Forward Air Corporation (FWRD) Financial Statements (2024 and earlier)

Company Profile

Business Address 1915 SNAPPS FERRY ROAD
GREENEVILLE, TN 37745
State of Incorp. TN
Fiscal Year End December 31
Industry (SIC) 4731 - Arrangement of Transportation of Freight and Cargo (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 46374065264
Cash and cash equivalents 46374065264
Receivables221216156150156143
Inventory, net of allowances, customer advances and progress billings    221
Inventory    221
Disposal group, including discontinued operation   21   
Other current assets1377   
Other undisclosed current assets252221191714
Total current assets:304283246236201163
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 2314  
Operating lease, right-of-use asset142148123 
Property, plant and equipment249219190213210206
Intangible assets, net (including goodwill)461421390349313303
Goodwill306267245221199192
Intangible assets, net (excluding goodwill)155155145128114111
Disposal group, including discontinued operation, noncurrent assets   53   
Other undisclosed noncurrent assets2932451933616
Total noncurrent assets:904835801755559525
TOTAL ASSETS:1,2081,1181,047991760688
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities10910675656753
Taxes payable    0
Employee-related liabilities 19161713
Accounts payable554538303525
Accrued liabilities546218191515
Debt962700
Disposal group, including discontinued operation   26   
Self insurance reserve 202120   
Customer advances and deposits0
Other liabilities4511   
Other undisclosed current liabilities2726386586
Total current liabilities:1691651721377560
Noncurrent Liabilities
Long-term debt and lease obligation122266193724741
Long-term debt, excluding current maturities107155112674740
Capital lease obligations500
Finance lease, liability1610  
Liabilities, other than long-term debt20993541538554
Deferred tax liabilities, net443729
Deferred income tax liabilities5143  
Other liabilities595054594824
Operating lease, liability9910180 
Self insurance reserve    50  
Total noncurrent liabilities:33135924722513294
Total liabilities:501524418362207154
Equity
Equity, attributable to parent707594547577553533
Common stock000000
Additional paid in capital271258243227210195
Retained earnings436335304350343338
Total equity:707594547577553533
Other undisclosed liabilities and equity   8252  
TOTAL LIABILITIES AND EQUITY:1,2081,1181,047991760688

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,9731,6621,2701,4101,3211,101
Cost of revenue(694)(590)(1,075)(1,056)(989)(536)
Cost of goods and services sold(77)(59)(651)(639)(614)(523)
Gross profit:1,2801,072194354332565
Operating expenses(1,014)(913)(120)(235)(210)(457)
Operating income:26615974119122109
Nonoperating expense(5)(4)(5)(3)(2)(1)
Interest and debt expense(1)(0)(5)(3)(2)(1)
Other undisclosed income from continuing operations before equity method investments, income taxes   5321
Income from continuing operations before equity method investments, income taxes:26015569116120107
Other undisclosed income from continuing operations before income taxes10    
Income from continuing operations before income taxes:26115569116120107
Income tax expense(68)(39)(17)(29)(28)(20)
Income from continuing operations:19311653879287
Income before gain (loss) on sale of properties:11653879287
Net income:19311653879287
Other undisclosed net loss attributable to parent  (10)(29)   
Net income attributable to parent:19310624879287
Undistributed earnings (loss) allocated to participating securities, basic(1)(1)(0)(1)(1) 
Net income available to common stockholders, diluted:19210523869187

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:19311653879287
Comprehensive income:19311653879287
Other undisclosed comprehensive loss, net of tax, attributable to parent  (10)(29)   
Comprehensive income, net of tax, attributable to parent:19310624879287

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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