Forward Air Corporation (FWRD) financial statements (2022 and earlier)

Company profile

Business Address 1915 SNAPPS FERRY ROAD
GREENEVILLE, TN 37745
State of Incorp. TN
Fiscal Year End December 31
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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments374065264933
Cash and cash equivalents374065264933
Receivables216156150156143117109
Inventory, net of allowances, customer advances and progress billings  22111
Inventory  22111
Disposal group, including discontinued operation 21     
Other current assets77     
Other undisclosed current assets22211917141030
Total current assets:283246236201163136173
Noncurrent Assets
Finance lease, right-of-use asset14  
Operating lease, right-of-use asset148123 
Property, plant and equipment219190213210206200187
Intangible assets, net (including goodwill)421390349313303291333
Goodwill267245221199192185206
Intangible assets, net (excluding goodwill)155145128114111107128
Disposal group, including discontinued operation, noncurrent assets 53     
Other undisclosed noncurrent assets32451933616136
Total noncurrent assets:835801755559525505527
TOTAL ASSETS:1,1181,047991760688641700
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities106756567534445
Accounts payable45383035251823
Accrued liabilities62181915151411
Employee-related liabilities 191617131210
Taxes payable    00 
Debt627002856
Disposal group, including discontinued operation 26     
Self insurance reserve2120     
Customer advances and deposits001
Other liabilities511     
Other undisclosed current liabilities2638658668
Total current liabilities:165172137756078109
Noncurrent Liabilities
Long-term debt and lease obligation266193724741129
Long-term debt, excluding current maturities155112674740 28
Finance lease, liability10  
Capital lease obligations50011
Operating lease, liability10180 
Liabilities, other than long-term debt935415385546452
Deferred tax liabilities, net4437294240
Deferred income tax liabilities43  
Other liabilities50545948242212
Self insurance reserve  50    
Total noncurrent liabilities:359247225132946481
Total liabilities:524418362207154142190
Stockholders' equity
Stockholders' equity attributable to parent594547577553533499510
Common stock0000000
Additional paid in capital258243227210195180161
Retained earnings335304350343338319349
Total stockholders' equity:594547577553533499510
Other undisclosed liabilities and equity 8252    
TOTAL LIABILITIES AND EQUITY:1,1181,047991760688641700

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,6621,2701,4101,3211,101983959
Cost of revenue(590)(1,075)(1,056)(989)(536)(480)(473)
Cost of goods and services sold(59)(651)(639)(614)(523)(452)(446)
Gross profit:1,072194354332565503487
Operating expenses(913)(120)(235)(210)(457)(443)(405)
Operating income:159741191221096082
Nonoperating expense(4)(5)(3)(2)(1)(2)(2)
Interest and debt expense(0)(5)(3)(2)(1)(2)(2)
Other undisclosed income from continuing operations before equity method investments, income taxes 532122
Income from continuing operations before equity method investments, income taxes:155691161201075880
Other undisclosed income from continuing operations before income taxes0      
Income from continuing operations before income taxes:155691161201075880
Income tax expense(39)(17)(29)(28)(20)(31)(24)
Net income:116538792872856
Other undisclosed net loss attributable to parent(10)(29)     
Net income attributable to parent:106248792872856
Undistributed earnings (loss) allocated to participating securities, basic(1)(0)(1)(1) 
Net income available to common stockholders, diluted:105238691872856

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:116538792872856
Comprehensive income:116538792872856
Other undisclosed comprehensive loss, net of tax, attributable to parent(10)(29)     
Comprehensive income, net of tax, attributable to parent:106248792872856

Statements sources

The financial statements are based on the company's filings with the 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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