0	5,103,000
total tangible assets																															0	527,000	1,294,000												316,000	15,000	13,277,000
intangible assets:
non-compete agreements																															0	1,011,000	139,000		119,000	0	20,000								0	0	470,000
customer relationships																															0	8,065,000	5,335,000		4,563,000	0	772,000								0	0	22,300,000
goodwill																															0	578,000	6,282,000		5,374,000	0	908,000								633,000	-89,000	44,528,000
total intangible assets																															0	9,654,000	11,756,000		10,056,000	0	1,700,000								633,000	-89,000	68,298,000
total assets acquired																															0	10,181,000	13,050,000		11,350,000	0	1,700,000								949,000	-74,000	81,575,000
liabilities assumed:
other liabilities																															0	-660,000	1,250,000												0	-259,000	1,994,000
debt and capital lease obligations																															0
total liabilities assumed																															0	-519,000	1,250,000												949,000	-183,000	36,356,000
net assets acquired																															0	10,700,000	11,800,000		10,100,000	0	1,700,000								0	109,000	45,219,000
other assets																																													0	0	728,000
current liabilities																																													949,000	76,000	3,808,000
benefit from recovery on receivables																																					-196,000
gain on change in fair value of earn-out liability
operating revenue																																						21,100,000	18,072,000	10,803,000	21,100,000	18,072,000	10,803,000
net income per share
basic																																						50	40		50	40												10
diluted																																						50	40		50	40												10
deferred income (benefit) tax																																							-498,000
operating income																																										2,284,000	4,000
net cash provided (used in) by financing activities
acquisition of businesses, net of cash acquired																																													0
trade name																																													0	0	1,000,000
debt																																													0	0	20,113,000
expected dividend yield																																																	0	0	900
expected stock price volatility																																																	0	0	46,600
weighted-average risk-free interest rate																																																	0	0	800
expected life of options																																																	0	0	4,200
weighted-average grant date fair value																																																	0	0	13,000
impairment of goodwill and other intangible assets
tax (benefit) expense for stock options exercised
tax benefit (expense) for stock options exercised
non-cash activity:
unpaid capital expenditures included in accounts payable
gain on sale of property and equipment																																																											-7,000
tax benefit of stock options exercised																																																				3,516,000	-126,000	1,334,000	353,000	235,000	1,782,000	33,000	59,000
changes in operating assets and liabilities:
proceeds from sales or maturities of available-for-sale securities																																																				35,425,000	79,501,000	-4,719,000	162,757,000	9,112,000				6,000	3,023,000	3,246,000	14,014,000	1,069,000	385,000
purchases of available-for-sale securities																																																					-60,006,000	12,300,000	-136,678,000	-9,362,000	0	0	-3,000,000	-1,000	0	-999,000	-2,000,000	-421,000	-2,385,000
payments of capital lease obligations																																																					-9,000	-9,000	-7,000	-7,000	-7,000	-7,000	-8,000	-6,000	-7,000	-6,000	-7,000	-119,000	-98,000
1.
atlanta condemnation settlement gain																																																						0
other non-cash charges																																																						0	0	274,000
inventories																																																						-48,000	-188,000	-28,000	12,000	43,000	9,000
deposits in escrow for construction of new terminals
acquisition of business																																																						0
proceeds from atlanta condemnation settlement/release of amounts held in escrow
(payments) borrowings on line of credit
cash paid for fractional shares in 3-for-2 stock split
common stock repurchase liabilities included in accounts payable
uncollected proceeds from disposal of property and equipment in accounts receivable																																																				-2,000
borrowings under line of credit
(gain) loss on sale of property and equipment																																																																-27,000	72,000
proceeds from atlanta condemnation settlement																																																						0
cash paid for fractional shares in stock split																																																						0
net income, as reported																																																						111,000
pro forma compensation expense, net of tax																																																						2,082,000
pro forma net income																																																						119,000
as reported net income per share:
pro forma net income per share:
loss on sale of property and equipment																																																									-1,000				128,000
item 2.
payments of long-term debt																																																												-83,000	-122,000	-120,000	-118,000	-112,000	-110,000
operating activities
loss on sale of investments
loss on early extinguishment of debt
benefit from losses on receivables
changes in operating assets and liabilities, net of effects from acquisition of business:
investing activities
financing activities
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
proceeds in escrow resulting from condemnation of atlanta terminal
changes in operating assets and liabilities, net of effects from acquisition of businesses:
acquisition of businesses
proceeds from long-term debt

We provide you with 20 years of cash flow statements for Forward Air stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as operating cash flows, cash levels, capital expenditures, profits, stock-based compensations and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Forward Air stock. Explore the full financial landscape of Forward Air stock with our expertly curated income statements.

The information provided in this report about Forward Air stock is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.